Charlty re9lstration number 220594 CONVENT OF THE SACRED HEART OF JESUS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2022
CONVENT OF THE SACRED HEART OF JESUS LEGAL AND ADMINISTRATIVE INFORMATION Trusteès Miss J M A Bear, Sister in Charga Miss A Edward8 Miss M C B Levasseur Charlty nymbèr 220594 Prlnclpal addr•8S Th8 Priory 85 Old High Street Headington OX3 9HT Registered offlce Convent ol th8 Sacred Heart Tha Priory 85 Old High Street Headington Oxford Ox3 9HT Indepgndent •xamlner Critchleys Audit LLP Beav8r House 23-38 Hyth8 Bridge Street Oxfvrd Ox1 2EP OX12EP HSBC Bank Ptc 108 London Road Hèadington Oxford Ox3 9AP Bankers Sollcmors Franklins SOltors Walton House 15 O¢k Str88t Abingdon OX145AN Invoslm•nt Manag¢rs Evetyn Partners 103 Colmore Row Birmingham B3 3AG
CONVENT OF THE SACRED HEART OF JESUS CONTENTS Page Trustees r8POrt statèment of TTUSt885 r8sponsibiliti8s Independent examlnerfs report Statement ol financi81 activities Balance sheet Notes to the finandal stal9rn8nts 8-15
CONVENT OF THE SACRED HEART OF JESUS TRUSTEES REPORT FOR THE YEAR ENDED 31 JUL Y 2022 The Trusleey prèsant their annu81 r8POrt and financial ststements forthe year ended 31 July 2022. The financial statements hav8 baen ppared in accordance with the accounting policles set out in note 1 to thé rinancial statements and comply with the Trust's deed. the Charities Act 2011 and 'Accounting and Reporting by Charities.. Stalernenl of Recommended Practi apPIable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclNe 1 January 20191. OblectlVg5 and actlvltles The charity's trust deed state5 that the trust's prin(ipal objectives arè the advanrsrnent of religious and other oharitable work being carried on by the Society as the trustees, with the approval of the Superior. shall from lime io time think fit. In fUlment of th8 objectives of the trust it is the policy of the charity to undertake 8 broad raroe of charitab activities. The principal areas in whid) the charity is involved are listed tlow.. Education Social and p8str)ral care Prowsion of worship The Trusl88s have paid du8 regard to guidancè Issued by ts Charity Commission In deciding what activitse8 th8 Trust should undertaka. Achlevements and performance During the yearthe Convent of the Sacred Heart was active in all the areas listed above, as explained below. Educalio One $ister was deputy head of a local catholic primary schod. She retired in 2010 and now 8¢ts as a governor and volunteer. Her State ond Teachers pen8lOng are covenantgd to the charity. Social andp8Storal care The sist8r in England continuès to help tn a widè range of actiwties in a local parigh. In addtyon, moms at the Priory are made available on a non-profit rnaking basis to various outside organisats"ons. mainly other Charit18s, who pmide counselling and remedial services to the general public. The Priory is al80 wlling to host meeungs and discussion group5 organised by other religious group5 and local n8uhbourhood organisations. PmvisAOrt of worship The sisters ensure that the Chapel is 8vai18blè to be used for worship by both Roman C8tholics and groups from other lailhs. Student 8ecommodation Providing accommodation to tenants mainly students attending various coll8gas In Oxford. thi5 rent is treated as income to the charity. In addition to these siudents who pay r8llt to the Convent of the Saerèd Heart, accommodation is also provided Iree ol charge to ft>reign priests who have been s8nt by their dioc8se, university, or superiors to study in Oxford.
