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|||||Page|
|---|---|---|---|---|
|Reference and administrative||details ofthe Charity,|its Trustees and advisers||
|Trustees'<br>report||||2-7|
|Independent<br>auditor's|report|on the financial statements||8-11|
|Statement offinancial|activities|||12|
|Balance sheet||||13|
|Statement<br>ofcash flows||||14|
|Notes to the financial|statements|||15-35|





|Trustees|||Rev P Hughes,|Chair||
|---|---|---|---|---|---|
||||Rev D Carter|||
||||Rev D O' Malley|||
||||Rev P BSayles|||
|Charity registered||||||
|numbers|||221594 and SC038948|||
|Principal|office||Widney<br>Manor Road|||
||||Knowle|||
||||West Midlands|||
||||B939AB|||
|Independent||auditor|Dains LLP|||
||||15Colmore<br>Row|||
||||Birmingham|||
||||B32BH|||
|Bankers|||NatWest|||
||||24 Broadgate|||
||||Coventry|||
||||West Midlands|||
||||CV1 INE|||
||||Santander|||
||||Customer Service Centre|||
||||Bootle|||
||||Merseyside|||
||||L304GB|||
||||Allied<br>Irish Bank|(AIB)||
||||61 Temple Row|||
||||Birmingham|||
||||B25LT|||
|Solicitors|||Standley<br>8 Co|||
||||1612High Street|||
||||Knowle|||
||||Solihull|||
||||B93OJU|||
|Investment||Managers|Premier Asset Management||Pic|
||||Eastgate Court|||
||||High Street|||
||||Guildford|||
||||Surrey|||
||||GU1 3DE|||
||||Brewin Dolphin|||
||||9Colmore Row|||
||||Birmingham|||
||||B32BJ|||





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|||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|---|
|||||funds|funds|funds|funds|
||||Note|2021<br>F|2021<br>E|2021|2020f|
|Income from:||||||||
|Donations<br>and legacies||||2,900,689|307,214|3,207,903|3,325,087|
|Investments|||5|99,554||99,554|142,312|
|Other income|||6|2,835||2,835|6,693|
|Total income||||3,003,078|307,214|3,310,292|3,474,092|
|Expenditure<br>on:||||||||
|Raising funds<br>Charitable<br>activities|||7|225,715<br>2,745,223|310,293|225,715<br>3,055,516|254,996<br>2,377,063|
|Total expenditure||||2,970,938|310,293|3,281,231|2,632,059|
|Net income/(expenditure)||before||32,140|(3,079)|29,061|842,033|
|investments||||||||
|Net gains/(losses)|on investments|||562,871||562,871|(187,611)|
|Net movement<br>in|funds before other|||||||
|recognised<br>gains||||595,011|(3,079)|591,932|654,422|
|Other recognised|gains:|||||||
|Foreign exchange|gains/(losses)|||143,201||143,201||
|Net movement<br>in|funds|||738,212|(3,079)|735,133|654,422|
|Reconciliation<br>of|funds:|||||||
|Total funds<br>brought|forward||19|17,294,480|1,558,868|18,853,348|18,198,926|
|Net movement<br>in funds||||738,212|(3,079)|735,133|654,422|
||||19|18,032,692|1,555,789|19,588,481|18,853,348|
|Total funds carried forward||||||||





## 

## 

|||||2021||2020|
|---|---|---|---|---|---|---|
|||Note|||||
|Fixed assets|||||||
|Tangible assets||14||6,280,450||5,398,408|
|Investments||15||4,296,296||3,737,100|
|||||9,676,746||9,135,508|
|Current assets|||||||
|Debtors||16|1,352,786||1,006,714||
|Investments||17|2,699,117||2,591,025||
|Cash at bank and in|hand||8,798,966||7,966,435||
||||12,760,867||11,564,174||
|Creditors: amounts|falling due within one||||||
|year||18|(2,738,131)||tI1,846,334)||
|Net current assets||||10,012,738||9,717,840|
|Total net assets||||19,688,481||18,853,348|
|Charity funds|||||||
|Restricted<br>funds||19||1,655,789||1,558,868|
|Unrestricted<br>funds||19||18,032,692||17,294,480|
|Total funds||||19,588,4S1||18,853,348|





|||||||2021|2020|
|---|---|---|---|---|---|---|---|
||||||Note|F|E|
|Cash flows from operating||activities||||||
|Net cash|used<br>in operating|activities|||22|748,321|664,542|
|Cash flows from financing||activities||||||
|Interests|and dividends<br>from investments|||||99,554|142,312|
|Proceeds|from the sale oftangible<br>fixed||assets|||5,950|800|
|Purchase|of tangible<br>fixed assets|||||(17,880)|(67,401)|
|Proceeds|from sale of investments|||||682,320|676,624|
|Purchase|of investments|||||(582,997)|(622,509)|
|Net cash|provided<br>by financing<br>activities|||||186,947|129,826|
|Change|in cash and cash|equivalents|in|the year||935,268|794,368|
|Cash and|cash equivalents|at the beginning||ofthe year||8,040,150|7,245,782|
|Cash and cash equivalents||at the end|of|the year|23|8,975,418|8,040,150|





