REGISTERED CHARITY NUMBeR'. 216011 Report ol tho Trust$ and Financlal Statements for thè Y•ar Endod 30 Jun• 2022 for Saer•d H•art Fath9rs Trust SB&P Chartercd Accounianis & Statutory Auditors Or*1 House 218 OT l Road Boei MeTSeySe 120 7EP
Sacred Heart Fathor# Contents of th• Flnan¢lal Statsments for the Year Ended 30 June 2022 Page Rgport of the Trustses Report olthe Indepond•ntAudito Statgm8nt of Flnanclal Aetivltles 10 Balat)C8 Sheet Cash Flow Stat•mont Note$ to the Ca¥h Flow Statsm¢nt 13 Not to th8 Flnancial Statsm•nts 14 10 23
Saerad Hèart FAth•rn Trust Report of the Tru8tees for the Year ended 30 June 2022 Th¢ truste¢s PT¢sent th¢w report with the financwl siaiemenis of the ¢harty for th¢ y¢aT ¢nd¢d 30 June 2022. The Is¢S havc adopt¢d the provish)ns of kncounting and Reptsrt8 by ChBritR5.' Ststem¢nt ofRe¢omm¢nded PractKe appli¢abk w chariiies preparth¥ Iheir aLGtruniS in 2¢COTdance with the Financwl Reporting Standard appLrabb in the UK and Rcpublic of Ircland IFRS 1021 leffeclive l January 2019). OBJECTIVES AND ACTIVITIES Oblectlves and alm$ The princal obFCtive ofthe charity Ihc &avan¢emcnl of1clb)n. Thiq inchjdes.. Th¢ pastoral care of indivkluaLs and group. To provide pLices ofspirituDI retreat, courses in personal dev¢bpm¢nl and r¢ligi)us ¢du¢atv)n A55i%tsnce with the on-going educatK>ll of ¢hildr¢n gnd young aduhs Th¢ relrOf poverty and 5i¢kn¢s$ ol home and abroad. To ass( in ihe relrfof pov¢rty abd its consequeMce$ areas of the MisSn ofthe Congregat and 1 area5 ofnawr81 disasiers. We students from poor¢r countrKs to swdy oi aocredned ¢ducaiK)nal fac11n$ n thc UK and Ir¢ knnd. W¢ koming students lo study al Tecognised Englh L4ngu?g¢ %¢hools to ¢nabk th¢ oimalv)nal devebpment or the cOngregBtn. To promot¢ vo¢Dtions and QnEoing fvThnotK)ns to the Congregalp)n and to ¢ducat¢ and tra both current and new M¢mb¢rs ofihe Con8r¢8aIn. Prov¥Jing placcs ofrctroai op¢n lo alL tife bng care for the membcrs. To promo* Ihe spmual moral and intellecbjal weltDeinB ofihe Members of the CongTegaiK)n. To provide servKes and nurs8 care for the sKk ind Bbjerly MBmbErs ofthe Congrtgatu)n accordance with the core values Dnd ethos ofihe Con8reADIitin. Pag¢ I
Sacrgd Heart Fathe Trust Report of thè TrustOèS forthe Year Ended 30 June 2022 ACHIEVEMENT AND PERFORMANCE Charltable activltles Th¢ Sacred Heart faihcrs continues lo offtr 5UPPOrt for students, adults, retreats, qu%1 illnes. spirknjil direclwn and acoompanNncni for tiidividuaLq and group5 ni various k>caiK)ns throu8houl Gr¢91 Britain and IrcLgnd. By its very natu thc Congrcgain is an apostolK Stitle. and so we readily place ourscfv¢s al th¢ s¢rYi¢e of the Church in it5 Varu5 pa510ral works. The adrnintstraiive CeTJtre for th¢ group al Si John's, SiockpgrL wh¢r¢, as w¢ll as Ot$ for th¢ Province AdTnini%trhiion. provtsion madc for opjer members, o$$isl¢d by the servKes ofihc St John of God l.lospitalkr scr¥¢. Si John'5 is a150 the scttni8 br Ihc ProTn01s Offic¢ th¢ functn of %vhi¢h ts lo prornole th¢ sprual of (he Sacted Heart and io keep in coniaci wilh bene&ctors. Various mailings are $enl out during th¢ y¢ar io OUT b¢n¢f8Blors during the yeiT. A ttcr i8 ul kDsI twi¢¢ & year informin8 benefactors of recenl new5 and events and vilg them to tnakB o conlnbut lo the WQTk orth¢ Sacred H¢art Fathets. Over IiTn¢, wilh 8n tiicreased age profik of b¢n¢faclots. the list has grown smajkr. At Ihtl Point. il important to note the inpacl of the Covid 19 pandernic and it5 afi¢nnaih on promolK>ns J¢twty. Ov¢ralL donat$ decreased durin8 the p¢riod. St John's aL40 has the fa¢ilny we komc 5rnall groups for p¢riod5 of prayer, retreat and rEtkcIll. Th¢se are day or evening groups. Si John's a150 weT¢omes young adults who be bng w ihe 2030 group. Proie¢i 2030 lln5 to provhle support and actiVitS 10 cnablo Ihc f8 iih for[natn and pcrsonal d¢v¢k)pmenl of mcTnbers through orBani4ed r¢lvgiou$ and social ev¢nls. Vi5ilin8 m¢mbcrs of the Congregat from abroad are a0 ¥vekomed ai St. John'5. Members ¢om¢ for mcelings ofihe Sacred Heart Fathers and have thc possibilny 10 spend sotne I)e Of$abbUt1 IheT¢. Currently, the Order admintstsTS the p2ri%hes of Sl John Vvdnney IDubknl. and Si joseph (Stockport towi centre. Cheshllel on behrtlf of the Tespcctive dioce5¢s. Tn the pastora I care ofth05e entru51ed ty us we aTh to give concrete expTessK)n 10 our spirituality and develop ihe life of Ihe Church. Dur8 the CovKt Pand¢m 8llendance 41 pllrish ¢v¢Dts #tty $trted. To reach out to peopk social tnedia wa5 Used and pastoral care coniit)ued M a more bnts¢d way. Th¢ Sacr¢d H¢an fath¢ continue 10 use social TnedrB in our parish ml$llY and the muiytitry of PTojecl 2030. Ov¢rall numbers attendiig rell$ services are still bw¢T th4n before Covid 19. The Con8regatK)n continues 10 deYek)p our ministy at Smi¢hslone House, VIlnti1g, AYrshe, scotnd. The communty organi%c te IEx)us $ervices llnd adult spirffual fomiaiK)n ¢ours¢s. Aduh faith thrMatn COUTse5 days of retreai are given ai varu$ lie5 during the y¢Br, The communny a bo we komc llld1vllaL fDf PTival¢ day5 of prayer and Te nt¢lion. During th¢ p¢nod, a s¢W.contatsi¢d pousiinia was d¢v¢knped. An dIVIdUal can spend 5¢v¢r&l days heTe undisturbcd, siknce and tr3nqulility. Tli¢ Community algo provides holidays for vi%ilin8 SCJ pr$¢5 and broiheis Ihrou8houl the year as we Tr as being a r¢sid¢Mce fLIT ekfjerly members. The deveknpTnenl of facilit$ and maintenance ofthc current buildMg5 is Te Ikcicd an incrca5ed cosi during the PCriDd. To dllce relianc¢ OD ¢lectricny and gas. the cornTnunity ai%0 instald wood burner slov¢s 10 provtde healing. makiig use ofinhber from the adpinin8 wod. The cornmunty al Inchicor¢ Road, Dublin. Ireland, is the main fomiaik)n communty and w¢komes n¢iv candKlatss 10 the CongregAiion. IT 8150 a resvJenc¢ for elderly reiired members. A5 the ¢¢ntr¢ of format it aLso wekom¢5 Students from the congregatrt who ¢OTne frotn abrolld to study. 