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||||Page|
|---|---|---|---|
|Reference and administrative||details ofthe Charity, its Trustees and advisers||
|Trustees'
report|||2-7|
|Independent
auditor's|report|on the financial statements|8-11|
|Statement
offinancial|activities||12|
|Balance sheet|||13|
|Statement ofcash flows|||14|
|Notes to the financial|statements||15-35|
|Trustees||Rev J Boles, Chair|Rev J Boles, Chair|
|---|---|---|---|
|||Rev D O' Malley (resigned 31 March 2023)||
|||Rev D Carter||
|||Rev B McDermott||
|Charity registered||||
|numbers||221594 and SC038948||
|Principal office||Widney Manor Road||
|||Knowle||
|||Solihull||
|||B939AB||
|Independent|auditor|Dains Audit Limited||
|||15Colmore
Row||
|||Birmingham||
|||B32BH||
|Bankers||NatWest||
|||24 Broadgate||
|||Coventry||
|||West Midlands||
|||CV1 1NE||
|||Santander||
|||Customer|Service Centre|
|||Bootle||
|||Merseyside||
|||L304GB||
|||Allied
Irish|Bank (AIB)|
|||61 Temple|Row|
|||Birmingham||
|||B2 5LT||
|Solicitors||Standley
&Co||
|||1612High|Street|
|||Knowle||
|||Solihull||
|||B93OJU||
|Investment|Managers|Premier
Mlton Group||
|||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|
|||||2023|2023|2023|2022|
||||Note|6|6|6||
|Income from:||||||||
|Donations
and legacies|||4|2,613,776|226,490|2,840,266|3,644,996|
|Investments|||5|245,505||245,505|95,877|
|Other income|||6|8,677||8,677|5,054|
|Total income||||2,867,958|226,490|3,094,448|3,745,927|
|Expenditure
on:||||||||
|Raising funds|||7|261,336||261,336|284,918|
|Charitable
activities|||8|1,015,091|304,472|1,319,563|3,356,572|
|Total expenditure||||1,276,427|304,472|1,580,899|3,641,490|
|Net income/(expenditure)||before||1,591,531|(77,982)|1,513,549|104,437|
|investments||||||||
|Net (losses)/gains|on investments|||(221,671)||(221,671)|142,131|
|Net (expenditure)/income||||1,369,860|(77,982)|1,291,878|246,568|
|Transfers
between|funds||19|1,374,746|(1,374,746)|||
|Net movement
in|funds before other|||||||
|gains/(losses)||||2,744,606|(1,452,728)|1,291,878|246,568|
|Foreign exchange|losses|||(49,424)||(49,424)|(956)|
|Net movement
in|funds|||2,695,182|(1,452,728)|1,242,454|245,612|
|Reconciliation
of|funds:|||||||
|Total funds
brought|forward||19|18,284,172|1,549,921|19,834,093|19,588,481|
|Net movement
in funds||||2,695,182|(1,452,728)|1,242,454|245,612|
|Total funds carried forward|||19|20,979,354|97,193|21,076,547|19,834,093|
##
##
||||||2023||2022|
|---|---|---|---|---|---|---|---|
||||Note|||||
|Fixed assets||||||||
|Tangible assets|||14||5,062,490||5,171,973|
|Investments|||15||4,281,785||4,513,091|
||||||9,344,275||9,685,064|
|Current assets||||||||
|Debtors|||16|826,227||1,244,812||
|Investments|||17|16,023,104||16,818,776||
|Cash at bank|and|in hand||9,070,665||8,734,889||
|||||25,919,996||26,798,477||
|Creditors: amounts||falling due within one||||||
|year|||18|(14,187,724)||(16,649,448)||
|Net current|assets||||11,732,272||10,149,029|
|Total net assets|||||21,076,547||19,834,093|
|Charity funds||||||||
|Restricted funds|||19||97,193||1,549,921|
|Unrestricted|funds||19||20,979,354||18,284,172|
|Total funds|||||21,076,547||19,834,093|
##
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||||Note|E||
|Cash flows from operating||activities||||||
|Net cash|used
in operating
activities||||22|677,240|(79,239)|
|Cash flows from financing||activities||||||
|Interests|and dividends
from|investments||||245,505|95,877|
|Proceeds|from the sale of tangible fixed||assets|||5,550||
|Purchase|oftangible
fixed assets|||||(38,681)|(28,372)|
|Proceeds|from sale of investments|||||526,500|392,812|
|Purchase|of investments|||||(815,135)|(343,448)|