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|||Unrestricted|Restricted|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021|2021|2021|
||||F|F|
|Donations||1,533,287||1,533,287|
|Legacies||1,339,185||1,339,185|
|Gifts including|gift aid||284,719|284,719|
|Mass intentions|||22,495|22,495|
|Government|grants|28,217||28,217|
|||2,900,689|307,214|3,207,903|
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|||2020|2020|2020|
|||F|F||
|Donations||1,127,384||1,127,384|
|Legacies||1,932,868||1,932,868|
|Gifts including|gift aid||242,823|242,823|
|Mass intentions|||21,275|21,275|
|Government|grants|737||737|
|||3,060,989|264,098|3,325,087|



## 

||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2021|2021|2020|
||||F|||
|Interest and dividends|generated|by portfolios|94,418|94,418|106,190|
|Bank interest received|||5,136|5,136|36,122|
||||99,554|99,554|142,312|





## 

## 

## 

|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2021<br>F|2021f|2020|
|Other|income|2,835|2,835|5,893|



## 

## 

|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2021|2021|2020|
|||||P|F|F|
|"Far East"|magazine|production||135,324|135,324|180,165|
|Support costs|||||||
|||||Unrestricted|Total|Total|
|||||funds|funds|funds|
|||||2021|2021|2020|
|||||E|||
|Website media||||62,413|62,413|48,097|
|Investment|management||fees|25,212|25,212|25,686|
|Legal fees||||2,766|2,766|1,048|
|||||90,391|90,391|74,831|





## 

## 

||||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|---|---|
||||||funds|funds|funds|
||||||2021|2021|2021|
||||||E|E||
|Furtherance|ofthe|objects|ofthe|charity|2,745,223|310,293|3,055,516|
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2020|2020|2020|
||||||F|E||
|Furtherance|ofthe|objects|ofthe|charity|2,084,870|292,193|2,377,063|



## 

||||||Activities|Grant|||
|---|---|---|---|---|---|---|---|---|
||||||undertaken|funding<br>of|Support|Total|
||||||directly|activities|costs|funds|
||||||2021|2021|2021|2021|
||||||E|F||F|
|Furtherance|ofthe|objects|ofthe|charity|2,237,938|1,698|815,880|3,055,516|
||||||Activities|Grant|||
||||||undertaken|funding<br>of|Support|Total|
||||||directly|activities|costs|funds|
||||||2020|2020|2020|2020|
|||||||F||E|
|Furtherance|ofthe|objects|ofthe|charity|1,609,564|6,045|761,454|2,377,063|





## 

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## 

## 

||||Total|Total|
|---|---|---|---|---|
||||funds|funds|
||||2021|2020|
|Amounts|remitted|to the central fund ofthe order for|||
|distribution<br>to the||missions|1,737,684|1,127,904|
|Priests'|allowances||63,208|66,887|
|House expenses|||162,636|159,200|
|Mass intentions|||10,900|12,750|
|Gifts|||263,510|242,823|
||||2,237,938|1,609,564|



## 

|||Total|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2020|
|||F|E|
|Staff costs||432,195|401,830|
|Depreciation||119,593|122,122|
|Office expenses||196,036|165,829|
|Motor vehicles and travelling||29,931|34,266|
|Professional|fees 8 charges|10,225|22,059|
|Governance||17,606|15,348|
|Loss on disposal offixed assets||10,294||
|||815,880|761,454|





## 

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## 

||||||||Total|
|---|---|---|---|---|---|---|---|
|||||||Grants paid|funds|
|||||||2021|2021|
|||||||f.|E|
||Contributions|to Catholic||institutions||1,698|1,698|
||||||||Total|
|||||||Grants paid|funds|
|||||||2020|2020|
|||||||E|E|
||Contributions|to Catholic||institutions||6,045|6,045|
|11.|Net movement<br>in funds|||||||
||This is stated|after charging:||||||
|||||||2021|2020|
||Depreciation|of tangible||fixed assets||119,593|122,122|
||(Loss)/surplus|on disposal of fixed|||assets|(10,294)|800|
||Auditor's<br>remuneration||-|audit||11,950|11,650|
||Auditor's<br>remuneration||-|non-audit|services|1,120|604|
||Operating<br>lease rentals|||||7,559|9,870|
||Foreign exchange gains/(losses)|||||143,201||