11 also Mrkom¢5 mcmbers for sabbalKaL English n8u3ge and ren¢wal. The communtiy wi komes indIvu Ls aDd groups for personal devek>pment llnd SPTitual gTowth cluoing young adults who bebnE to the 2030 gTOUP. To provvje for the Care ofihe ttlderty two slaff ar¢ empk)y¢d. Conscqucnity, lh¢ ¢omtnunity ai 1chOre Road h35 a high¢r wage bill than any other Community. When Ihe cotllTnunty is unabk lo provKJ¢ The kv¢l of ¢tre n¢eded the nidivKlua I ha5 to be¢orn¢ Tesideni in a nur5iri8 hotne. Depending on ih¢ n¢ed5 of Ihe ld1v¥suaL thi% can be on a p¢rman¢nt or temporary basi%. Thts $itullli)n is con$laDity under revW. It ts our intentTr th&1 &ll rn¢mb¢r5 5houkS b¢ abb lo stsy th¥ CDmmunity for as long as P05s1bk. Thc Provinc¢ i% wc koming, open and outward bokin8 w¢l¢oming for 51udy or sabbaii¢al. It is niiend¢d thai members who avail ofthi8 Opportunity wil have & posthv¢ ¢xp¢rionce of life and ministy tr ihe Unit¢d kngdom and treL4nd. Thc Trusi supports members of the Sacr¢d Heart fathers who work in some of (he poorest parts of Europ¢, mo0Va l TranSdAster fynd acm5s the world in th¢ PhilN)pines and CaTneroon. Thc Fjnd for Moldova was sei up afteT Iho visit of Ihc Provin¢rd I lo the llrea some yegrs a80 and a rcspon$e to the exlrcme poverty of Peop there. The fvnd ts used 10 he (he Congregttiioa d¢v¢knp its sprnual and SOCk81 missx)n MO0V provIDg m91¢r1 aid and also hclping 10 support Ihc p&slornl work of the CongrcgaiYJn in MO30Va. The FJnd5 Ivill bc used to alvt¢ poverty, 81V¢ SUPPOrt 10 bcal com[nunit$. provid8 adum and youth fonnatK)n. Ènd provKle port contnl)ulion towards the butiding of pas10rn1 cenire and ¢hur¢hes, local rn¢dKal ¢¢ntr¢5 and so on. The proftci is part of con1nbutn of th¢ Congregation 10 Ihc ovcrall TlliSSKln of ihc Church Ki MoWov3. Th¢ Tru51 also made a ¢onir1buill to Ihe work of Ihe congrega1 in Cam¢roon. This is used in Ihe eduealion of students for ihe prKsthood ond in Ihe provi% of Iibiary books. Currentty, Ih¢r¢ are rn¥o pFsIs and onc brother from Caffleroon B5s1sIDI8 in the m¢ry ofthe ProVCe . one li England and two in Ireland. a sign niemaiN)nal Colboratn within the Ord¢r and he$ 10 fvrther th¢ rni$sn of the Sacred Heart FBlhers. Page 2
S8erèd Heart Father¥ Tru8t Report of the Trustee8 for the Year Endod 30 June 2022 Wilh regÈrd 10 the Book Fund ther¢ has b¢en no rnovcmeni stiice JUD¢ 2018. was du¢ lo ihc dcaih of Fr Owen Wynne who v5 r¢sponsbk for producing maierw l 1ClUding book5 and bookkts on ihe spwnuality olihe Congregaiijn. Th¢ ia5k ha5 now been reassigK¢d and Ihe fund will bc r¢vrw¢d as pan of (he overall review of promoli)n maternl mclhods. E#ch commvnty use5 volunl¢cTS varK)Us capacils. The rok5 n)Cde gdmini4tralion. kading 8roops. caring for the 5k, elde rly and dabd (ty¢]ud8 some volunteer retired nurses), housek¢¢piig and cbaning. Whi1 the Yolunleer5' work i% gr¢aity appr¢cialcd it Li noi approprnte to pla¢¢ an econom valu¢ on it and it i8 IhErefoTe Dot includ¢d Tr the Statement of FinaH¢rJ l There wa5 an Don4lwns and L£ga¢S receivcd, due maMty to a beque51 recEwed from a donor and an increase in donatn5 foT Educatn and Training. li nob that siole fees tsnd fvtsss slpends d¢cre8sed dumg the p¢rH)d. Thi% i% r8ety ro ihe ongoing tynptci of Covd 19 and reduced Congregatn5 ai re18b)US SCTvKe$. There was 3D increase in m¢di¢al expenses relle¢iin8 the care needs of member5. There was a150 an incieas¢ in travel expenses re¢ting th¢ oponD)g up of socty after the various hckdowvs and th¢ n¢cc55ity 10 8tt¢nd M¢¢tgS both loca lty and inlcrn31ionally. Thcr¢ was a dcGrc&$t in the atnount spenl on repair and matr¢tcnan¢c of buikjings. How¢ver, this cosi may incr¢as¢ aga in in lh¢ fviure and s conslanity under reYEw. Ll] (e all Re lisU5 Orders in Europ¢ the con8r¢gain has seen a decline TnetnbeTshi> in recent years rna du¢ to the deaih of elderly m¢rnb¢r5. How¢ver. prSts and broihers from oiher ports of the OTder hllve come lo and rn1er h¢rc on a pernaneni or exicnded basi% (always in eompliance with visa regutn$ when r¢quiredl. Thc internatnl kader5hip of Ihe Sacred Heart Faihelb in Rome ts keen 10 PTO]noie the exchange of approprwtety qualEd peonnel. Exchange of personnel i% &lwfyys reVW Dnd all rnu5t comply with policc vettbi8 and safcguarding policy and procedures. Th¢ Ord¢r will ronlinuc to b)ok for new ways of nd raising durti)g the ycar and seek 10 aitsaci new donors. li wlll ako ¢onlinu¢ w d¢ve knp gur promotnS r¢sourc¢s and maieriil. li will contUe kn devek)p IkS with other TegNins Trf th¢ cengregation 10 foster thc exchange of pcrsunncl. li will a150 Continue to 5UPPOrt the educalK>n of thture prKsts and broihets for (he Order. The Provnice wll Contlle buikl on the work already be lli8 And seek new way5 to promoTr and deve lop the WOTk ofihc 1rusi. FINANCIAL REVIEW Investment poll¢y and oblectlves Thc Invcslrneni PortfolK) is Suitab dwers1d lo reduc¢ Votilty. The charity's bn8 Icrm ltrn¢ horizon and the key Ivestmenl rk i5 infiaiK)n. The Trustees wish io tsrgel B iolal r¢wm obF¢iivc of uinaity)n plus 40kn ov¢r the bng term 2nd selected the Charity MuhpAss¢t Fuvd in orf¢r to a¢hi¢ve this. The tru51ees wuld also likc a rcgu&r, sustainab income from thcw lliveslmenls and have chosen to inv¢sl in the distributn unts whKh iarg¢l a 4¥¢ di%iributK>n per annutn. The charily i% abk to lokr8ie Vo11]Y of capit21 vglu¢ line with the pursuii of ihe k)ng *mi VeStMent tsbiective. the PTe5ervBtion of the r¢ul ¢apilal valu¢. Th¢r¢ ar¢ Do anticipatcd Capital cash fiow needs and IhB Charty has the capacity lo absorb short term knss¢s wnhoul prejud1n8 the k)ng tcnn sustainabilty. Pfige 3