|Net cash|(used in)/provided|by financing||activities||(76,261)|116,869|
|Change|in cash and cash|equivalents|in|the year||600,979|37,630|
|Cash and|cash equivalents|at the beginning||of the year||9,013,048|8,975,418|
|Cash and cash equivalents||at the end|of|the year|23|9,614,027|9,013,048|
|The notes on pages 15to 35form part ofthese financial statements||||||||
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||Unrestricted|Restricted|Total|
|---|---|---|---|
||funds|funds|funds|
||2023|2023|2023|
|||6|6|
|Donations|1,416,914||1,416,914|
|Legacies|1,196,862||1,196,862|
|Gifts||180,223|180,223|
|Mass intentions||46,267|46,267|
||2,613,776|226,490|2,840,266|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2022
6|2022|2022f|
|Donations|1,539,947||1,539,947|
|Legacies|1,697,726|108,196|1,805,922|
|Gifts||279,049|279,049|
|Mass intentions||20,078|20,078|
||3,237,673|407,323|3,644,996|
##
||||Unrestricted|Total|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2023|2023|2022|
||||6|6||
|Interest and dividends|generated|from investments|95,093|95,093|87,686|
|Bank interest received|||150,412|150,412|8,191|
||||245,505|245,505|95,877|
##
##
|||Unrestricted|Total|Total|
|---|---|---|---|---|
|||funds|funds|funds|
|||2023|2023|2022|
||||F||
|Surplus on disposal|of tangible assets|4,584|4,584||
|Other income||4,093|4,093|5,054|
|||8,677|8,677|5,054|
##
##
|||||Unrestricted|Total|Total|
|---|---|---|---|---|---|---|
|||||funds|funds|funds|
|||||2023|2023|2022|
|"Far East"|magazine|production||167,209|167,209|182,906|
|Support costs|||||||
|||||Unrestricted|Total|Total|
|||||funds|funds|funds|
|||||2023|2023|2022|
|||||6|6|6|
|Website media||||56,149|56,149|47,140|
|Investment|management||fees|26,364|26,364|28,237|
|Legal and|professional||fees|11,614|11,614|26,635|
|||||94,127|94,127|102,012|
##
##
##
||||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|
||||||funds|funds|Total|
||||||2023|2023|2023|
||||||E|E|E|
|Furtherance|ofthe|objects|ofthe|charity|1,015,091|304,472|1,319,563|
|Unrestricted|Restricted||
|---|---|---|
|funds|funds|Total|
|2022|2022|2022|
|E|E||
|2,943,381|413,191|3,356,572|
##
||||||Activities|Grant|||
|---|---|---|---|---|---|---|---|---|
||||||undertaken|funding
of|Support|Total|
||||||directly|activities|costs|funds|
||||||2023|2023|2023|2023|
||||||E|E|E|E|
|Furtherance|ofthe|objects|ofthe|charity|527,992|2,734|788,837|1,319,563|
||||||Activities|Grant|||
||||||undertaken|funding
of|Support|Total|
||||||directly|activities|costs|funds|
||||||2022|2022|2022|2022|
||||||E|E.|E|E|
|Furtherance|ofthe|objects|ofthe|charity|2,509,177|4,259|843,136|3,356,572|
##
##
||||Total|Total|
|---|---|---|---|---|
||||funds|funds|
||||2023|2022|
|Amounts
remitted||to the central fund ofthe order for|||
|distribution|to the missions|||1,968,618|
|Priests' allowances|||78,177|95,519|
|House expenses|||145,343|151,416|
|Mass intentions|||45,612|14,605|
|Gifts|||258,860|279,019|
||||527,992|2,509,177|
|Analysis of|support costs||||
||||Total|Total|
||||funds|funds|
||||2023|2022|
|||||6|
|Staff costs|||389,677|397,501|
|Depreciation|||148,164|136,849|
|Office expenses|||181,956|231,666|
|Motor vehicle and||travelling|35,981|52,663|
|Professional|fees &charges||19,309|11,957|
|Governance|||13,750|12,500|
||||788,837|843,136|
##
##
|||||||Total|
|---|---|---|---|---|---|---|
|||||Grants|paid|funds|
||||||2023|2023f|
|Contributions|to|Catholic|institutions|2,734||2,734|
|||||||Total|
|||||Grants|paid|funds|
||||||2022f|2022
6|
|Contributions|to|Catholic|institutions|4,259||4,259|
##
|||||||2023|2022|
|---|---|---|---|---|---|---|---|
||||||||6|
|Depreciation
oftangible|||fixed|assets||148,164|136,849|
