2021-06-30-accounts - Sacred Heart Fathers Trust

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		Page
Report ofthe Trustees	1	to	6
Report ofthe Independent Auditors	7	to	9
Statement of Financial Activities		10
Balance Sheet
Cash Flow Statement		12
Notes to the Cash Flow Statement		13
Notes to the Financial Statements	14	to	23

REFERENCE AND ADMINISTRATIVE	REFERENCE AND ADMINISTRATIVE	DETAILS
Auditors
SB&P
Chartered Accountants	8 Statutory Auditors
Oriel House
2/8 Oriel Road
Bootle
Merseyside
L207EP
Principal Solicitors
Royds RDW
2Crane Court
Fleet Street
London
EC4A 2BL
Principal Bank
Allied Irish Bank (GB)
1StPaul's Square
Old Hall Street
Liverpool
L39PP
Registered in Scotland
SC041571
Registered in ireland
CHY7096

						30.6.21	30.6.20
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
			Notes	F	F	E
INCOME AND ENDOWMENTS		FROM
Donations and legacies				69,449	827	70,276	84,835
Charitable activities
General				133,541		133,541	118,165
Other trading activities					770	770	2,821
Investment income				267,754	747	268,501	277,935
Total				470,744	2,344	473,088	483,756
EXPENDITURE ON
Raising funds				18,901		18,901	18,928
Charitable activities
General				499,038	49	499,087	579,405
Total				517,939	49	517,988	598,333
Net gains/(losses) on	investments			723,194		723,194	(165,565)
NET INCOME/(EXPENDITURE)				675,999	2,295	678,294	(280,142)
RECONCILIATION OF FUNDS
Total funds brought	forward			11,116,179	202,422	11,318,601	11,598,743
TOTAL FUNDS CARRIED FORWARD				11,792,178	204,717	11,996,895	11,318,601

							30.6.21	30.6.20
				Unrestricted	Restricted		Total	Total
				funds		funds	funds	funds
			Notes
FIXEDASSETS
Tangible assets Investments			11	2,042,249			2,042,249	2,086,121
Investments			12	6,907,407			6,907,407	6,184,213
Investment property			13	50,000			50,000	50,000
				8,999,656			8,999,656	8,320,334
CURRENT ASSETS
Debtors			14	71			71	71
Cash at bank and in hand				2,835,459		204,716	3,040,175	3,028,446
				2,835,530		204,716	3,040,246	3,028,517
CREDITORS
Amounts falling due within	one year		15	(43,008)			(43,007)	(30,250)
NET CURRENT ASSETS				2,792,522		204,717	2,997,239	2,998,267
TOTAL ASSETSLESSCURRENT LIABILITIES				11,792,178	204,717		11,996,895	11,318,601
NETASSETS				11,792,178	204,717		11,996,895	11,318,601
FUNDS			17
Unrestricted funds Restricted funds							11,792,178 204,717	11,116,179 202,422
TOTAL FUNDS							11,996,895	11,318,601
The financial statements	were approved	by the	Board oi	Trustees and authorised		for issue	on ....rb....~...as..+L.

				30.6.21	30.6.20
			Notes
Cash flows from operating	activities
Cash generated from operations				(238,180)	(340,016)
Net cash used in operating	activities			(238,180)	(340,016)
Cash flows from investing	activities
Purchase oftangible fixed assets				(17,017)
Interest received				1,346	8,230
Dividends received				265,580	268,129
Net cash provided by investing activities				249,909	276,359
Change in cash and cash	equivalents	in
the reporting period Cash and cash equivalents	at the			11,729	(63,657)
beginning ofthe reporting	period			3,028,446	3,092,103
Cash and cash equivalents	at the end	of
the reporting period				3,040,175	3,028,446

RECONCILIATION OF NET INCOME/(EXPENDITURE)	RECONCILIATION OF NET INCOME/(EXPENDITURE)	RECONCILIATION OF NET INCOME/(EXPENDITURE)	TO NET CASH FLOW FROM OPERATING	ACTIVITIES
			30.6.21	30.6.20
Net income/(expenditure)	for the reporting	period (as	per the Statement
ofFinancial Activities)			678,294	(280,142)
Adjustments for:
Depreciation charges			60,886	56,753
(Gain)/losses on investments			(723,194)	165,565
Loss on disposal offixed assets			3	81
Interest received			(1,346)	(8,230)
Dividends received			(265,580)	(268,129)
Decrease in debtors				3,146
Increase/(decrease) in creditors			12,757	(9,060)
Net cash used in operations			(238,180)	(340,016)

ANALYSIS OF CHANGES	ANALYSIS OF CHANGES
		At 1.7.20	Cash flow	At 30.6.21
		F	F
Net cash
Cash at bank and	in hand	3,028,446	11,729	3,040,175
		3,028,446	11,729	3,040,175
Total		3,028,446	11,729	3,040,175

