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 T￿aSurer 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** **2** ## **The Benevolent Society of St. Patrick** ## **Report of The Grand Committee 2020- 2021 (continued)** **3** ## **The Benevolent Society of St. Patrick** ## **Report of The Grand Committee 2020- 2021 (continued)** **4** ## **The Benevolent Society of St. Patrick** ## **Case Studies submitted by our agencies** **5** ## **The Benevolent Society of St. Patrick** ## **Independent Examiner's report to the Trustees** **6** ## **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** **7** ## **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** **8** ## **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
£| |---|---|---| **9** ## **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
£| **10** ## **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). **11** ## **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
£| |---|---|---|---|---| **12**