|Surplus|on disposal of||tangible fixed assets|||(4,584)||
|Auditor's||remuneration|- audit|||13,750|12,500|
|Auditor's||remuneration|- non-audit||services||1,175|
|Operating||lease rentals||||1,890|1,890|
|Foreign|exchange losses|||||49,424|956|
|Defined||pension
contribution||cost||18,385|16,600|
##
##
||||2023|2022|
|---|---|---|---|---|
||||No.|No.|
|Administration|and|Support|19|20|
##
##
||||Furnitur,||
|---|---|---|---|---|
||Freehold|Motor|fixtures and||
||property|vehicles|fittings|Totalf|
|Cost|||||
|At 1 April 2022|6,712,211|122,355|169,817|7,004,383|
|Additions||24,968|13,713|38,681|
|Disposals||(25,300)||(25,300)|
|At 31 March 2023|6,712,211|122,023|183,530|7,017,764|
|Depreciation|||||
|At 1 April 2022|1,605,904|86,429|140,077|1,832,410|
|Charge for the year|119,567|9,407|19,190|148,164|
|On disposals||(25,300)||(25,300)|
|At 31 March 2023|1,725,471|70,536|159,267|1,955,274|
|Net book value|||||
|At 31 March 2023|4,986,740|51,487|24,263|5,062,490|
|At 31 March 2022|5,106,307|35,926|29,740|5,171,973|
##
|||Listed|Cash trading||
|---|---|---|---|---|
|||investments|account
f|Total|
|Market value|||||
|At 1 April 2022||4,281,785|278,159|4,559,944|
|Additions||794,978|(794,978)||
|Disposals||(547,834)|526,500|(21,334)|
|Revaluations||(322,805)||(322,805)|
|Income net offees and amounts|remitted||65,980|65,980|
|At 31 March 2023||4,206,124|75,661|4,281,785|
##
|Debtors|||||
|---|---|---|---|---|
||||2023|2022|
|||||5|
|Legacies|due||759,638|976,088|
|Amount|due from other regions||1,796|82,315|
|Other debtors|||38,583|157,775|
|Prepayments||and accrued income|26,210|28,634|
||||826,227|1,244,812|
##
##
|Current asset investmen|ts|||
|---|---|---|---|
|||2023
f|2022
6|
|CA Medical &Retirement|funds|12,943,946|14,223,761|
|Other listed investments||2,654,158|2,595,015|
|Cash deposits||425,000||
|||16,023,104|16,818,776|
##
|||2023
6|2022f|
|---|---|---|---|
|CA Medical &Retirement|funds|12,943,946|14,242,982|
|Amount
due to other regions||1,134,410|2,290,882|
|Other taxation and social|security|5,724|7,097|
|Other creditors||57,318|52,869|
|Accruals||46,326|55,618|
|||14,187,724|16,649,448|
##
##
|Statement offunds|||||||
|---|---|---|---|---|---|---|
|Statement offunds|- current year||||||
|||||||Balance at|
||Balance at 1|||Transfers|Gains/|31 March|
||April 2022
E|Income
E|Expenditure
E|in/(out)
6|(Losses)
E|2023
f|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Fixed asset fund|3,797,227||(148,164)|1,413,427||5,062,490|
|Retirement
house|||||||
|fund|7,861,049||(115,405)|||7,745,644|
|Overseas
missions|2,000,000|||||2,000,000|
||13,658,276||(263,569)|1,413,427||14,808,134|
|General funds|||||||
|General funds|4,625,896|2,867,958|(1,012,858)|(38,681)|(271,095)|6,171,220|
|Total Unrestricted|||||||
|funds|18,284,172|2,867,958|(1,276,427)|1,374,746|(271,095)|20,979,354|
|Restricted funds|||||||
|Gifts|21,239|180,223|(176,680)|||24,782|
|Mass intentions|45,740|46,267|(45,612)|||46,395|
|Property fund|1,374,746|||(1,374,746)|||
|Restricted legacies|108,196||(82,180)|||26,016|
||1,549,921|226,490|(304,472)|(1,374,746)||97,193|
|Total offunds|19,834,093|3,094,448|(1,580,899)||(271,095)|21,076,547|
##
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##
##
##
##
##
|Statement offunds|- prior year||||||
|---|---|---|---|---|---|---|
|||||||Balance at|
||Balance at|||Transfers|Gains/|31 March|
||1 April 2021
6|Income
f|Expenditure|in/(out)
6|(Losses)|2022|
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Fixed asset fund|3,786,137||(17,282)|28,372||3,797,227|
|Retirement
house|||||||
|fund|7,940,926||(79,877)|||7,861,049|
|Overseas
missions|2,000,000||(1,968,618)|1,968,618||2,000,000|