CONVENT OF THE SACRED HEART OF JESUS TRUSTEES REPORT {CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Frnanelthl revlew The Statement ol Financial Activitie5 shows Incomin9 resources 4n(xeased by £26,438. Resources expendad this year dacreased by £4.547. At 31 st July 2022 the total fund5 of the Conv8nt of the sacr Heart W8re £4.8m. Of thls £4.7m represents fixed assets needed for the work of the charity. The convent has a discretionary investment managemènt agement with Evelyn Partners Ipr8viously called Smth & Williamsonl. The trustees rneet with the fund rnanagers once a year and ensure trat thè fund is managed in accordance with their written guidelines and with the religious and ethical prinaples of the order. which follow those of the Archdiocese ol Birmingham. In addition, tho trustees havè a Statement of Investment PrincitAes. The major risks to which the charity is exrKJsed. as id8ntified by the trustees, havè been vIewd and systems have been èstabllshed to mitvJate thos8 risks. The trustees h8v& reviewed th* reserves of the charity. As explained above. resews of the Convent ol the Sacred Heart were £4.8m. Of this, £4.7m reprèsents fixed &88èts needed for the work of the chaitty. The balance of reserv8s is Intended to provlde for the ongoing irnprovement of the convent buildings and thè support of the older memb8rs of the order so as to b8 able to continu6 the chaiitsblè work of th8 convent as membership ages and reduces in numbers. 11 is the policy of the Trugt that unrestricted funds which have not been designated for a Speelflc u8e should be maintained at a level equivalent lo between three 8nd six month's expenditvrg. The Trustees consider that reserves at this level will ensure that, in the event of a signlficant drop in funding, they will be ale to continue the Trust's uryent activities while consideratn is gNen to ways in which additional funds may b8 raised. This 18v81 of reserve8 has been maintained thTougFK)ui the year. The Truslees have assessed the major risks to whieh the Trust is exposed, and are $8ti5fied that systems afe in p18C8 to mitigate exposure to the major risks. Plans for future perlods The Congregation now only has a few members, all of %thom have given their w01ng lives to the charitable activits85 of the Congregation. The number of new vocations to ihe order is deGlining and th8r8fore the averd9e age ol the membership of the Congregation Is increasing. The charity has a continuing commitment to 5UPPOrt membèrs, many of whom continue to carry out charitable work long past the nomal tireMant age. Structure, govèrnance and managemgnt The convent of the Sacred Heart of Jesus is th8 Engllsh house of the Congr8gation of the Sacred Heart IStAubinl. A Charitable Trust was cr88tÈd to hold 8nd own the ass8ts ol the English house. This trust is govemed by 8 Trust Deed dat8d 28 Novernbèr 1962, omended by a Scheme dated 20 Juty 2000, and is registered with the Charity Commission, Charity Reglstration No. 220594 The charity now has three trustees. all of whom are membars of order of Ihe Sacred Heart 1st Aubinl. The charity Is administ8réd by the Si5tar in charg8 of the Priory, who is a trust8e land who rÈports to th8 Superior General of the orderl,. she is as5i5ted in this task by the rernaining two other trustees. Th8 power of apw)inting new trustees rests with the Superior Genal of th8 order. The trustees have a St8temen( of Invastrnenl Principl$s, in addition they wew annually tha Reseryes of the charity and cary out 8 RiskAssessm8nt. The Trustees who served during the year and up to th8 date of 8ignature of the financial slat8rnents W.. Miss J M A Bear. Sister in Charge Miss A Edwards Miss M C B Levassèur
CONVENT OF THE SACRED HEART OF JESUS TRUSTEE8 REPOIU (CONTINUEO) FOR THE YEAR ENDED 31 JULY 2022 Huw our •erylw b•n•fftth? publ1¢ The charlty Is 8blè to benefft ihe putAlc by me8n5 01 Ihe ways in whith its premises are used. In addlb'on to ihe provision of sale 8nd affordatlo accommodation for sludents attendlng college8 In Oxford and to prig9ts. Yellgious or secular, from over8eas it al80 opens th8 Priory premises for OrShIp. Furthomiore. Th8 prfory make8 rts)m8 8v8118ble for 8 numbw of organls8Uons and Indlviduals to hold meeting5 and di8cussion groups. In add9. 8 local church and Cothollc Scool use the convgnt grounds on 8 regular bAsls for thlldmn actMO6s. Tr• TnJstses havè had ragard to the Charity Commls4on'¥ ldance on wbllc benefiL Tho Tru9tees repvtwaa 8Fpn>v8d by Ihè Bc4rd ofTrustee8. Miss J MA 8•ar, Sk8ter in Charg& 16th Janu8.ry. 2022
CONVENT OF THE SACRED HEART OF JESUS STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 JULY 2022 The Trustees are rèSrX)nslb for preparirKJ the Truste8s Report and the financial staternenl$ in aordan wilh applicable law and United Kingdom Accounting Standards (United Kingdom GerallY Accepted Ac¢(yJnting Practicel. Th8 law applicable to charities in England and Wales requires th8 Trustees to prepare financial statements for each financial year which giv8 a true and fair vi8w ol the state ol affairs of the Trust and of the incoming resourcgs and application of resourcès of the Trust for that year. In preparing these financial ststem8nts, the Tru8te88 8r8 required to.. $918ci suitable accounting policies and then apply them con&stgnlly', observe the m8thods and principles in the Charities SORP., make judg8ments and estimates that are reasonable and prudent.. state whelh8r applicable accounts'ng stsndards have been fdlowed, subject to any material departure$ disclosed and explained in the financial st8t8ments", and prepare the financial statements on th8 going concem basis unlèss It Is inappropriate to presum8 that the charity wlll contrnue in opgration. The TrLJStees are respon8ib18 for keeping suffici8nt accounting records that disclose wth reasonable accuracy at any tim8 the financial position ol the Trust and enable them to ensure that the financial slatemenis comply with th8 Charities Act 2011, thè Chadty (Awounts and Reports} Regulations 2008 and the provisions ol the trust deed. They are also responsible for safeguarding the assets of the Tnjst and hen for taking raasonable steps lor the prevention and detection of fraud and other irregularities.