Sacred Heart Fathers Trust Rèport of the Tru$tses for the Year Ended 30 June 2022 FINANCIAL REVIEW Reseryes pollcy Th¢ total ¢harw fvnds have decreased froln £12.OOtn 10 £11.4m during ihe year. Included With th¢ total fvnds are resirKTrd funds of £O.ZOm 12021 £0.20ml. Free re5erv¢s arc dcfined as unrcstrKled Teserves repres¢nl¢d by thc total ofcurreni asseis kss creditors. The free reserves al 30 June 2022 were E2.75tn12021 £2.8Om}. T8ng1bk ass¢is for use are excludEd on the grounds that they are used oper0tnal and Ih¢ir di4posal may advetsety nnpaci on the Charity's ability lo deliver its allns. The Pensx)n AuEmentaiitin fi]nd rcpr¢5¢nted by £6.5m invcsThents is also cxcluded on thc grounds thai Ihc charty i% Obled 10 seek a return on cDpilal lo ¢ontnbuie towards the on80 personal upkeep and ¢051s of elderty olld reiitd PT5ts. The charty's reserves poltcy recogneS the requiremeni io level of fr¢¢ r¢5erv¢5 that provvjes the folltswing 10 5uppon varx)us Charrtab a¢iiviiiCS.' Working C£pita I Funding of capital proF¢is IhAI main19in, llnprove and develop (he chariiy's portfobo ofbuildings tsnd aCtivits. AVH lble fijnds that be requwed in th¢ eveni of emer8encs and unfoTeseen events. B¢tw¢en 5 and 7 years running ¢xp¢nse5 al a Ve1 of approxllllaiely £400.000 Are a guKte fi)r th¢s¢ purpos¢s. On b38 a¢tu81 fre¢ r¢s¢ryes need 10 be beNveen £2m tnd £2.8m s well as managing free teseTh*s the charty tnonitors cash flow5 CareIty to ensure that fijnds are &vad&ble to meet onxoin8 operating and vapital qumenL. At th¢ ¢nd of the year unrestrKled cash ai bank was £2.80m 12021 £2.84ml The tru5t¢es revrw and monitor reserves on an annual basi5 and where they wjeniify reserves ri%e or Fdll 5vJn(Kantty 8bov¢ or below their tar8¢c Ih¢y consider ifcorreciive a¢tk)n i% necessary. The provclaI Bursar rport5 gularty lo the Trustees and receNes financBI reports bi-ttnnuAty from all the ¢ommuani¢s whh arc ihen revw¢d. Cash R•soNos and Inv05tments From the baLgn¢e sheei on page ckven ofthis repoTt it can be Seen Ihfyi there was tt decrease the vaTu¢ ofih¢ trust from £1 1.996,895 10 £11.437.251. Cash held in baJ)k a¢¢ount$ and ryi hand has maTginalty dccreased from £3.040.175 to £3,007,360. The land ai Redboume in Heftfordshire remfyins ki out as fami lld. We rene8oithi¢d th¢ reDI 4 kw y¢ar5 ago but we conlinuc 10 bok into ways that thts resource can improve it5 return for ihe Irusl. Page 4
Sacred Heart Fathgts Trust Report of the frust••s for the Yèar Ended 30 Jung 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT structure The Congregatn of the Ptists of the Sacred H¢8rt {SCJI was founded lli FT4nce. in 1878. In fjT¢g1 Briiallj and ]reLqnd the Congreg8lk)n ts known 8$ the Sgcr¢d Heart Father5. In olheT Parts of Ihe worw its members arc known as thE Dehonkin5 in reference lo th¢ Found¢r. fr. John Dehon. The Sacred Heart Fatheys i% a Religious Congr¢g81ion of m¢n wrthin th¢ Roman CaiholK Church. It i% an internatnal RehgK)Us Congrega ofover 2300 Prst5 and brothers living and workin8 M 42 ¢ounlTKS in five contentS. Th¢ Congrc8aib)n i8 div¥Jed into Provtice5. Regn5 and DK51rls. The Great Briiatii Irebnd Provin¢¢ ¢ornprwes Engknnd, Scotland and Iknd. The Congregaik)n firsi c8tn¢ 10 EnEland in 1936, to Scotland in 1970 and 10 IreLgnd ti 1978. Within Gre31 Britaffj and ]rend Iihe GBI Provinc¢l ti operates as a charnabk trust with a singk goveTninE body. Bam¢ty th¢ Provinciil Council which manag¢s the group accord8 10 the ttusl deed of the ChaEty 8nd the Canon of the Church. The Prov11 Council are Ihc truslce5 ofihe charty 108ether wilh Ihe bursar. There are regUr Mee18S of ihe proVclaI Council Ihrou8houi Ihe year. Fiianckl mallers are discussed by a ance ¢ommKiee Bnd by the trustees al deSn& moelings. The Sacred Heart FAiheTS operate m aG¢grdan¢¢ wnh the Constitutions and th¢ Provincul DYc¢tory of Sepi¢mb¢r 2014. Rlsk Management The trustees A¢eepl their Tcsponsibility to carry out and to r¢spond lo a YeguL2r rcvw ofthe risks lo yhh the Charty 15 exposed. By mcan5 of audits and Expert BUaliCe they s¢ek lo ¢n5ure Ihjt appropr&7tr financial controLq are in pknce lo provide reasonable &ssurance 484insi error tsnd fraud. MBnagemenl r¢oomm¢ndalions aring trom the annual audit are fijlty dtscussed ai a onCe meelng of ths truste¢5 and changcs arc r¢quird to be madc thcse arc iMpented as fully and quickty as possib. Publlc Benefit The trusiees acknowkdge ihe Charny Commi5sts)n's BtsKlan¢e on Publ Btnefft and have tok¢n lh nto account whcn revIewg and pArting their activit$. In their pknnntig for 2021 2022 they conSered lli partuknr. how besi 10 use Ihc resouTCCS of the Charty in re5pecl of Ilie duty ofcare ow¢d 10 th¢ okler m¢mb¢rb parti¢uLqrly in response 10 the Covid 19 Pandern. They a150 approved the coniinued devek)pmeni of Ihe communffy house in [n£hore Dublfft to provide berter fac11nS for students and the carc of thc eldBrty meTnbers of the COmTnunty resOent Ih¢r¢. They aL40 examined ai ways 10 devebp the fdiilits 81 Smithsiene House to provide better facilit$ for visitors 5¢¢king r¢tr¢al and P¢Tsonal renewal. On4olng Tralnlng I Profvsslonal Development New trustees are given niducik)n and tTaintiig as appropria and have b¢¢n PTovid¢d With ttkvant materiaL ICC3. & CC35. from the Charity commSK)n for Bllgland and Waks) The butsor aiiends coursts and confe]en¢es designed to keep up-to4#te with best Prate in Bri¢au) ond Treland. He has professK)nal Dssi51anc¢ from a firm of chart¢r¢d a¢¢ounlanis wilh understanding of the Charny sector. The bursar is a member of the Associatton of Provtsic¢ Bursars IAPBI and partKipaics til prof¢ssK>nal devebpmenl pro8r8mm¢s naiK)na lty and int¢rnaik)nally, REFERENCE AND ADMINISTRATIVE DETAILS Rg915tsr8d Charity numb9r Prfnclpal address St John's 266 Wellingl(>n Road North sCkport Ch¢shi SK42QR Page S
