The Benevolent Society of St Patrick
Report of the Trustees and Financial Statements for the year ended 31 March 2022
Charity number: 214824
The Medal worn by Lord MacNaghten as President of The Society
The Benevolent Society of St Patrick
Legal and Administrative Information
Patron
President
The Duke of Abercorn KG Judge Patrick Clyne
Honorary Treasurer Edward Cholmondeley-Clarke FCA Independent Examiner Harry Draycott MA FCCA Bankers Bank of Ireland PO Box 2124, Belfast BT1 9RS Secretary Registered address 50-52 Camden Square London NW1 9XB
Trustees and Members of the Grand Committee
The Lord Aylmer The Hon Christopher Bellew The Earl of Clanwilliam Edward Cholmondeley-Clarke Judge Patrick Clyne Lord Gillford The Viscount Gough Dr. Peadar O'Mórdha Conor J Quinn (since 23 November 2022) Mrs Nicky Sansom
Registered Office
c/o London Irish Centre 50-52 Camden Square London NW1 9XB
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The Benevolent Soclety of St Patrlck Report of the Grand Committee Thi8 Iw ld a tern1¢ IMpt So¢iay x¢k8 to I.1th I1 words oron¢ of lh¢ TOV mnthe andddminlstrthlon o beffl held via videfylink afid lry me of electroni¢ r¢pcqts miwtu. Fundins bee& affeeAeAI: bowevrf thls sour(¥ of io¢om¢ only prokld¢s a 8mdi of thc fundin8 yC4r. Tn th¢ was a lo*%¥ mbct of duc ¢0 app1k03 unable to vislt
The Benevolent Soclety of St Patrlck Report of the Grand Committee the 21Y20 lock-down and subs• rnslrictioEL8 having bKn h¢lfi by Videlink. Jdy 2022. The Society contitiued receive T¢rtS fmm the T A>ndon Iri%h Centre (LIC) tonri]Y th¥" of vur a3jcssm a8encics diBtribut¢ a]I thc fiyKl& The L'oLnmitt¢e ih¢r¢fmv dKided to plac¢ the fond8 into COIF Clwities Ol¢)b•l Equity Tncome An appr1•110• •f the and IDttreBt of •v •upp•rl¢rs The lety.# applieation for futtding rnder Ibe (knvernnmt of JkElaThi. PJni8falrt Support 30 Jull¢ 21r22 andis diB¢los¢d 8eparat¢ty 10th¢ fAnanCi State. subscrAbeyg and (knr& for IbeAr dwing the year. ard alyo to th¢ xed for ()ngoiD8 ¥W>POrt 8nd flmd rnisin& We like to acknowledge in TeIat of gubslantial Sums from St Jogeph's Charity in DubliTr who Ive for many yeaES been Stalwarl suppcqIcTS of tbe Soci. We would also l?kn to knowle gene support fft[ 'lJ London BorDugb of Southw. 'llJe Ca5Mnunily ]Loundatio Mr Ni8ll Molloy. aul Fund rai8iDR •vents 'I'haDks in lar8e part to the illitialive of C.hri*kr Dellew we have initiated ats arfftual FJcncv(knt Socicty ]CGtu ThB talk plaThrd for 2(120 had to b¢ callc¢ll¢d in LX)DSW of in SePteber 21y22. Thc aim 13 to u8¢ tlue talks tth vai8e iM)th funds athl Ilx profik of Ihe Benvmjent Society. Wc nu)st grat¢ to Edwin DDran for providkng wln¢ for ¢h ¢vent njust liv¢ in Gr¢ot¢r London and must either bave been born in JE¢1 or orte oz ofiJ>¢3r (a]though iome we for mucb smallLY and whi18t gra11ts quile olkn made of hi8h 8umg (geD¢rnlty no MO than £SOO% Ik sl¢ty not wish that to be the Jy)rnL Thc8e
The Benevolent Soclety of St Patrlck Report of the Grand Committee stsff of th08e organi8atiOM makin8 appli¢otlon8 b¢lMlf of Iheir ¢liAts are thathd IILeir Ongoin8 economic diffi¢ulde8 in ]r¢land and the UK do not help to alleviat¢ wobkms ot people than Iw beeft th¢ cw in recent ye8r4 although the 14r8¢ trtsh c4mmiunity ofold pwl4 m8ayofwhomar¢ lon¢ly ond isolatedwl in p)orpby8i¢al and DJe4kal IKalth ltinueS people living in the UL LIC'8 team been working hard to provid¢ inffflmtion md by me41ia are 8toriu. AdmlnhtralloA of Grants Furthex grants wae nwd¢ to UC 8nd SIPP. In all ¢ases care takcn (and 8iY¢o) basis. W¢ AK Very Vateful to him for hiB and for proYidtD8 his owo lothp¢tthnt Judge P•tri& ayn4 Preeithxt