||13,727,063||(2,065,777)|1,996,990||13,658,276|
|General funds|||||||
|General funds|4,305,629|3,338,604|(1,162,522)|(1,996,990)|141,175|4,625,896|
|Total Unrestricted|||||||
|funds|18,032,692|3,338,604|(3,228,299)||141,175|18,284,172|
|Restricted funds|||||||
|Gifts|21,209|279,049|(279,019)|||21,239|
|Mass intentions|40,267|20,078|(14,605)|||45,740|
|Property
fund|1,494,313||(119,567)|||1,374,746|
|Restricted legacies||108,196||||108,196|
||1,555,789|407,323|(413,191)|||1,549,921|
|Total offunds|19,588,481|3,745,927|(3,641,490)||141,175|19,834,093|
##
||||||||Balance at|
|---|---|---|---|---|---|---|---|
|||Balance at 1|||Transfers|Gains/|31 March|
|||April 2022|Income|Expenditure|in/out|(Losses)|2023|
|||||F|6|6|6|
|Designated|funds|13,658,276||(263,569)|1,413,427||14,808,134|
|General funds||4,625,896|2,867,958|(1,012,858)|(38,681)|(271,095)|6,171,220|
|Restricted|funds|1,549,921|226,490|(304,472)|(1,374,746)||97,193|
|||19,834,093|3,094,448|(1,580,899)||(271,095)|21,076,547|
|Summary|offunds|- prior year||||||
||||||||Balance at|
|||Balance at|||Transfers|Gains/|31 March|
|||1 April 2021
5|Income
f|Expenditure
6|in/out
6|(Losses)|2022|
|Designated|funds|13,727,063||(2,065,777)|1,996,990||13,658,276|
|General funds||4,305,629|3,338,604|(1,162,522)|(1,996,990)|141,175|4,625,896|
|Restricted|funds|1,555,789|407,323|(413,191)|||1,549,921|
|||19,588,481|3,745,927|(3,641,490)||141,175|19,834,093|
##
##
|Analysis of net assets between funds - curr|ent year|||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2023|2023|2023|
||6|||
|Tangible fixed assets|5,062,490||5,062,490|
|Fixed asset investments|4,281,785||4,281,785|
|Current assets|12,878,857|13,041,139|25,919,996|
|Creditors due within one year|(1,243,778)|(12,943,946)|(14,187,724)|
|Total|20,979,354|97,193|21,076,547|
|21.|Analysis of net assets between|funds|(continued)|(continued)||||
|---|---|---|---|---|---|---|---|
||Analysis of net assets between|funds|- prior year|||||
||||||Unrestricted|Restricted|Total|
||||||funds|funds|funds|
||||||2022|2022|2022f|
||Tangible fixed assets
Fixed asset investments||||3,797,227
4,513,091|1,374,746|5,171,973
4,513,091|
||Current assets||||12,380,320|14,418,157|26,798,477|
||Creditors due within one year||||(2,406,466)|(14,242,982)|(16,649,448)|
||||||18,284, 172|1,549,921|19,834,093|
||Total|||||||
|22.|Reconciliation
of net movement|in funds||to net cash flow from operating||activities||
|||||||2023|2022|
|||||||6|6|
||Net income for the year (as per Statement|||of Financial|Activities)|1,291,878|246,568|
||Ad)ustments
for:
Depreciation
charges
Foreign exchange
gains/(losses)
Realised and unrealised
(gains)/losses||on|investments||148,164
(49,424)
221,671|136,849
(956)
(142,131)|
||Dividends,
interests
and rents from investments|||||(245,505)|(95,877)|
||Surplus
on the sale of tangible fixed assets
Decrease
in debtors|||||(4,584)
418,585|107,973|
||(Decrease)/increase
in creditors|||||(1,103,545)|(331,665)|
||Net cash provided
by/(used
In) operating
activities|||||677,240|(79,239)|
|23.|Analysis ofcash and cash equivalents|||||||
|||||||2023|2022|
||||||||6|
||Cash in investments|||||543,362|278,159|
||Cash at bank and
in hand|||||9,070,665|8,734,889|
||Total cash and cash equivalents|||||9,614,027|9,013,048|
##
##
##
|||At 1 April||At 31 March|
|---|---|---|---|---|
|||2022|Cash flows|2023|
|Cash
Liquid|at bank and in hand
investments|8,734,889
16,818,776|335,776
(795,672)|9,070,665
16,023,104|
|||25,553,665|(459,896)|25,093,769|
##
##
||||2023|2022|
|---|---|---|---|---|
|||||F|
|Not later than
1 year
Later than
1 year and not later than 5 years|||1,008
2,016|1,890|
||||3,024|1,890|
##
##
##