## 

## 

|Staff costs|||
|---|---|---|
||2021|2020|
|||f.|
|Wages and salaries|346,254|362,966|
|Social security|31,684|23,353|
|Pension costs|54,257|15,511|
||432,195|401,830|



||||2021|2020|
|---|---|---|---|---|
||||No.|No.|
|Administration|and|Support|17|18|



## 



## 

## 

||||Furniture,||
|---|---|---|---|---|
||Freehold|Motor|fixtures and||
||property|vehicles|fittings|Total|
|||f.|f.||
|Cost|||||
|At 1 April 2020|6,712,211|106,195|164,492|6,982,898|
|Additions|||17,880|17,880|
|Disposals||(9,990)|(14,777)|(24,767)|
|At 31 March 2021|6,712,211|96,205|167,595|6,976,011|
|Depreciation|||||
|At 1 April 2020|1,379,013|78,237|127,240|1,584,490|
|Charge for the year|107,324|6,990|5,279|119,593|
|On disposals||(5,775)|(2,747)|(8,522)|
|At 31 March 2021|1,486,337|79,452|129,772|1,695,561|
|Net book value|||||
|At 31 March 2021|5,225,874|16,753|37,823|5,280,450|
|At 31 March 2020|5,333,198|27,958|37,252|5,398,408|





## 

## 

## 

|||Listed|Cash|trading||
|---|---|---|---|---|---|
|||investments||account|Total|
|||||E||
|Cost or valuation||||||
|At 1 April 2020||3,667,354||69,746|3,737,100|
|Additions||577,048|(577,048)|||
|Disposals||(647„274)||682,320|35,046|
|Revaluations||522,845|||522,845|
|Income net offees and amounts|remitted|||304|304|
|At 31 March 2021||4,119,973||175,322|4,295,295|



## 

|Debtors||||
|---|---|---|---|
|||2021|2020|
|||E|F|
|Legacies due||1,016,941|496,316|
|Due from other regions||84,852|319,548|
|Other debtors||214,322|153,970|
|Prepayments|and accrued income|36,670|36,880|
|||1,352,785|1,006,714|





## 

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## 

## 

|2021|2020|
|---|---|
||E|
|2,599,117|2,591,025|



## 

||2021|2020|
|---|---|---|
|Due to other regions|2,720,786|1,816,023|
|Other taxation and social security||6,112|
|Other creditors|4,269|4,231|
|Accruals|13,076|19,968|
||2,738,131|1,846,334|





## 

## 

## 

||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at 1|||Transfers|Gains/|31 March|
|||April 2020|Income|Expenditure|in/(out)|(Losses)|2021|
|||f.||E|f.|||
|Unrestricted||||||||
|funds||||||||
|Designated||||||||
|funds||||||||
|Fixed asset||||||||
|fund||3,868,212||(83,710)|1,635||3,786,137|
|Retirement||||||||
|house fund||8,110,258||(169,332)|||7,940,926|
|Overseas||||||||
|missions||2,262,130||(1,737,684)|1,475,554||2,000,000|
|||14,240,600||(1,990,726)|1,477,189||13,727,063|
|General|funds|||||||
|General|funds|3,053,880|2,992,784|(969,918)|(1,477,189)|706,072|4,305,629|
|Total||||||||
|Unrestricted||||||||
|funds||17,294,480|2,992,784|(2,960,644)||706,072|18,032,692|
|Restricted||||||||
|funds||||||||
|Gifts|||284,719|(263,510)|||21,209|
|Mass intentions||28,672|22,495|(10,900)|||40,267|
|Property|fund|1,530,196||(35,883)|||1,494,313|
|||1,558,868|307,214|(310,293)|||1,555,789|
|Total of|funds|18,853,348|3,299,998|(3,270,937)||706,072|19„588,481|





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## 



## 

## 

|Statement offu|nds - prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2019|Income|Expenditure|in/(out)|(Losses)|2020|
||||E||F|E|
|Unrestricted|||||||
|funds|||||||
|Designated|||||||
|funds|||||||
|Fixed asset|||||||
|fund|3,887,050||(86,239)|67,401||3,868,212|
|Retirement|||||||
|house fund|8,279,712||(169,454)|||8,110,258|
|Overseas|||||||
|missions||||2,262,130||2,262,130|
||12,166,762||(255,693)|2,329,531||14,240,600|
|General funds|||||||
|General Funds|4,445,938|3,209,257|(2,084,173)|(2,329,531)|(187,611)|3,053,880|
|Total|||||||
|Unrestricted|||||||
|funds|16,612,700|3,209,257|(2,339,866)||(187,611)|17,294,480|
|Restricted|||||||
|funds|||||||
|Gifts||242,823|(242,823)||||
|Mass intentions|20,147|21,275|(12,750)|||28,672|
|Property<br>fund|1,566,079||(35,883)|||1,530,196|
|Job Retention|||||||
|Scheme||737|(737)||||
||1,586,226|264,835|(292,193)|||1,558,868|
|Total offunds|18,198,926|3,474,092|(2,632,059)||(187,611)|18,853,348|