Sacred Heart Fathers Trust Report of the Trustees for the Yèar Ended 30 Jung 2022 Trustees R¢veT¢nd Fl Hanky SCJ RBvcrendJ KeltySCJ Reverend J Matthews SCJ Ite5ign¢d 1.3.23) Rcvercnd R MDnn SCJ Reverend P Murphy SCJ (reSn¢d 1.3.Z31 Keverend M Szahva SCJ lappoinled 1.3.231 Reverend M S Tem80 SCJ lappoinl¢d 1.3.231 Auditor8 SB&P Chartetcd Ac¢ountsnlS &Sialutory Audtior5 or l House 218 Orrl Road Bootk M¢vsoys¥J¢ [20 7EP Principal Solicitors Royds RDW 2 Crane Court Fk¢iStr¢ci ix>ndon EC4A 2BL Principal Bank Lloyds Bank Rcgeni Slreci Wrexham tLI I ISE Registered In S¢otland SC041571 Rgglstered In Irglond CHY7096 STATEMENT OF TRUSTEES. RESPONSIBILITIES Thc iTU$l¢¢$ are rtspon5ibk lor preparing Ihe Re port of the Trustees and the financwl 51alemcnts in accordanee with law fyppli¢2bk 10 charities operAting in England nd Waks. gnd in Scolknnd, namcty Ihc Charnies Aci 2011. Ch&rity IAccoun15 and Report51 ReguLItK)n5 2008. the Charli¢5 and I'rusie¢ Investh)¢nt IScoiFaftdl A¢1 2005. CharitS Acoounis {Scolnd} Regukniv)ns 2006 and the PYOViSK)ns of Ihe trust deed requves the trustees 10 prcpar¢ finan¢wl siai¢m¢nts for ¢a¢h financia l ycar whh givc a truc and vW ofilic slate of affDirs of ihe ¢harty and of th¢ in¢omllig sources and appl4110 ofresources, clUding the income and expend¢ur¢. ofthe charity for Ihal perK)d. tn preparin8 thos¢ financrdl giatcments. the knstee5 are rquwcd to.. se kcl suitable accounting poliCS and then appty them consistsnity; obs¢ry¢ rh¢ m¢thods anij pm¢ipks in the Charily SORP., makc judgem¢nis and eginateS thai ore reasonabk 2nd PTlldent'. PTcpllre ihe anCi41 statements on th¢ going ¢on¢crn b95i5 unk5s it iiapproprMl¢ to presume thai th¢ charity will ContUe in busine5S. The trustees are respon5bi k for keepins proper accounling records whh d¢Se wrfh y¢a50nabk accuracy ai any time the fin&ncittl positn of the ¢hArty and lo cnabk them lo ensure thai the finoncrdl siaiemcnts compty with the Charit5 Act 2011, the Charty (Accounts and Reports) Regu1)n$ 2008. the CharnKs and Trusiee InvesiTnenl Iscoikndl Acl 2005, Ihe CharitS AccounTs (scotnd) Regu1)n$ 2006. and Ihe provision5 of the trust deed. They aTe rcsponsbi for s&kguarding the as5¢ts 01. th¢ ch&FY and h¢Thc¢ for taking re950nbI& 51eps for th¢ pTevenin and detec1 of fraud and other irre8uLiritKs. Page 6
Sacred Heart Fzthers Trust Report of the TnJ3lees for the Y¢ar Ended 30 June 2022 Approved by OTd¢r ofthe board of trustees on 21 November 2024 and sgned Dll rfs bchalfby.. Rev John Kelly SCJ Reverend J Ke Ily SCJ Trust¢¢ Page 7
Report of th• Independent Audltors to tho Trustgè$ of Sacred Heart Fathers Tw$t Oplnlon We heve audned the fin8n¢ial $lXleTnenls of Saorcd Heart Father5 Tru51 (th¢ 'charny? for Ihe ycar ended 30 Jun¢ 2022 which ¢ompri%e the StateEnt of Fan¢ll1 Activls, the Balance SheeL th¢ Cash Flow SiaieTnenl and nows lo the financial slatemeI$, including a summary of significant a¢¢ounting polic5. The financkql reporting framework thai has been apPld in Ihew prEparation is appIab law and United kn8dom Account9 Sthnddrds (United Kingdom Generaly Aecepied Aceountujg Pr3cli¢¢l. In our opInn the financwl slalemenl5'. give a true and fa view of the slat¢ of the charty's affaws i& at 30 Jun¢ 2022 and of its in¢oTllinE re50UT¢¢5 and applIcatn of rc50urce5. br the year then ended., hDve been pioperty Ppared accordance wnh United t&ngdom Gen¢rally A¢¢cpt¢d A¢ctsuniing PrACte. Ind b¢¢n prepgr¢d accordancc wih the requeMentS of th¢ Chariti¢s Acl 2011 and the Charitr5 and Trustee Invcstm¢nl Iscotfyndl Act 2005 and re8uLgik)n 8 of the Chariti¢s Accounts (scotla) Regu¢)$ 2006. Basis for opinion We conducted our audii ACCO&vK wth InlernaiK)n&l Standards on Audit8 IUKI IISAS (UKII and appI#b knw. Our re5ponsibililies under thos¢ sljndards are tther descrbi ed in the Auditor5, r¢spon51biliiies for the audit of the financial slaleTnenls sC¢tn of our Teport. We fyre indep¢nd¢nt of Ihc Charty in a¢¢ordance with th¢ ethal r¢quir¢m¢nts Ihal arc rt kvani 10 our audit of Ihc financigl st31ern¢nls in Ihe UK in¢luding the FRC'5 Ethical Stsndard, and we havo luifilkd our oiher eihiial rEsponsbi ilit$ 8c¢ordance with Ihese rtquiremtnls. W¢ b¢ SVe that the audit ¢ven¢t we have obta¢d ts sUfficnI and Dpproprwi¢ lo provKle a basts for OUT Opin. Conclu8lons rglatyng to golng ¢on¢em In audiiing (he financial siaieThenl$, we have coTrclud¢d Ihai ihe truste¢8' use trf the going concern b8515 of accounting in the preparation ofthe fmantl stAtem¢nts appropria. Based on the work we have perfornied. w¢ hav¢ noi ¥Jentifjed any marial uneertanitEs rektu)E 10 ¢v¢Dts OT condnhins thtti. IndildUalty or colkctwety. may ¢851 significani doubt on Ihe charity'5 abllty to continu¢ 95 a going concern for a period ofat kasl t1ve months from when (he fnanciq I sthiements are Authortsed for tssue. Our responsthililrs and the r¢spon5 lIllS of the mjsiees with respect to goin8 concern ar¢ d¢5¢r•¢d in the relevant seclK)ns of thi% report. Oth•r Inforniatlon The trusiees are TesponsTbk for the other nlf0rni8tn. The oih¢r infornarK)n CoMpre$ Ihe infomaiR)n (ded in th¢ Annual Report. other Ihan Ihe finJnc&ql Sla ments Bnd our R¢port of (he Independent Auditors thereon. Our opinKJn tsn the financtal 51al¢rn¢nis do¢s noi cover Ihc other iifoTmO1ion 2nd. excepl lo th¢ ¢xt¢nl oiherwise explicitty stakd in our r¢poTL w¢ do notexpr¢ss any rom of8ssuran¢e ¢onGIu5i)n therron. Tn conneclK>ll with OUT ofih¢ financial stai¢m¢nis. our responsiThtlity i$ 10 rexd the other forMation and, do2ng so, ConseT wh¢iher th¢ other inforniatn materially Mconsislcnl th the finan01 slBtcmenls or our knowledge Obtaed the Budit or otherWe app¢ars be rnaierk?lly mslLd. If we Klenlify such matrrigl COnSiSten¢$ or appttrent mater1 mi%5tai¢m¢n15. we are required to deiennine whether thi% gNe5 rise lo a mal¢rkil msta1¢Ment the 8nci?1 51atemenls Ih¢mselves. If, based on the work we hove performed, con¢de thai ther¢ i8 a mlllerFal mis5ts1em¢ni of this oih¢r lfoallon, we ale requTrd to report that fa¢l. W¢ hav¢ nothtiig 10 r¢port in thts rcgard. Matters on which we arg rgqulrod to report by exc•ptlon W¢ havc nothing lo rcport re5peci of th¢ folbwing mlliicrs where th# ChartiS IAc¢ounts and Rcport51 R¢8ulaiTons 2008 and the Chllrilks Accoun15 Iscoihndl Regulaiions 2006 requires us 10 report lo you if, our opuiK>n'. the inforrnDlion giv¢n in the Report of Ihc Trustees iq M¢OllSiSlent any m4t¢r4I1 r¢sp¢cl with Ihc hancral siaieThents', or suffi¢Knt accounting vccords have not been kept. or thc financia I stsiemenis are