REGISTERED CHARITY NUMBER: 225925
MISSIONARY SISTERS OF THE GOSPEL REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED
31 DECEMEBER 2020
J T Thomas & Co Chartered Accountants 9 Chestnut Court
Parc Menai Bangor Gwynedd LL57 4FH
MISSIONARY SISTERS OF THE GOSPEL
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
||Page|
|---|---|
|Report of the Trustees|1|
|Independent Examiner's Report|2|
|Statement of Financial Activities|3|
|Balance Sheet|4|
|Notes to the Financial Statements|5 to 9|
|Detailed Statement of Financial Activities|10 to 11|
MISSIONARY SISTERS OF THE GOSPEL
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020
The Trustees present their report with the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Such charitable purposes as advance the religion and other charitable work as the trustees think fit and in particular to imitate the life of the Saviour by teaching and nursing for no financial reward.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
225925
## **Principal address**
Bryn Hyfryd Longford Road Holyhead Isle of Anglesey LL65 1TR
## **Trustees**
Sister M Kelly Sister M M Higginbotham Sister M M Richards Sister S M Healy
## **Independent examiner**
J T Thomas & Co Chartered Accountants 9 Chestnut Court, Parc Menai Bangor, Gwynedd LL57 4FH Approved by order of the board of trustees on …................. and signed on its behalf by:
## Sister M M Richards - Trustee
Page 1
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MISSIONARY SISTERS OF THE GOSPEL
## **Independent examiner's report to the trustees of Missionary Sisters of the Gospel**
I report to the charity trustees on my examination of the accounts of the Missionary Sisters of the Gospel (the Trust) the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
J T Thomas & Co Chartered Accountants 9 Chestnut Court Parc Menai Bangor Gwynedd LL57 4FH
Date:
Page 2
## MISSIONARY SISTERS OF THE GOSPEL
## STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE YEAR ENDED 31 DECEMBER 2020
|**2020**
**Unrestricted fund**
Notes
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**35,074**
Investment Income
2
**4,931**
**Total**
**40,005**
**EXPENDITURE ON**
Raising funds
3
**-**
**CHARITABLE ACTIVITIES**
The Convent
**39,297**
Other
**1,098**
**Total**
**40,395**
Net gains/(losses) on investments
**(24,419)**
**NET INCOME/(EXPENDITURE)**
**(24,808)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**418,801**
**TOTAL FUNDS CARRIED FORWARD**
**393,993**|2019
Total funds
£
33,814
5,675
39,488
-
42,401
1,008
43,409
9,563
5,642
413,159
418,801|
|---|---|
The notes form part of these financial statements
Page 3
MISSIONARY SISTERS OF THE GOSPEL
## BALANCE SHEET AT 31 DECEMBER 2020
|**2020**
**Unrestricted fund**
Notes
**£**
**FIXED ASSETS**
Tangible assets
6
**10,041**
**CURRENT ASSETS**
Investments
7
**364,551**
Cash at bank and in hand
**19,400**
**383,951**
**NET CURRENT ASSETS**
**383,951**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**393,993**
**NET ASSETS**
**393,993**
**FUNDS**
8
Unrestricted funds
**393,993**
**TOTSL FUNDS**
**393,993**|2019
Total funds
£
2,889
394,255
21,658
415,913
415,913
418,801
418,801
418,801
418,801|
|---|---|
The financial statements were approved by the Board of Trustees on….....................and were signed on its behalf by:
Sister M M Richards - Trustee
Sister S M Healy - Trustee
The notes form part of these financial statements
Page 4
MISSIONARY SISTERS OF THE GOSPEL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020
**1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probably that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor Vehicles
-25% on reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
The notes form part of these financial statements
Page 5
MISSIONARY SISTERS OF THE GOSPEL
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
## **2.**
## **3.**
## **INVESTMENT INCOME**
|Other investment income
Deposit account interest
**RAISING FUNDS**
**Investment management costs**
Support costs|**2020**
**£**
**3,759**
**1,172**
**4,931**
**2020**
**£**
**-**
**-**|2019
£
4,717
958
5,675
2019
£
-
-|
|---|---|---|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration of other benefits for the year ended 31 December 2020 nor for the year ended 31 December 2019.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2020 nor for the year ended 31 December 2019.