CONVENT OF THE SACRED HEART OF JESUS CRITCHLEYS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CONVENT OF THE SACRED HEART OF JESUS I report to the Trusteas on my examination of the financi815tatements of Convent of the Sacred Heart ol Jesus1th6 Trusll for the year ended 31 July 2022. R05ponslbllltles and basis of report As the Trustees ol the Trusl you are responsible for the preparalhjn of thè flnancial st8t8mènls in accordance with the requirsments of the Charities Act 2011 Ilhe 2011 Actl. I report in respect of my examination of the Trust's financi81 statements carried out under secbon 145 of the 2011 Act. In carrying out my èxamination I have followed all the applicable Directions given by lh8 Charity Commission under tIOn 14515Xbl of the 2011 Act. Indepgndent #xamlner's statement I have completed my examination. I confim that no matters have come to my atlention in connection with th8 examination gwirKJ me cause to b81i8Vè that in any rn8lerial respect.. accounting records were not kept in respect of thg Trust as reqUId by 58ction 130 of the 2011 Art or the financial statements do not accord with those records.. or the financial statements do not comply with lh8 appllcable reqtJir8ments concerning the fomi and content of accounts set oul in th8 Charities IAw)unts and Reports) Regulations 2008 o¢h8r than any requirern8nt that the accounts give a true and lair view which is not a matter oonsid6red as part of an independent 8X8mination. I have no concerns and have come across no other matters In connection the examination to which attention should be drawn in thi8 report in order to enable a proper undersianding of the financial Statements to be reaehed. Gary Pready FCA Gritchleys Audit LLP Beaver House 23-38 Hythe Bridge Str¥gt Oxford OX12EP 17.01.2023 Dat8d..
CONVENT OF THE SACRED HEART OF JESUS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JUL Y 2022 Unr•strlcted Unrestrlcted fundg funds 2022 2021 Note¥ como from: Donations and lega*S other trading activities Investmènts 38.71 69,338 58,268 45,372 58,672 35.830 Total Income 166,312 139,874 Ex en bture on.. Raising funds 9,169 8,115 Charitable actiwts88 128,784 134,385 Total exp8ndlbJre 137,953 142.500 Nel gainslllossesl on inv85trnents 10 179,0341 257,140 Net movemènt In funds 150.6751 254.514 Fund balances at 1 August 2021 4,852,784 4.598,270 Fund balancès at 31 July 2022 4,802.109 4.852.764 The statement of linancial activities Includ8S 811 galns and losses recogni$8d in the year. All income and expenditure derive from conttnuing acti"&S.