not in igTeemEnl wtih the accounting records and reiums,. or w¢ hav¢ nol recetved all the rOT[n&tn alld explanaiK)ns w¢ r¢quire for our audi. R•5ponsibllitTr88 of trustegs A5 explained more fully the S121eTnenl of Trustees. Rc5ponsibilili¢s. Ih¢ Iru51eC5 ar¢ rcsponsibk for the preparatn of the financMI siaiemcni8 whKh give a true and raw vrw. and fi)r such niernal conirol as Ihe trustees deterni¢ n¢¢¢ssary 10 ¢nabk the pparatll of finllnCil 51at¢m¢nts thgt 4re fic¢ from matsrk31 M$11¢eInCn( whcih¢T du¢ lo fraud or errol. tn Prcparing the hancial slaremenls. the trusiecs aTe respons1b for as5es5ing th¢ charty's abilny io continue ns 8 going concern. di4¢k)stiig, as appIab, maiters rtklied lo going concern and usuig Ihe 80ing concem basis of Accountllig unless th¢ trys*¢s etther niiend 10 lÈquTd8ie the eh&Tty or to cease op¢rgtK)ns. or have no reats5t fthernative bul lo do $0. Pag¢ I
Report of the Independont Auditor5 to the Trusto•s of Sacred Heart Fathers Trust Our resptsnslbllttles for the audlt ol the Itnancial ststements We have been appointed a5 3udilor5 under Sect 144 of th¢ Charit$ Act 2011 And und¢r S¢¢tiJn 4411)c of the Charities xnd Tru51¢¢ Inveskneni IS¢oiLMndl 2005 and r¢port lli accordanBe wth th05¢ A¢r5 and relevant regUtnS made or having e&¢1 Ihereunder. Our obi¢¢rivc5 are lo Obta rtasonabie assuranc¢ aboui whether the fintsncTAI 51alements as a whok are free from rnai¢rial rnis51aiemenL whether due to fraud or error. and to ty$u¢ a Rcport of the Ind¢pendenl Auditor5 that In¢deS our opniTon. Rea5on8bk assurAnce a hish kvel of as5Utance, bul il noi a guarantee thal audit conducted accordance wffh ISAS (UK) will always d¢ie¢i a tnalerBI MStateMenT when I extsts. Mi55tstements Can aTtsC from fraud QT erroT ond ar¢ considered material if. tidiva1ty or lli the aggrtgate, they could reasonably be expecied lo fluenGe the econom dec10$ of users taken on the bas of these finan¢rdl st&lements. Th¢ ¢xt¢nl to which our pro¢eduTts &re c&p&ble ofdeleciing fft8ularilies, includ8 fraud dereded below.. The obie¢iives of our 3ud¢ are to entify and a5ses5 the ri5k5 of material misstaEemeni ofthe financ1 stat¢m¢fjls due 10 fraud or error., lo obta tsi SUnI applDprle audit ¢vidence regardthg the asses$ed risks of marerial mii$ialeEnenl due to fraud oi ¢rror.' and 10 respond approprEi¢ly to thosc rks. Owing lo the tnherenl linitalions of an audit. there is an unavotdabk risk thai mate N I misstatements in the 6nan¥ial siaiements may not be detected, even though the audit property pknnned and performed accordance with the tSAs IUKI. identify8 and assesslli8 risk of rnat¢rMI mi£sraiement respe¢l of iry¢guLqrll5. ¢dIng fraud non-compliance with laws and regulalK)ns. our pro¢eduTCS clUded the folbwing.. W2 obtsin¢d und¢rsthndin8 of the kgal and regUtory fram¢work$ applicabk lo the Gharly and Ihe secior in which il oper&ies. We deierrtsied thai the folbwing hws and rCgJkntns were tnost signthcant.. the Charit5 Aci 201 I, the chaT5 and Trustee Investmcnl Iscoitsndl AGt 2005, r¢8UL2tn 8 of the ChaTitK5 Accounts Iscouandl Regulatn$ 2006, UK corporaE¢ tax laws. UKemploytllEnl tsw5 and UK heakh and s& fety ]tionS. W¢ obtain¢d an und¢rslandin8 of how the Charty ¢omptying with rhose SaI and regUtOry fr3rn¢works by mak8 enquiries of manllgemcni, rcv1cwg the b03rd meetuig minus, and reviewing the &Al ¢osi$ curred in the year and ¢nquiring wnh management to the ¢wcttmsranc¢s around thcsc kga I cosrs. Wc ass¢ssed the susceptibiitty of the ChJrity'5 financKIl 51aiemenlS 10 MaterliY mi55ralcmenL includtiig how hud might o¢¢ur. AuJil pro¢edure5 perfotmed by the audn engagement team inGknd¢d.. enitying Ihe ¢olltro& that rn4nagem¢nr has in place fo prcvenl and dele¢f fraud.. Chaltenging assumptions and juégemenis made by tnallAgernenl in its significant accouniing esiimaks,. auditllig fhe ri4k of managemcni oveTTtdc of controts. includng through testing fvurnal entr3 and other adpslrn¢nts for appropriatcncss. and evaluatin8 the busines5 ratK>nab of snI6¢81 rransaciions outside th¢ nonnal course or business.. assessing the of compbBna¢ with th¢ rekvant knws and regu&tK)ns. and A fvrtheT descriptn ofour responsibilitrs for the audit of thc financial 5t&temenls is k)¢atcd on th¢ Finan¢k?l Reptrrting Councifs website ai www.frc.org.uk13uditors r¢5p0nsthilil$. Thi% desCrli0n fornis part of our Report of the ]ndepeDdeni Auditots. U$e of our r•port This report m&d¢ 50k ty to the charty's trnSlBBs, as a body, in a¢¢ordancc with Part 4 of the Charfties (Accounts and Report51 Re8uL4tK)ns 2008 and in a¢¢ordan¢e with Regulation 10 of Ihe Charlies A¢¢ounisIScoilAlldl R¢gufglions 2006. Our audit w)rk has been undBrtaken so that mighi srate lo the charty'5 trustee5 those matters wc are required io siaie 10 Ihem in In auditors, report and for no other purpose. To the FulSt eKtent permitt¢d by w. we do not &¢ccpi or assume respon$ibdty 10 Enyone other than the charity and the charity's tru5t¢es as a body, for our audit work, for this r¢porL or for the Op)n5 we have forned. SB&P Chartered Accountants & Sthtuiory Audtiors OT*1 House 218 Oriel Road Boot MerseYse L20 7EP Date.. 22.11.2024 Page 9
Sacred Heart Fathers Trust Slatsm•nt of Financlal Actlvities for the Year Ended 30 June 2022 30.6.22 Total funds 30.6.21 Totsl nds Unrcsiricted fiJnd$ ReStrted fjjnds Notes INCOME AND ENDOWMENTS FROM Don&lion5 and 9a¢S 110,908 1.620 112.528 70,276 Charitsble ac¢ivlttes General 98.907 98.907 133.541 Other tTadiig activi*s Investsneni iicome 16,112 276.092 16,112 276,092 770 268,501 Total 502,019 1.620 503,639 473.088 EXPENDITURE ON Raising funds 20,555 20,555 18.901 charltable aCtltIeS Get)eral 587.938 587,938 499,087 Total 608.493 60B,493 517.988 Nei gain51(k)sse51 on inve5M)ents' 1454,7891 14S4.7B91 723.194 NET INCOMEIIEXPENDITUREI 15613631 1,820 1559,8431 678,294 RECONCILIATION OF FUNDS Tota I funds broughi forward 11.792,178 204,717 11.996,B95 TOTAL FUNDS CARRIED FORWARD 11,230,915 206,337 11,437,252 11.996.895 Thc note$ form pllrt ofth¢$e 6nan¢ial stsietnent5 Page 10