DONATION	S AND LEGACIES
		30.6.21	30.6.20
		E	F
Donations		17,378	9,859
Mass stipends		32,571	22,180
Stole fees		1,407	923
Collections	for clergy		2,417
Education	and training	18,920	49,456
		70,276	84,835
OTHER TRADING ACTIVITIES
		30.6.21	30.6.20
		E	E
Fundraising	events	770	2,821
INVESTMENT INCOME
		30.6.21	30.6.20
		E
Rents received		1,575	1,576
Dividend income		265,580	268,129
Deposit account interest		1,346	8,230
		268,501	277,935

							30.6.21	30.6.20
				Activity			f	f
Contributions	from members			General			99,041	118,165
Grants				General			34,500
							133,541	118,165
Grants received,		included	in the	above, are	as follows:
							30.6.21 f	30.6.20
Covid support grants							34,500
RAISING FUNDS
Investment	management		costs
							30.6.21 f	30.6.20 f
Portfolio management							18,901	18,928
CHARITABLE ACTIVITIES COSTS
							Support
						Direct	costs (see
						Costs	note 8) f	Totals F
General						420,481	78,606	499,087
SUPPORT COSTS
							Governance
					Management f	Other f	costs F	Totals f
General					32,765	1,239	44,602	78,606

10.	STAFF COSTS
					30.6.21	30.6.20
	Wages and salaries				41,948	45,399
	Social security costs				4,686	5,071
					46,634	50,470
	The average monthly	number ofemployees		during the year was as follows:
					30.6.21	30.6.20
	Charitable Activities				2	2
	No employees received emoluments		in excess ofF60,000.
11.	TANGIBLE FIXEDASSETS
					Improvements	Equipment
				Freehold	to	and
				property E	property f	furniture
	COST
	At1 July2020			1,366,046	1,143,576	191,097
	Additions
	Disposals
	At 30June 2021			1,366,046	1,143,576	191,097
	DEPRECIATION
	At 1 July 2020			434,585	192,665	10,523
	Charge for year			27,321	22,874	630
	Eliminated on disposal
	At 30June 2021			461,906	215,539	11,153
	NET BOOK VALUE
	At 30June 2021			904,140	928,037	179,944
	At 30June 2020			931,461	950,911	180,574

TANGIBLE FIXEDASSETS - continue	d
	Fixtures
	and	Motor	Computer
	fittings F	vehicles f	equipment	Totals
COST
At 1 July 2020	13,600	79,945	3,181	2,797,445
Additions		17,017		17,017
Disposals		(&,001)		(8,001)
At 30June 2021	13,600	88,961	3,181	2,806,461
DEPRECIATION
At 1 July 2020	3,064	68,051	2,436	711,324
Charge for year	527	9,347	187	60,886
Eliminated on disposal		(7,998)		(7,99&)
At 30June 2021	3,591	69,400	2,623	764,212
NET BOOK VALUE
At 30June 2021	10,009	19,561	558	2,042,249
At 30June 2020	10,536	11,894	745	2,086,121

		UK quoted	Other
		fixed	listed
		interest f	investments F	Totals F
MARKET VALUE
At 1 July 2020		6,160,945	23,268	6,184,213
Revaluations		719,393	3,801	723,194
At 30June 2021		6,880,338	27,069	6,907,407
NET BOOK VALUE
At 30June 2021		6,880,338	27,069	6,907,407
At 30June 2020		6,160,945	23,268	6,184,213
There were no investment	assets outside the UK.

	Cost or valuation	Cost or valuation	at 30June	at 30June	at 30June	2021 is represented	by:
								UK quoted	Other
								fixed	listed
								interest	investments	Totals
								f		F
	Valuation	in 2021						6,160,945	23,268	6,184,213
	Valuation	in 2022						719,393	3,801	723,194
								6,880,338	27,069	6,907,407
13.	INVESTMENT PROPERTY
									30.06.19	30.06.18
										E
	Agricultural	land -	Redbourne,			Herffordshire			50,000	50,000
14.	DEBTORS:AMOUNTS			FALLING DUE WITHIN			ONE YEAR
									30.6.21	30.6.20
									E	f
	Other debtors								71	71
15.	CREDITORS: AMOUNTS				FALLING DUE WITHIN ONE YEAR
									30.6.21	30.6.20
										f
	Other creditors								43,007	30,250
16.	LEASING	AGREEMENTS
	Minimum lease payments				under non-cancellable		operating	leases fall due as follows:
									30.6.21	30.6.20
										F
	Within one	year							5,276	7,397
	Between one and		five years						5,457	10,732
									10,733	18,129

MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1.7.20	in funds E	funds f	30.6.21 F
Unrestricted funds
General fund		4,576,961	88,509	(162,441)	4,503,029
Pension Augmentation		6,151,235	719,393		6,870,628
Inchicore, Dublin		246,789	(103,321)	91,241	234,709
Promotions		10	(3)		7
St.Joseph' s, Stockport		(16,558)	(10,014)		(26,572)
Smithstone House		78,127	(5,255)	37,200	110,072
St.John' s, Stockport		47,757	(16,139)	34,000	65,618
Ardlea, Dublin		8,451	2,827		11,278
Pilgrimage Fund		23,407	2		23,409
		11,116,179	675,999		11,792,178
Restricted funds
Moldova fund Fr0Wynne Book Fund		187,608 14,814	2,295		189,903 14,814
		202,422	2,295		204,717
TOTAL FUNDS		11,318,601	678,294		11,996,895
Net movement in funds,	included	in the above are as follows:
		Incoming	Resources	Gains and	Movement
		resources	expended f	losses	in funds
Unrestricted funds
General fund		268,956	(184,248)	3,801	88,509
Pension Augmentation				719,393	719,393
Inchicore, Dublin		36,272	(139,593)		(103,321)
Promotions St.Joseph' s, Stockport		(1) 22,597	(2) (32,611)		(3) (10,014)
Smithstone House St. John's, Stockport		48,246 24,530	(53,501) (40,669)		(5,255) (16,139)
Ardlea, Dublin		70,142	(67,315)		2,827
Pilgrimage Fund		2			2
		470,744	(517,939)	723,194	675,999
Restricted funds
Moldova fund		2,344	(49)		2,295
TOTAL FUNDS		473,088	(517,988)	723,194	678,294

Comparatives for moveme	nt in fun	ds
				Net	Transfers
				movement	between		At
			At 1.7.19	in funds	funds		30.6.20
			F	f
Unrestricted funds
General fund			4,676,470	84,860	(184,369)		4,576,961
Pension Augmentation			6,317,602	(166,367)			6,151,235
Inchicore, Dublin			261,971	(103,471)	88,289		246,789
Promotions			17,558	317	(17,865)		10
St, Joseph' s, Stockport			2,317	(18,875)			(16,558)
Smithstone House			59,096	(53,049)	72,080		78,127
St.John' s, Stockport			27,141	(21,249)	41,865		47,757
Ardlea, Dublin			14,380	(5,929)			8,451
Pilgrimage Fund			23,304	103			23,407
			11,399,839	(283,660)			11,116,179
Restricted funds
Moldova fund Fr0Wynne Book Fund			184,090 14,814	3,518			187,608 14,814
			198,904	3,518			202,422
TOTAL FUNDS			11,598,743	(280,142)			11,318,601
Comparative net movement	in funds,	included	in the above are as follows:
			Incoming	Resources	Gains	and	Movement
			resources F-	expended F	losses F-		in funds f
Unrestricted funds
General fund			277,976	(193,919)		803	84,860
Pension Augmentation			1		(166,368)		(166,367)
Inchicore, Dublin			64,029	(167,500)			(103,471)
Promotions			320	(3)			317
St.Joseph' s, Stockpori			23,038	(41,913)			(18,875)
Smithstone House			17,243	(70,292)			(53,049)
St. John' s, Stockport			17,002	(38,251)			(21,249)
Ardlea, Dublin			80,487	(86,416)			(5,929)
Pilgrimage Fund			103				103
			480,199	(598,294)	(165,565)		(283,660)
Restricted funds
Moldova fund			3,557	(39)			3,518
TOTAL FUNDS			483,756	(598,333)	(165,565)		(280,142)

MOVEINENT IN FUNDS	- continued
A current year 12 months	and prior year 12 months	combined position	is as follows:
			Net	Transfers
			movement	between	At
		At 1.7.19	in funds f	funds E	30.6.21 F-
Unrestricted funds
General fund		4,676,470	173,369	(346,810)	4,503,029
Pension Augmentation		6,317,602	553,026		6,870,628
Inchicore, Dublin		261,971	(206,792)	179,530	234,709
Promotions		17,558	314	(17,865)	7
St.Joseph' s, Stockport		2,317	(28,889)		(26,572)
Smithstone House		59,096	(58,304)	109,280	110,072
St. John' s, Stockporl		27,141	(37,388)	75,865	65,618
Ardlea, Dublin		14,380	(3,102)		11,278
Pilgrimage Fund		23,304	105		23,409
		11,399,839	392,339		11,792,178
Restricted funds
Moldova fund		184,090	5,813		189,903
Fr0Wynne Book Fund		14,814			14,814
		198,904	5,813		204,717
TOTAL FUNDS		11,598,743	398,152		11,996,895

A current follows:	year 12 months and prior ye	ar 12 months combined ne	t movement in fun	ds, included in t	he above are
		Incoming	Resources	Gains and	Movement
		resources	expended	losses	in funds
		E	F
Unrestricted funds
General fund		546,932	(378,167)	4,604	173,369
Pension Augmentation		1		553,025	553,026
Inchicore,	Dublin	100,301	(307,093)		(206,792)
Promotions		319	(5)		314
St.Joseph'	s, Stockport	45,635	(74,524)		(28,889)
Smithstone	House	65,489	(123,793)		(58,304)
St. John' s,	Stockporl	41,532	(78,920)		(37,388)
Ardlea, Dublin		150,629	(153,731)		(3,102)
Pilgrimage	Fund	105			105
		950,943	(1,116,233)	557,629	392,339
Restricted	funds
Moldova fund		5,901	(88)		5,813
TOTAL FUNDS		956,844	(1,116,321)	557,629	398,152