CONVENT OF THE SACRED HEART OF JESUS BALANCE SHEEr AS AT 31 JULY2022 2022 Tanglble assets Inv•stsn8ni properti Inv•strn8nts li 12 13 2,151.200 1.030.(JOO 1,&fj7,628 2,189.eOD 1,030.000 1.582.843 4.n8,828 4,802h43 Cwrnnt as8•ts CaBh $1 bank and in hand 70,841 55.99t Credltwj: thmounts lalllng dug *4th1n on•ygar 14 (7,5601 (5,650) Net Jrr a88•ts 63,281 50,341 . Total AM•t•1•98 cun•nt Ilablllll 4,802,109 4.852.784 Incom•fund8 Unregtrfctsd fid8 4.802.10 4.852.784 4.802.109 4.852,784 The finondd stalements re apprwed by th• Tmstees on ... IL.: o.l.....10 13 Mlss J MAB•ar, Sistsr In Char
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 Accounting pollcles Charlty Infomiatlon Convent of the Sacred Heart of Jesus is a charity registered in England and Wales, United Kingdom. The addsS of the registered office is given in thè charily infomiation on th8 first page of these financial statemonts. 1.1 Accountlng convontlon The financlal staterngnts have been prepared in accortrdnce wth the Tru8Vs deed, th8 Charitles Act 2011. FRS 102 "The Financial Reporting Standard applicable ill the UK and Republic of Ireland. l FRS 1021 and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommended Practice 8ppllcable to charities preparing their accoLJnt5 in accordance with the Financial Reporting Stsndard ap1¢able in the UK and Republic ol Ireland IFRS 1021 leffectlvg 1 January 20191. The Trust is a Public Benefit Ents"ty as defined by FRS 102. The Trust has taken advantag8 of th& provision5 in the SORP for charities not to prépare a Statemènt of Cash Flows. Th8 financial stslernents a prepar8d in sterfing, which Is the function81 eurrency ol th8 Trust Mon8tsry amounts in Ihese financial statem8nls are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to indude the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern The financial statements have prepared on a golng ooncgm basis as the trustes believe that no material uneertainties exist. Th8 trustees have consided lh8 level of funds h81d and the 8XP8eted level of incom8 and expenditure for 12 months from authorising these financial s¢aternents. The budgeled incorne and expenditu is stjffiuent W4th the level of rèsarves for th8 charily to be able to continue as a going concern. 1.3 Charitable funds Unrestri¢t8d funds are availab18 for use at the discrètlon of the twstaè In further8nc8 of the general objectives of thg eharfty which have not been designated lor other PUfP05es. 1.4 Income All incoming resources are included in the Stalemant of Financial Actiwties ISOFAI when the charity is legally entit18d to the Income aft8r any performance conditions have been met. the amount can be measUd reliably and rfL is probably th the ineome wll b8 T8cèed. Oonations For donations to b8 vècognised the charity will have bew notified of the amounts and the settlernent date In writing. If th8r8 ar8 conditions attached to the donation and this r6qulres a level of pertomiance before enb'tlem8nt can be obtained then income is dèferred until those conditions 8r8 fully met or thè fUlment of those conditions is within the control of th8 charity and it is probable that they will be fulfilled. Tradlng Acllvltlgs Income frorn trading activities includes Income eamad from fundr8i&ng events and trading activities such as student rentals to raise funds for the charity. Income is receiv8d in exchange for Supying goods 8nd services in ord8r to raise funds and 15 recognised when entitlement has occurred.
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 Accountlng pollclos {Contlnuedl Investment Income Inv98tment income is earnad through holding assets for investment pury)oses such as Sha$ and prOrtY. It includes dividends, interest. and r8r)t. Where it is not practicable to identify investrnent man8g8rnent costs incurred within a scheme with reasonable accur8Cy the investment income is pOrted net of these Costs. It is included wh8n the anY)unt can be measured reliably. Interest income is recogni58d using the effective interest method and divldend and rent income is recognisad as the charity's right (o receive payment is established. 1.5 Expenditure All exp8nditure is attounted for on an accruals basis and has been d8ssth8d under h8adings that aggregate all costs related to the category. Expanditure is recognised where there is a legal or consttuctiv8 obligation to make payments to third parties, it is probably that the setuemènl will be required, and the amount of the obligation can be measurgd rèl13y.1( is categorised under the following headings.. 