Sacred Heart Fathern Trust Balance Shè8t 30 June 2022 30.6.22 Total fund¥ 30.6 21 Total fvnds UnreStrl¢d fuDd5 Re5trfted nds Note5 FIXED ASSETS Tangibk assets Inv85trn8nts Inve51Tnents Inv¢51rn¢nt prop¢rty 1.981,471 1.981,471 2.042,2JO 6.452.618 so.000 6,452,618 50.000 6.907.407 50,000 8,484,089 B,484,089 8.999,657 CURRENT ASSETS Debior8 CH5h al bBnk and in hand 71 2,801.024 71 3.007,360 71 3.040.175 206,336 2.801,095 206,336 3.007.431 3.040.246 CREDITORS Amounis fallng due within one year IS4,2691 154,2681 143.0081 NET CURRENT ASSETS 2,746,B26 206,337 2,953,163 2.997.238 TOTAL ASSETS LESS CURRENT LIABILITIES 11,230.915 206,337 11,437,262 11.996.895 NET ASSETS 11,230,915 206,337 11,437,252 1,996,895 FUNDS UnrcslrKt¢d fvnds RestrKTrd fjjnds 11.230,915 206.337 204.717 TOTAL FUNDS 11.437,252 1,996,895 The financial siaiemenis weTe approved by the .21.NoyRmb.or.2Q24llnd wer¢ Sne on 15 bchaifby.. Board of Tstee$ and 2UthoTi%td foT i4$ue on Rev John Kelly SCJ J Kelly SCJ - Trustee Thc notes form PDrt ofthese finan¢iBI stsl¢mcn15 Pag¢ 11
Sacred Heart Fathers Trust Cash Flow Statement for the Year Ended 30 June 2022 30.6.22 30.6.21 Notes Cash flow8 Irorn operatlng aCtIve3 Cash gencrated from operaix)ns 1307.3321 1138.1791 Nei cash used in operating activn5 1307,3321 1238.1791 Cash flows from Inv•stlng activlti Pur¢hgse of langibk fDted b55ets Interest receiv¢d Dividcnds r¢c¢ived 2,547 271,970 1,346 265.580 Nei cash ptovided by invesiing ac[Nit5 274,1517 249.908 Changg In ¢a8h and eash equlva18nt8 In the r¢portlng period Cash and ¢a8h equivalents at ¢he boglnnlng of the reporfng p?rlod 132,8151 11.729 3,040,175 3.028.446 Cash and cash gqulvalgnt8 al thg gnd of the reportln9 period 3,007,360 3.040.175 The nni¢s fortn part ofihe5e finan¢Tal siawments PBge 12
Sa¢rod H•art Fathèts Trust Note8 to the Cash Flow Stslgment for th• Year Ended 30 June 2022 RECONCILIATION OF NET IEXPENDITUREIIINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 30.6.22 30.6.21 N8t lèxpendltureyincome for the reporttng perlod la8 por th• Statement of Finan¢lal Actlvitiesl Adjustments for. Depre¢kiiti)n charges Lnsse51{8dinl on inVESttllents L055 on diqpo$lll of fied is$ei$ Inleresl releived Divid¢nd5 ieretved Tncrease ¢r¢dittirs 15S9,6431 678,294 60,780 454,789 60,886 {723.1941 12,547 1271,9701 11,259 11,3461 1265.5801 12,758 Net eash used In operatlons 1307,3321 1238.1791 ANALYSIS OFCHANGE5 IN NET FUNDS Al 1.7.21 Cash tbw At 30.6.22 Ngt Cash c$b DI b2nk hond 3.040,175 132,8151 3,007,380 3,IJ40,175 32,8151 3,007,360 Totsl 3.040.175 132.8151 3,007,360 The nai¢s forni part ofihe5e financ1 51atemenls Page 13
Sacred Heart Fathers Trust Notès to th• Flnanelal Ststèments forthg Ygar Ended 30 June 2022 ACCOUNTING POUCIES Basls of preparing the ff nanclal statements Th¢ financial slaleTn¢nls gf the ch8rty. which a publK b¢nefft entity under fRS 102. have been prepared in a¢cordanc¢ with th¢ CharitKs goRP IFRS 1021 'Ac¢ouniing and R¢porttiig by Charitxs.. Stsmeni of R¢¢ommcndod Prnctl¢¢ appIab 10 charAs prepamg thetr accounts tsi a¢¢ordan¢e with ihe Finan¢iql R¢purting Standard fjpplKabk in thc UK and RepublK of Ireknnd (r.RS 1021 l¢lk¢iNc l January 20191.. Financial Reportnig Standard 102 'Th¢ Fuiancl Reporting Stsndard appb¢abk ll the UK and Republic of Ireknnd, and the Charities A¢1 2011. The financial siatemcTlts htve bcen prepated under the historical cost conventK)n. wrfh the ex¢cplk)n ofMvesttnenis whKh llrE tlded Ét tnarkel v&lue, os modifiBd by the reValuatn of ¢¢rtain 955¢ts. Incomè All cOMe is recognised in the Slaiemenl of Financ1 ActivitKs onee the charty has Clliitkmcnt lo the fijnds, is PTob&bk thai the income wll be received and the omount con be measured relmbty. Expendlture Lilbliilrs are recogni%ed 35 expenditure 05 500n &5 there is a gaI or constructive obligat committin8 the charity 10 that expenditure, it is probabte that B transfer of e¢ono]nic benefit5 wdl be requwed in 5ettkmenl and thc amount of the obligation can be rn¢asured r¢lkibty. Expenditure i5 accounted for gn nn ac¢ruaLs bas and has b¢¢n cL4sslfd under heBdlligs that aggregate all c051 rebted lo the category. Where cost5 cannoi be dwectly gttrbi uted to partllr heading$ they hBve b¢¢n 8lk)cat¢d to activits on 8 b&$i% con$tstent wih the u$ ofresource Support costs Co51s whKh, while ne¢es5ary kn debvtr an actiyily, do noi themselves produce the activity. They iiclude the Ccnrral office nCtll$ of the chaTty and arc often apportK>nEd to aciivitS. The &mount shown here É the total amouni of support C051s (for charitab. fvndraisin8 and 8overnance aclivit*sI in¢lud¢d in Tesources expended. They are appOrtn¢d ai ihc folknwing perccntsg¢s. Gov¢rnall¢e ¢osts Premises c0515 CommunicaiK)n costs Travel P¢rsonnel loo% io% - 50Yo -25% io% -25% Gov•man¢e costs Exp¢ndrure on the 8overnancE tosts ofthe chartiy llicludes expendffurc that ¥elRt¢s spc¢ificalty lo the strnlcg and fvwr¢ devcbpment ofthe chttrity. Tangible flxed assets D¢preoiqIn is provKled Bt the folbwing annuul rates in order 10 writ¢ off each 4ss¢t over it5 estimated v5¢fv1 Fr¢¢hold property Equipment and fvrniturc Mtrior Veh$ Compuier egUtpm¢nl 20/0 on cosi 50/e on reducing balanee 25% on cost 25% on reduc@ bA&n¢e Invostsngnt property The inv¢5tmenl property hD5 been valued 21 £50,000 by the board of tNst¢¢5. Taxation The charity i8 exempi from lax on its ¢harilabk 8¢livitks. Fund accounUng un$trlCd fund5 be used in a¢¢oTdanc¢ with thc ¢hgritllbk obiBCtiYes at ihe di%¢reib)n ofthe trnstee¥. De5ignal¢d fvnd$ compri%e unlestricted fvnds s¢t as¢ by the truskes br partUL1r purposes. The tN51ees opeTate each COllLtnunity and proF¢t ofthe ¢ha¥ity as a $¢p&rate designated nd. ReStrted fullds can only be uscd for parti¢uknr r¢stri¢ied purposes wnhMI th¢ obi¢¢ts of the charity. Restriclitins arise whcn specified by lh¢ donor or when fijnds arc raiscd for partKular restri¢t¢d purp05¢5. Pa8¢ 14 continued...
