The Benevolent Society of St Patrick OCIETF. Report of the Trustees and Financial Statements for the year ended 31 March 2021 Charity number: 214824
The Benevolent Society of St Patrick Legal and Administrative Inforniation Patron The Duke of Abercorn KG President Judge PatrAck CIyne Edward Cholmondeley-clarke FCA Harry Draycott MA FCCA Bank of Ireland PO Box2124, Belfast BTI 9RS Honorary TaSurer Independent Examiner Bankers Sccretary Registered address 50-52 Camden Square London NWI 9XB Trustees and Members of the Grnnd Committee The Lord Aylmer The Hon Christopher Bellew The Earl of Clanwilliam Judge Patrick Clyne Edward Cholmondeley-clarke Lord Gillford (since 25 March 2021) The Viscount Gougb Dr. P¢adar O'mordha Mrs Nicky Sansom Registered Office c/0 London Irish Centre 50-52 Camden Square London NWI 9XB
The Benevolent Society of St. Patrick
Report of The Grand Committee 2020 - 2021
Introduction
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The Benevolent Society of St. Patrick
Report of The Grand Committee 2020- 2021 (continued)
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The Benevolent Society of St. Patrick
Report of The Grand Committee 2020- 2021 (continued)
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The Benevolent Society of St. Patrick
Case Studies submitted by our agencies
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The Benevolent Society of St. Patrick
Independent Examiner's report to the Trustees
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The Benevolent Society of St. Patrick
Statement of Financial Activities for the year ended 31 March 2021
| Notes Income and Expenditure Incoming Resources Donations 2 Government Grants 3 Income from Fund Raising Event 4 Income from Investments 5 Total Incoming Resources Resources Expended Grants Payable 6 Expense of Fund Raising Event 7 Management and Administration 8 Total Resources Expended Net surplus for the year Other recognised gains (losses) Unrealised gains (losses) on investments 10 Net Movement in Funds Total Funds brought forward Total Funds carried forward |
2021 Total £ Unrestricted 20,244 5,000 - 12,563 37,807 24,000 - 3,000 27,000 10,807 49,583 60,390 284,906 345,296 £ - |
2020 Total £ Unrestricted 35,064 - 2,100 15,925 53,089 44,000 135 3,000 47,135 5,954 (61,601) (55,647) 340,553 284,906 £ - |
|---|---|---|
The notes on pages 9 to 12 form an integral part of these financial statements
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The Benevolent Society of St. Patrick
Balance Sheet as at 31 March 2021
| Notes Fixed Assets Investments 10 Current Assets Debtors 11 Bank Balance 12 Creditors: amounts falling due within one year Net Current Assets Net Assets Funds General Reserve 13 Revaluation Reserve 13 Total Funds |
1,054 45,723 (3,000) |
2021 Total £ Unrestricted 301,519 43,777 345,296 £ 178,463 166,833 345,296 £ - |
733 35,237 (3,000) |
2020 Total £ Unrestricted 251,936 32,970 284,906 £ 167,656 117,250 284,906 £ - |
|---|---|---|---|---|
The notes on pages 9 to 12 form an integral part of these financial statements
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The Benevolent Society of St. Patrick
Notes to the Financial Statements for the year ended 31 March 2021
1 Accounting Policies
1 . 1 Accounting Convention
- The Financial Statements are prepared under the historical cost convention, with the exception of investments which are included at market value.
The 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 in October 2019 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 Charity has taken advantage of the exemption in FRS102 from the requirement to produce a cashflow statement because it is a small charity.
1 . 2 Incoming Resources
Grant income, being expendable upon receipt, is included in full in the Statement of Financial Activities when received.
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.
Income from investments is included in the year in which it is receivable.
1 . 3 Resources Expended
Expenditure is included on an accruals basis.
1 . 4 Investments
Fixed asset investments are stated at market value at the Balance Sheet date. Any gain or loss on revaluation is taken to the statement of Financial Activities.
| 2 Donations General Donations Covenanted - Gift Aid Tax credit on Gift Aid |
2021 £ 18,638 1,285 321 20,244 £ |
2020 £ 33,458 1,285 321 35,064 £ |
|---|---|---|
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The Benevolent Society of St. Patrick
Notes to the Financial Statements for the year ended 31 March 2021
| 3 | Government Grants | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| Government of Ireland: Emigrant Support Programme | 5,000 £ |
- £ |
|
| The Government of Ireland: Emigrant Support Programme is being administered in aid of | |||
| the Irish and those of Irish descent by our partners | in Southwark Irish Pensioners. | ||
| The Government of Ireland: Emigrant Support Programme Grant is for the period July 2020 | |||
| to the end of June 2021. In accordance with Accounting Policies the Grant is recognized in | |||
| full on receipt. | |||
| As at 31 March £3,464 had been expended and in the remainding three months of the Grant | |||
| period a further £1,973 had been spent. | |||
| 4 | Income from Fund Raising Event | 2021 £ |
2020 £ |
| Annual Lecture | - £ |
2,100 £ |
|
| 5 | Investment Income | 2021 £ |
2020 £ |
| 17,928 M&G Charifund Income Units | 11,564 | 14,970 | |
| 22,340 M&G Charibond Income Units | 670 | 626 | |
| 7,402 COIF Charities Fixed Interest Fund Units | 329 | 329 | |
| 12,563 £ |
15,925 £ |
||
| 6 | Grants Payable | 2021 £ |
2020 £ |
| Net Grants disbursed | 24,000 £ |
44,000 £ |
|
| 7 | Expense of Fund Raising Event | 2021 £ |
2020 £ |
| Annual Lecture costs | - £ |
135 £ |
|
| 8 | Management and Administration | 2021 £ |
2020 £ |
| Administration fees | 3,000 | 3,000 | |
| Other costs | - | - | |
| 3,000 £ |
3,000 £ |
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The Benevolent Society of St. Patrick
Notes to the Financial Statements for the year ended 31 March 2021
9 Trustee's emoluments
There were no emoluments paid during the year, nor any in the previous year.
| 10 Fixed Asset Investments Investments Opening Market Value Additions / Sales Unrealised gains / (losses) Closing Market Value Cost 17,928 M&G Charifund Income Units 22,340 M&G Charibond Income Units 7,402 COIF Charities Fixed Interest Fund Units Market Values 17,928 M&G Charifund Income Units 22,340 M&G Charibond Income Units 7,402 COIF Charities Fixed Interest Fund Units 11 Debtors Tax credit on Gift Aid |
2021 251,936 - 49,583 301,519 £ 108,927 27,635 10,000 146,562 £ 263,977 27,595 9,947 301,519 £ 2021 £ 1,054 £ |
2020 313,537 - (61,601) 251,936 £ 108,927 27,635 10,000 146,562 £ 214,326 27,521 10,089 251,936 £ 2020 £ 733 £ |
|---|---|---|
12 Bank Balance
In addition to the balance held in the Society's bank account at 31 March 2021 the London Irish Centre held £13,521 in funds awaiting distribution (2020 £6,799), and Southwark Irish Pensioners held £6,536 (2020 £5,000).
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The Benevolent Society of St. Patrick
Notes to the Financial Statements for the year ended 31 March 2021
| 13 Funds - Unrestricted Balance 31 March 2020 £ General Reserve 167,656 Revaluation Reserve 117,250 284,906 £ |
Incoming Resources £ 37,807 - 37,807 £ |
Resources Expended £ (27,000) - (27,000) £ |
Gains / (Losses) £ - 49,583 49,583 £ |
Balance 31 March 2021 £ 178,463 166,833 345,296 £ |
|---|---|---|---|---|
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