0St of ralslng fund¥ This includes all expenditure incurred by the charity to raise funds for its tharitsble purp088s and include3 costs of all fundraising activities, events, and non-charitable trading. Exp•ndlture of charitable actl¥lti8s These are th8 Costs InCUrd oll the charil8ble 8CtNities, including support costs and costs rdatlng to the govemance ol the charity apporboned to charitable activibes. Irr8coverable VAT is charged as an 8xpense against the activity for bthiej) expenditur8 arose. Support cost allocatlon Supptrrt costs are those that assist the work of the d)arily but do not direcuy represent charitabl8 actfvities and includ8 officè and govemanc8 costs. They are incurred dir8Ctty in support of expenditure on the objects of the charity. All support cosi¥ are directly altributable. 1.6 Tanglblo fixed assets AsS8ts costing £1,000 or more are capitalised as tangible fixed asgets and ars cathed at u)s( net of dePCIatIOn and any provision for impairment. C08t indudes ¢05t5 directly attributable to makirw the asset capable of oparadng as intgnd8d. Depreciation is recognised so as to wrSie off the cost or valuation of assets 1959 thdr residu81 v8lu&s over thgir useful I*v85 on the following bases". Freehold buildings Motor vehicles 50 years 5 years A r8view lor impaimiént ol a fixed asset is carried out if events or changes in circumstances Indicate that the carrylng value of any fixed asset may not be recoverable. Shorttalls belween the carrying valu8 of fixed assets and their recoverable amounts are recogni58d as impairm8nts. Impairm8nt losses are recognised in ihe Statement of Financial Activities. 1.7 Investment propgrt18s Investm8nt properties ar8 hèld at deemed cost on Irdnsition to FRS102, bdng the markat value at th8 last valuation date. 1.8 FIx8d asset In¥tMentS Investrn8nts are recogni5ed initiJly at fair value which 15 nomially th8 transaction pr excluding transaction costs. Subsequently, they are measured at fair value wlth ¢hang85 recognised in "net gains I Ilossesl on Investment5, in the SOFA if the shares are publlY trad8d or thelr fair valuè can otherwise b8 measured reliably. Oiher investments are measured at cost le85 impaimient
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 A¢counting pollcles {Continuedl 1.9 Impalrment of flxèd assèts Assets not measured al lair value are reviewed for any irKlscation that the asset may te impaired al ga¢h balance sheet date. If such indication exists, the recoverable amount of thè asset, or th8 asset's cash generating unit, is estimated and compared to the carrying amount. whe the carying amount exceed5 Its recoverable amount, an impairment loss is recognised in profit OT105s unless the assat is carried al a revalued amount where the impairment loss is a revaluatK)n. 1.10 Flnancial instruments Debtors and creditors with no stated interest rate and recewable or payable within one year ar8 recorded at transaction price. Any losses arisiry from impairment ar8 recognised in expenditu. 1.11 Provlsion8 Provision5 are recognised when th8 charity has an obligation al the balance sheet dat8 as a result of a past event. 1¢ 15 probable Ihat an outflow of economic benelits wll be quired in setuement and the amount can I reliabty estimated. Critlcal ?OUntIng estlmates and judgèmentg In the app1catIOn ol the TrLt5t's accounting policies, the Trustees 8Te qUIred lo make ludgements, estimates 8nd assumptions about tha earying amount of assets and liabilities that are not readily app8rent from other sources. The e$tirnat8s and associated assumptions are based on historical 8XP8ri8nce and other factors that are congdered to be relevant. Actual results may diff8r Irom these estim8te5. The estimates and und8rfying assumption$ are remewed on an ongoing basis. Revisions to aceounting 8sllmates a recognised in the period in which the estirnate is revised where the revision alfects only ihal period. or in th8 p8ri0d of the revision and lulure periods where the revision affects both current and future periods. Oonatlons and 1ggacl•s Unrestrictèd Unrestricted funds funds 2022 2021 Donations and gifts 38,706 45,372 (Xher trading actlvltleg Unrestrlcièd Unrestric fund5 funds 2022 2021 Student rents 69,338 58,672 10-
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 In¥•stm•nts Unrestrlct¢d Unrestriclgd funds funds 2022 2021 Rental income Income from listed inv8Stments Inlerest receivable 26,908 31,326 34 20,907 14,916 58,268 35,830 Ralslng funds Unrestrlct•d Unrestricted funds funds 2022 2021 Investment management 9,169 8,115 9,189 8,115 Charitabl• actlvlties Total 2022 Total 2021 Sisters, Living Costs Chapèl Costs Grfts & Don8tions Housekeeping costs Community Costs 2.785 573 2.242 6,142 40,000 2.868 407 2,398 6,349 40,102 51.742 52.124 Share of support costs (see note 81 Share of governanc8 costs Isee note 81 71,342 5,700 76,611 5.650 128,784 134,385 l expenditure on charitable expenditure in both 2021 and 2022 was unrestriotad.