Sacred Heart Fathers Trust Notès to the Flnanclal Statements . ¢ontlnued for the Year Ended 30 June 2022 ACCOUNTING POLICIES- continued Fund a¢¢ounting Further expknnlllitin ofthe natUTE ad PUTpose of¢&¢h fund TrCded li ihc notes Ihe fjnanciil statements. Fund tran5fErs ocBur b&4nnualty in the charty to T¢glb¢al¢ financial r¢sour¢¢s b¢twcen the designated fijnds and the geneTal ofthe ¢h2Fity. Fund5 rai4¢d or donalnS aUthOred by the trustees, for Ihe restric*d 8¢1ivities Bre aLso trttn$f¢Tr¢d. Foreign currencles Ass¢ls Dnd liabilliS in foreign cunencK5 are transLRtrd into sierlnig 81 the Mfrs of exchartge ruling at the bance sheel date. Transactions in foreign cunEn¢$ ale knnsbied 10 sierling ot th¢ rat¢ of exchangc ruling al Ihc dai¢ of tt8nsactn Investsnents tnv¢stmenlS are Cluded in the financial 51al¢ments at the year ¢nd market value. Jncome from njvestments. bank and other deposts arc includ¢d on an accruab bas. DONATIONS AND LEGACIES 30.6.22 30.6.21 Donations Ma5$ 51p¢nds Stok fecs S uppty fees Educaiijn and training 30,833 23,392 2,041 4,128 52,134 17,378 32.571 1,407 18.920 112,528 70,276 OTHER TRADING ACTIVITIES 30.6.22 30.6.21 Funifrai5ing ¢v¢nts Other n¢om¢ 16,072 1,040 770 18,112 770 INVESTMENT INCOME 30.6.22 30.6.21 Rents received Dividend incorne Deposn accouni iiteresl 1,575 271,970 2,547 1,575 265.580 1.346 276,092 268,501 Page 15 contlliu¢d...
Sacred Heart Father8 TruBt Notès to the Flwranclal Statements- continued for the Year Ended 30 June 2022 INCOME FROM CHARITABLE ACTIVITIES 30.6.22 30.6.21 Aciivffy GEneral General coninbulns from members Grants 98,907 99,041 34,500 98,907 133.541 Gronts Teceived. llicluded in th¢ abov¢, ar¢ as follows.. 30.6.22 30.6.21 Covid support grants 34,500 RAISING FUNDS Inve¥trnent managemènt costs 30.6.22 30.6.21 PortfolB) rnana8ern¢n¢ 20,555 18,901 CHARITABLE ACTIVITIES COSTS S upport 51s 15¢e not¢ 81 DiTe¢t C051s TotsL5 General 463,192 124,746 687,938 SUPPORT COSTS Goveman¢B Costs Management Oiher To¢#is Gencnl 35,940 1,255 87,551 124,746 TRUSTEES. REMUNEFIA TION AND BENEFITS There were no trustse$' remuner&iK)n or oiheT benefits for the yeBr eLded 30 Jtsne 2022 nor for the ¢nd¢d 30June 2021. Trustse3' txpen8e8 TheTe were no trus*es' expenses pAvJ forthe yeaT ended 30 Junc 2022 nor for the year cnded 30 June 2021. 10. STAFF COSTS 30.822 30.6.21 Woge5 #nd saLgTies Socig15e¢urity c05ts 43,636 5,421 41.948 4.686 49,057 46.634 The averHBe monihty number ofempbyee$ during lh¢ year was as folbw5'. 30.6.22 30,6.21 Charitable Activn5 No ernpbyccs ¢¢iVed ¢moium¢n15 ll) ¢XC¢55 9f£60,000. Page 16 conlinued...
Sacred Heart Father8 Trust NtsteB to the Financlal Ststements- contlnued for thg Year Endgd 30 Jung 2022 11. TANGIBLE FIXED ASSETS Improvcmenls to prop¢rty Equpmcnt and mtiure Freehold property COST Al l Juty2021 llnd 30June 2022 1,366,046 1,143,576 191,097 DEPRECIA TION Al l Juty2021 Chargc fi)r y¢aT 461,906 27,321 215,539 22,874 11.163 597 AI30 June 2022 489.227 238,413 11,750 NET BOOK VALUE AI 30 June 2022 878,819 905,163 179,347 AI30Jun¢ 2021 904.140 928,037 179.944 Fi%iures and fittin8S tsr vehicks Computer equipTnenl Totals COST At l Juty 2021 and 30 June 2022 13,600 88,962 3,181 2,806,462 DEPRECIATION Al l Juty2021 Charge for year 3,691 500 69.400 9,348 2,623 139 764,212 60,779 AI 30 June 2022 4,091 7B.748 2,762 824,991 NET BOOK VALUE AI 30 Jun¢ 2022 9,509 10,214 419 1,981,471 At30June 2021 10,009 19,562 558 2,042,250 Tn¢lud¢d in Eqvipm¢nt gnd fvrniture urc painltigs and works of£rt th&1 weTe gifled io the ch8Tty 2002. These ass¢ls gr¢ b¢ Irv¢d lo have Tesdua I values nol male rHlly different to the tarrying vahes and aTe theTefore noi cprecrdicd. Th¢5¢ a5s¢ts w¢r¢ indep¢nd¢rtty vakned ui M4Tch 2002 with 8 value of £168.000. The repkcement va¢ for uisurdn¢¢ purpose5 al Sepl¢rnber 2014 was pproXtety £296,000. AI 30 .lune 2022 Sm*hslone Hous¢ in Kilwinning Scotland, is dis¢k)$ed ai 8 carrying vabje of £273.047 in¢kJdtrg tsnprovcmeni c051s Of £264.54D. in ihe opinion of the ttuslees Ihi% has an approxitnaie Tnarktl value or £750,000. The market volue of 811 orhcr frcehopj property not ¢onsid¢r¢d 10 b¢ Jll&i¢ri#Jly drf¢renl from th¢ caTryin8 values. Pa8e 17 contled,..
Sacrèd Heart Fathe1¥ Trust Notes to the Flnanclal Ststèm8nts- contbnued for thè Year Ended 30 June 2022 FIXED ASSET INVESTMENTS UKquoled fixed iercsi Other inv¢stm¢nts Tots MARKET VALUE Ai l July2021 R¢vahaity)ns 6,880,338 1447,4641 27,069 17.3251 6,907,407 1454,7891 AI 30 June 2022 6,432,874 19.744 6,452,618 NET BOOK VALUE AI 30 June 2022 6,432,874 19.744 6,452,618 At30June 2021 6,880,338 27,069 6.907,407 There were llo knvestment 855¢ts oulsKl¢ th¢ UK Co$1 or vÉlu&li)n &130 Jun¢ 2022 i5 repT¢5entrd by.. UK quotsd flxed Interest other Ilstèd InveStmts Tolal? ValuatK)n 2021 V2luatK)n 2022 6,880,338 1447,4641 27,069 17,3251 ,907,407 1454,7691 6,432,874 19,744 6,4S2,618 13. INVESTMENT PROPERTY 30.06.19 30.06.18 AgrKukurDI land - Redbourne, Hertfordshre 50.000 50.000 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.22 30,6.21 Other debtOTS 71 71 Pagc 18 continued...
Sacrèd Heart Fathers Trust Notes to the Flnanclal Ststsm•nts . COnnUe forthe Year End8d 30 June 2022 15. CREDITORS.. AMOUNTS FALLING DUE wrrHIN ONE Y&4R 30.6.22 30.6.21 Other creditors 54.268 43.008 16. LEASING AGREEMENTS MniimuTn la85¢ payments under non-cancelknbk (kperatuig ka5es fall due 05 folk)ws.' 30.6.22 30.6.21 Wiihin one ye&r Behveen one and fve years 6,249 1.898 5,276 5.457 ,147 10.733 17. MOVEMENT IN FUNDS Nel movern¢Dt nds Transftrs beNveen runds Ai 1.7.21 30.6.22 Unre8trl¢ted funds GenerDI fijnd P¢n5Dn Augm¢nlatN)n tChor¢. Dubtin Promotions Si. Joseph's, Sio¢kport Smnhsione 14ouse Si. John's. Stockport Ardlea. Dublin PilgrvnaBe FuTrd 4,503.029 6.870.628 234,709 55.913 1447,4651 160,9671 11,724,189) 2.834,753 6.423,163 368,337 184,596 126,5721 110,072 65,618 11,278 23,409 17,430 197,8931 133.4411 6,OS9 102 19,1421 n,779 1,506,171 16,337 23,511 65,600 1,473,994 11,792,178 1581,2631 11,230,916 R¢strfcted funds Moldova fund Fr O Wynne Book Fynd 189,903 14,814 1,620 191,$23 14,814 204,717 1,620 206,337 TOTAL FUNDS 11,996,896 1669,6431 11,437,252 Page 19 continued...