The Benevolent Soclety of St Patrlck Report of the Grand Committee Ca$e Nsludks gubmlitsd by offr The recipient W&5 a young giTI of 24. 6 She kft IrelaThl at 16 and carne to F.ngland looking fnr h¢rwurts-th IwllK%n in a(c IM)Jne fiDmtsageof I l. Shemunawi violent. Shc found r¢fuE¢ in a womcn"s Trrt)ad and w&$ rccentty TehoLse41 Unfortunately, no Client B The CIPlent w&s a fraif in hez "s. Sk Arfcrs muhipk clwonic IKalth a]MJ referred to due to Isolatio 8clf-neElect a1 MaInOn. A 'gcod n¢i8hlM)w' was h¢lpin8 her with food aThl l)ut ber credit cd kn kn]y his girifri¢Mt In bctween these ri)un(L unly juus uf iyater in the fridb¢ lilile ni0 in the flee. The ¢upb08r(b W¢F¢ b. she now p5 into the lo1 shop to Ix¢k up Iv bred a1 MRIL Her gellerdl daneallour I Improv tly. She is lueid is i•lking Eoiftg shjpping forhetsclf when her . A of thes• The gra•ls E•ve• to pt•ple wh• prEe•t (o erA#A• ennot be nnder¢8¢imated #nd b¢ liftr¢b21fft1[•r the kndivinloth and Inv•lv¢(L In condu%ion: A from of our viduals and families involvaL W¢ Contin10 WitnaTr increase in the of pIe in add1t101 fuel lncreages expelt azalD kn the l•terp•rt ofthc yrar.-
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 2022
| 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 |
2022 Total £ Unrestricted 77,935 5,000 - 14,237 97,172 45,000 - 3,000 48,000 49,172 17,303 66,475 345,296 411,771 £ - |
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 £ - |
|---|---|---|
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 2022
| 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 |
6,375 39,574 (3,000) |
2022 Total £ Unrestricted 368,822 42,949 411,771 £ 227,635 184,136 411,771 £ - |
1,054 45,723 (3,000) |
2021 Total £ Unrestricted 301,519 43,777 345,296 £ 178,463 166,833 345,296 £ - |
|---|---|---|---|---|
The notes on pages 9 to 12 form an integral part of these financial statements
The Financial Statements were approved by the Trustees on 18th January 2023
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The Benevolent Society of St Patrick
Notes to the Financial Statements for the year ended 31 March 2022
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 |
2022 £ 76,329 1,285 321 77,935 £ |
2021 £ 18,638 1,285 321 20,244 £ |
|---|---|---|
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The Benevolent Society of St.Patrick
Notes to the Financial Statements for the year ended 31 March 2022
| 3 | Government Grants | 2022 | 2021 |
|---|---|---|---|
| £ | £ | ||
| Government of Ireland: Emigrant Support Programme | 5,000 £ |
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 | 2022 £ |
2021 £ |
| Annual Lecture | - £ |
- £ |
|
| 5 | Investment Income | 2022 £ |
2021 £ |
| 17,928 M&G Charifund Income Units | 13,446 | 11,564 | |
| 22,340 M&G Charibond Income Units | 525 | 670 | |
| 7,402 COIF Charities Fixed Interest Fund Units | 266 | 329 | |
| 14,237 £ |
12,563 £ |
||
| 6 | Grants Payable | 2022 £ |
2021 £ |
| Net Grants disbursed | 45,000 £ |
24,000 £ |
|
| 7 | Expense of Fund Raising Event | 2022 £ |
2021 £ |
| Annual Lecture costs | - £ |
- £ |
|
| 8 | Management and Administration | 2022 £ |
2021 £ |
| 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 2022
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 18,848.01 COIF Charities Global Equity Income Market Values 17,928 M&G Charifund Income Units 22,340 M&G Charibond Income Units 7,402 COIF Charities Fixed Interest Fund Units 18,848.01 COIF Charities Global Equity Income 11 Debtors Tax credit on Gift Aid Deferred grant receipt |
2022 301,519 50,000 17,303 368,822 £ 108,927 27,635 10,000 50,000 196,562 £ 283,214 26,362 9,246 50,000 368,822 £ 2022 £ 1,375 5,000 6,375 £ |
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 - 1,054 £ |
|---|---|---|
12 Bank Balance
In addition to the balance held in the Society's bank account at 31 March 2022 the London Irish Centre held £13,995 in funds awaiting distribution (2021 £13,521), and Southwark Irish Pensioners held £14,828 (2021 £6,536).
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The Benevolent Society of St Patrick
Notes to the Financial Statements for the year ended 31 March 2022
| 13 Funds - Unrestricted Balance 31 March 2021 £ General Reserve 178,463 Revaluation Reserve 166,833 345,296 £ |
Incoming Resources £ 97,172 - 97,172 £ |
Resources Expended £ (48,000) - (48,000) £ |
Gains / (Losses) £ - 17,303 17,303 £ |
Balance 31 March 2022 £ 227,635 184,136 411,771 £ |
|---|---|---|---|---|
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