## 

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## 

|Summary|of|funds - current yea|r|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
|||Balance at 1|||Transfers|Gains/|31 March|
|||April 2020|Income<br>F|Expenditure<br>P|in/out<br>f|(Losses)|2021|
|Designated||||||||
|funds||14,240,600||(1,990,726)|1,477,189||13,727,063|
|General funds||3,053,880|2,992,784|(969,918)|(1,477,189)|706,072|4,305,629|
|Restricted||||||||
|funds||1,558,868|307,214|(310„293)|||1,555,789|
|||18,853,348|3,299,998|(3,270,937)||706,072|19,588,481|
|Summary|of|funds - prior year||||||
||||||||Balance at|
|||Balance at|||Transfers|Gains/|31 March|
|||1 April 2019|Income|Expenditure|in/out|(Losses)|2020|
||||E|E|F|f.||
|Designated||||||||
|funds||12,166,762||(255,693)|2,329,531||14,240,600|
|General funds||4,445,938|3,209,257|(2,084,173)|(2,329,531)|(187,611)|3,053,880|
|Restricted||||||||
|funds||1,586,226|264,835|(292,193)|||1,558,868|
|||18,198,926|3,474,092|(2,632,059)||(187,611)|18,853,348|



|Analysis of net assets between funds - cur|rent year|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2021|2021|2021|
||F|E||
|Tangible fixed assets|3,786,137|1,494,313|5,280,450|
|Fixed asset investments|4,295,295||4,295,295|
|Current assets|12,689,391|61,476|12,750,867|
|Creditors due within one year|(2,738,131)||(2,738,131)|
|Total|18,032,692|1,555,789|19,588,481|





## 

## 

||||||||||
|---|---|---|---|---|---|---|---|---|
|21.|Analysis of net assets between||funds (continued)||||||
||Analysis of net assets between||funds - prior year||||||
||||||Unrestricted||Restricted|Total|
||||||funds||funds|funds|
||||||2020||2020|2020|
|||||||E|P||
||Tangible<br>fixed assets||||3,868,212||1,530,196|5,398,408|
||Fixed asset investments||||3,737,100|||3,737,100|
||Current assets||||11,535,502||28,672|11,564,174|
||Creditors due within one year||||(1,846,334)|||(1,846,334)|
||Total||||17,294,480||1,558,868|18,853,348|
|22.|Reconciliation<br>of|net movement|in funds to net|cash|flow from operating||activities||
||||||||2021|2020|
|||||||||E|
||Net movement<br>in|funds<br>before other recognised||gains|(per Statement|of|||
||financial<br>activities)||||||591,932|654,422|
||Adjustments<br>for:||||||||
||Depreciation<br>charges||||||119,593|122,122|
||Foreign exchange|gains/(losses)|||||143,201||
||Realised and unrealised<br>(gains)/losses<br>on investments||||||(562,871)|187,611|
||Dividends,<br>interests<br>and rents from investments||||||(99,554)|(142,312)|
||Loss/(profit)<br>on the|sale of tangible|fixed assets||||10,294|(800)|
||Increase<br>in debtors||||||(346,071)|(392,492)|
||(Decrease)/increase|in creditors|||||891,797|235,991|
||Net cash provided|by operating|activities||||748,321|664,542|
|23.|Analysis ofcash|and cash equivalents|||||||
||||||||2021|2020|
||Cash<br>in investment|portfolios|||||176,453|73,715|
||Cash at bank and|in hand|||||8,798,965|7,966,435|
||Total cash and cash equivalents||||||8,975,418|8,040,150|





## 

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## 

||||||Changes<br>in||
|---|---|---|---|---|---|---|
||||At 1 April||market|At 31 March|
||||2020|Cash flows|value|2021|
|||||E|E||
||||F||||
|Cash|at bank and|in hand|7,966,435|832,530||8,798,965|
|Liquid|investments||2,591,025||8,092|2,599,117|
||||10,557,460||8,092|10,565,552|



## 

## 

||||2021|2020|
|---|---|---|---|---|
||||E|E|
|Not later than||1 year|7,559|9,870|
|Later than|1|year and not later than 5years|1,890|17,370|
||||9,449|27,240|





##