Saer•d Heart Fathers Trust Ntste5 to the Flnanclal Ststomènts - ¢ontlnu¢d for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS. continued Nei rnovcm¢Dt in nds. included in the above ar¢ a5 folbws.. In¢omin8 reSoUe8 Res0r¢¢5 expend¢d Gain5 and losses Mov¢n¢ni fvnds Unre8trlcted funds Qencral fvnd Pcnston AugrnenlAtTon Inchi¢ore. Dublin Promoth)ns St. Joseph's, Siockport Sm*h51onc House St. John's, Sio¢kport Ardka, Dublin PiÈrThn8ge Fund 276.166 1211,9281 17,3251 1447,4641 55,913 1447,4661 160,9671 71.394 1132.3611 121 141,002 1105,5661 150,6551 166.S791 58,432 8,073 17,214 71,638 102 17,430 197,8931 133.4411 6,059 102 S02,019 1608,4931 1454,7891 1561,2631 Reslrlcted funds Mobjova fund 1,620 1.620 TOTAL FUNDS 503,639 1608,4931 1454,7891 1659,6431 ¢omparallve8 for mov•m•nt In fund8 Nel movement ui fi]nds TTansEr5 b¢tw¢e nds Ai 30.6.21 At 1.7.20 Unrestrlcted funds Genera I fund P¢nsK)n Augmeni8iK)n Inchicorc, Dublin PToilloiions SI. J05cph'5. Stockport Smithslone House Si. John'5, Stockport Ardl¢a. Dubl P ilgrThag¢ Fund 4.576,961 88.509 719.393 1162,4411 4.503,029 6,870,628 234,709 246.789 91.241 126.5721 110,072 65,618 78.127 47.757 8.451 23,407 15.255} 37,200 34,000 2,827 33,409 675,999 11,792,178 Rgstrtcted funds Moldova fvnd Fr O Wynn¢ Book Fund 187,608 14.814 2.295 189.903 202.422 2,295 204.717 TOTAL FUNDS 678,294 11,996,895 P8g¢ 20 continued...
Sacrod Hoart Fathers Tru$t Note8 to ¢he Flnanclal Statements . conllnu•d forthe Year Ended 30 Juno 2022 17. MOVEMENT IN FUNDS- contjnued Comparativ¢ n¢1 movement Ni fvnds, ClUded in the above 8T¢ a5 folk)w5'. tacom8 resources Resource$ expended Giins and k>55es Movement ni fvnds Unre$trlctod funds GBllcra I fund PensK>n AugrnenlatK)n Inchore. Dublin ProTnolitins Si. Joseph's, Stockport Smithstone Hous¢ Si. John's. Siockport Ardlca. Dublui Pilgrnrag¢ Fund 268.956 1184,248) 3.801 719,393 88,509 719.393 36.272 1139,593 } 121 (31 22,597 48,246 24,530 70.142 153,5011 140,6691 {67,3151 15,2551 2.827 470.744 1517,9391 723.194 675,999 Rg$trfctsd funds Mowova fund 2.344 149) 2.295 TOTAL FUNDS 473.088 1517.9881 723,194 678,294 A ¢UTreni year 12 months &nd prK)r yEor 12 Tnonth5 ¢ombin¢d pOsitn as folknw5.' Nel mov¢m¢ni Transfers b¢ty¥¢¢n fvnds Ai 30.6.22 At 1.7.20 Unr•strlct•d lunds Gencral fvnd PenSll AUgMenLiin Inchicorc, Dubl ProMotn$ St. Joseph's. Sto¢kport Smith51on¢ House St. John'5. Stockport Ardka. Dublin P IrThage Fund 4,576,961 6.151.235 246,789 10 116,5581 78.127 47.757 8,451 23,407 144.422 271.928 1164.2881 141 7.416 11,886.6301 2.834,753 6.423,163 358.337 275.836 19,142) 77,779 102,800 1,507.994 149.5801 7.886 104 16,337 14,736 Restrlctsd funds Moldova fvnd Fr O Wynne Book Fund 187.608 3.915 191.523 202.422 3.915 206.337 TOTAL FUNDS 11.437.252 Page 21 continued...
Sacred Heart Fathgrn Trust Nole$ to the FlnancSal Statemonts- eontlnued for the Year Ended 30 June 2022 17. MOVEMENT IN FUNDS. contlnued A £UTrent y¢ar 12 months and prijr ycar 12 months cornbin¢d net rnovemeni funds, in¢d¢d n) the above are as folbws.. IncomoJg resour¢e$ Resources expended Gains and bsses Movement fiJnd5 Unr8Strlcted fund8 Gencralfvnd PensK>n AugmenIattt InchOre. Dubl Promot$ Si. Joseph's. Stockport Smithslone Hous¢ St. John's, Stockport Ardka. Dublin P Irnage Fund 544,122 1396,1761 13.524) 271.929 144.422 271,921 1164,2881 107,666 {271,9541 81,029 56,319 41.744 141.780 104 7.416 1159,467) 191,3241 1133,8941 149.5801 7,886 104 972,763 11,126,432) 268,405 114.736 R•strictèd fund# Moldova fund 3,964 1491 3.915 TOTAL FUNDS 976,727 268.405 Transfews b8tsY8en fund8 Tran5ftrs betren the indivblual unrcstrKied des4gnaied fi]nds Hr¢ mad¢ al th¢ d¢re¢)n of the trustees. RELATED PARTY DISCLOSURES There were no Teliied p4rty tr8n5actN)ns for the year endcd 30 June 2022. 19. UNRESTRICTED FUNDS The general fijnd ttY be u5Ed at the di5¢rEtn of th¢ Irust¢es for the fvrtheranee ofihe charity's obFcINe5. 20. DESIGNATED FUNDS The charity operaie5 a separats desiqnaied fijnd for ea¢h ofth¢ communitrs and proF¢ts that it operates. Pon5ion Au menioiion Thc invcstmcTrl i8 held io gEnerate incotnllig resourc¢5 that contTbut¢ towaids thc financial support of reinEd p$¢$. In¢hi¢orc Dubli This fvnd iepresenis the iicom¢ and ¢xpenditure re loiing to th¢ house, whh proviJ¢5 r¢sid¢n for Students as vK11 ll5 relucd Pr515. rn01 The fijnd repre5ent5 the in¢om¢ and ¢xpenditur¢ that r¢t¢S to th¢ promolKn ofth¢ Gharity. The fund repr¢5ents the n)come and expendnure that rekntr5 to the r¢5id¢ni prK$L who works ni the parh, and r¢itred Pr515. Smithsione House The fijlld repTescnls the nicome and expBnditUTe rCL418 to Smithsion¢ House, whh operal¢S as a house of piayer. Si John'5 Stock ort Pake 22 conl1¢d...
Sa¢red Heart Fathers Twgt Notgs to the Flnanclal Statements- conflnued for th• Year Endgd 30 June 2022 20. DESIGNATED FUNDS. contlnugd The fijnd represen15 the in¢orne and expenditure tIlg to the house that ¢ lh¢ r¢s¢ee of the PTovMci&btc as well a5 0kt¢r prKsts and broiheTS. Th¢ fvnd pr¢sentS the income and exp¢nditur¢ thai reknies to the reS¢t pricst's who works in th¢ Pah. The fvnd r¢pr¢senls monies collected that were surpkls 10 expenditur¢ u)¢uTred on ptkrim28e trips th¢ charity op¢ral¢s.Th¢ d¢s¥naled fvnd will be used to support fiJiuTe pgrinEe costs. 21. RESTRICTED FUNDS Mopjova The n¢eme teceiyed u5¢d to 5UPPOrt mi5si)nary Ivork in Moldova. nlleBo kfvn Th¢ in¢ome r¢laies a gacY received towards th¢ prin¢in8 and promoiijn of books by Fr O Wynne, Pa8e 23