The notes form part of these financial statements
Page 6
MISSIONARY SISTERS OF THE GOSPEL
## NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
## **6.**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**|
|---|---|
|**Unrestricted**
**fund**
**£**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
33,814
Investment income
5,675||
|**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
The Convent
Other|39,488
-
42,401
1,008|
|**Total**
**Net gains/(losses) on investments**|43,409
9,563|
|**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**|5,642
413,159|
|**TOTAL FUNDS CARRIED FORWARD**|418,801|
|**TANGIBLE FIXED ASSETS**
**Motor Vehicles**
**COST**
At 1 January 2020 and 31 December 2020
**22,394**
Addition 2020
**10,500**
**DEPRECIATION**
At 1 January 2020
**19,505**
Charge for year
**3,347**||
|At 31 December 2020|**22,853**|
|**NET BOOK VALUE**
At 31 December 2020|**10,041**|
|At 31 December 2019|2,889|
|The notes form part of these financial statements||
Page 7
## MISSIONARY SISTERS OF THE GOSPEL
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
## **7. CURRENT ASSET INVESTMENTS**
## **8.**
|||**2020**
**£**||2019
£|
|---|---|---|---|---|
|Other||**364,551**||394,255|
|**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund||**At 1.1.2020**
**£**
**418,801**|**Net**
**movement in**
**funds**
**At 31.12.2020**
**£**
**£**
**-24,808**
**393,993**||
|**TOTAL FUNDS**||**418,801**|**-24,808**|**393,993**|
|Net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
**40,005**||**Resources**
**expended**
**£**
**(40,395)**|**Gains and**
**losses**
**£**
**(24,419)**|**Movement**
**in funds**
**£**
**(24,808)**|
|**TOTAL FUNDS**|**40,005**|**(40,395)**|**(24,419)**|**(24,808)**|
|**Comparatives for movement in funds**
**Unrestricted funds**
General fund||**At 1.1.2019**
**£**
413,159|**Net**
**movement**
**in funds**
**£**
5,642|**At 31.12.2019**
**£**
418,801|
|**TOTAL FUNDS**||413,159|5,642|418,801|
|Comparative net movement in funds, included in the above are as follows:
**Incoming**
**Resources**
**resources**
**expended**
**Unrestricted funds**
**£**
**£**
General fund
39,488
(43,409)|||**Gains and**
**losses**
**£**
9,563|**Movement**
**in funds**
**£**
5,642|
|**TOTAL FUNDS**|39,488|(43,409)|9,563|5,642|
|The notes form part of these financial statements|||||
Page 8
**9. RELATED PARTY DISCLOSURES**
## MISSIONARY SISTERS OF THE GOSPEL
## NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2020
A current year 12 months and prior year 12 months combines position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Net**
**movement**
**At 1.1.2019**
**in funds**
**At 31.12.2020**
**£**
**£**
**£**
**413,159**
**(19,166)**
**393,993**
**413,159**
**(19,166)**
**393,993**|
|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|**Incoming**
**Resources**
**Gains and**
**Movement**
**resources**
**expended**
**losses**
**in funds**
**£**
**£**
**£**
**£**
**79,493**
**(83,804)**
**(14,856)**
**(19,166)**
**79,493**
**(83,804)**
**(14,856)**
**(19,166)**|
|---|---|
There were no related party transactions for the year ended 31 December 2020.
The notes form part of these financial statements
Page 9
## MISSIONARY SISTERS OF THE GOSPEL
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020
|**2020**
**£**
**INCOME AND ENDOWMENTS**
**Donations and legacies**
Salary
**6,996**
Pension
**27,978**
Refunds
**-**
Gifts
**100**
**35,074**
**Investment Income**
Other investment income
**3,759**
Deposit account interest
**1,172**
**4,931**
**Total incoming resources**
**40,005**
**EXPENDITURE**
**Charitable activities**
Rates and water
**1,680**
Insurance
**1,464**
Light and heat
**3,085**
Telephone
**1,725**
Postage and stationery
**659**
Maintenance
**2,234**
Clothing
**1,029**
Charity
**1,400**
Motor expenses
**3,334**
Travel
**439**
Medical
**936**
Library & Subs
**1,020**
Parish & Diocese
**1,129**
Retreats
**505**
Leisure
**145**
Presents
**1,116**
Food
**8,319**
Meals & Accommodation
**1,202**
Subscriptions
**252**
Household & Small Equipment
**2,460**
**34,134**
**Support Costs**
**Finance**
Bank charges
**1,815.65**
Motor vehicles
**3,347**
**5,163**
The notes form part of these financial statements|2019
£
6,996
26,610
-
208
33,814
4,717
958
5,675
39,488
1,623
1,566
2,096
1,036
514
3,450
970
1,107
5,188
4,684
1,137
1,098
1,426
1,880
668
1,424
7,008
1,935
0
2,627
41,438
-
963
963|
|---|---|
Page 10
## MISSIONARY SISTERS OF THE GOSPEL
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2020
|**Governance costs**
Accountancy and legal fees
**Total resources expended**
**Net (expenditure)/income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments
**Net (expenditure)/income**|**2020**
**£**
**1,098**
**40,395**
**(389)**
**(22,779)**
**(23,168)**|2019
£
1,008
43,409
(3,920)
(3,408)
(7,328)|
|---|---|---|
The notes form part of these financial statements
Page 11