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y2022 Support costs Support Governance costs costs 2022 Support Governance costs C06ts 2021 Deprecjation Building Maintenance Rates, Water, & Insurdnce Travd Expenses Telgphono Heating & Lightlng Sundry 38,400 14.731 38,4CM) 14,731 39,361 25,216 39,361 25,216 2,258 1,876 1,434 8,509 4.134 2,258 1,876 1,434 8,509 4,134 2.115 1,523 1,642 4.195 2,559 2.115 1,523 1,642 4,195 2,559 IE fees 5,700 5,700 5.650 5,650 71,342 5,700 77,042 76,611 5.650 82,261 Analysed betwe&n Charitable act¢vities 71,342 5,7(M) 77,042 76,611 5,650 82.261 Goveman costs includes payments to the independent axaminers of £5.70012021- £5,650) for IE fees. Trustees As a mernbtsr ol the order, one trustee's living expenses duTing the year w8rè bome by th8 charity but the trustees received no remuneration or othèr benefits in connection wth their duties as tnJ5tees duriro thè year. The key management personnel of the charity comprfses the tnjstaès. The total 8rnount of empltyee benefits lexcluding the above) r8C8ived by key management personnel lor their servicès to the charity was £nil12021.. The trustees did not have any expenses reimburséd during the yèar12021.' £Nill 10 Ngt gainsl{l¢)ssesl on inv•stments Unrostrlctod Unrestricted funds funds 2022 2021 Revaluation ol investments 179,0341 257.140 12-
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 11 Tangible fixed assets Freehold Motor vehlcles bulldlngs Total Cost At 1 August 2021 2,420,(X)o 9,295 2,429,295 At 31 July 2022 2,420,(K)O 9,295 2,429,295 Dèpreclatlon and Impalrment At 1 August 2021 Depreciation charyed in the year 230,400 38,400 9,295 239.695 38.4(M) At 31 July 2022 268,800 9,295 278,095 Carrying amount At 31 July 2022 2,151,200 2,151,200 At 31 July 2021 2,189,600 2,189,600 Included in land and buildiThJs Ss land al a value of £500,1M)0 {2020'. £5CK),0001 which is not depreciated. Freehohl land and buildings includ8d above are r8ctynised at deemed cost on transltion to FRS102. The58 assets wer8 last valued at 31 July 2013 by Mr N Morgan Msc FRICS. The historic cost equNalent of these assets is £59,572 in 1972. The historic cost for freehold land and bulld1t$ is not known. 12 Investment property 2022 Falr value At 1 August 2021 and 31 July 2022 1,030,000 No figure for the cost of th8 inveslment propertles is available. The value at vthich it was first COgnised on Ihe accounts was £45.000 in 1993. This was subs8quently revalued to £640,000 in July 2013 and £1.030.000 In August 2018. The valuation was undertaken by Mr N Morgan Msc FRICS on behalf of LaThJtons. 2022 2021 Freehold 1,030,000 1.030,CX)O 13-
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2022 13 Flxed ass¢t Invostmonts Listed Inv•stments Cash In portfollo Total Cost or valuatlon At 1 August 2021 Additions Valuation changes Dividends. Interest, and fees Transferg Disposals 1,545.571 202,696 179.0341 37,272 1202,6961 1,582,843 179,0341 22,173 31,646 22,173 31,646 142,294 1142,2941 A131 July 2022 1,526,939 30,689 1,557.628 Carrying amount Al 31 July 2022 1,526.939 30.689 1,557,628 At 31 July 2021 1.545,571 37,272 1.582,843 2012 2021 Inveslrnents at fabr value comprisè.. Equitiès Securities Cash within investrnent portfolio 1,344.557 182.382 30.689 1.326,609 218,962 37,272 1,557.628 1.582.843 The fair value of listed investments Is determined by referencè to the quoted price lor identical assets in an active rnathet at the balanca sheet date. 14-
CONVENT OF THE SACRED HEART OF JESUS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2022 14 Credltor8'. amounts falllng du8 wlthln one year 2022 2021 Accruals and def8rred income 7.560 5,650 15 Analysls of net assèts between funds Unr•strfctgd Unrestricted funds funds 2022 2021 Fund balances at 31 July 2022 are rgprasènted by.. Tangible assets Investment prO[rtIeS Investments Current as5ets/lliabilitiesl 2,151,200 1.030,000 1.557,628 63,281 2,189,6CX) 1,030,0(X) 1,582.843 $0,341 4,802,109 4,852,784 16 Related party transactlons Thère We no disclosablè relaied party transactions durirg the year12021 none).