REGISTERED CHARITY NUMBER: 225925
MISSIONARY SISTERS OF THE GOSPEL REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021
| 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 2021
The Trustees present their report with the financial statements of the charity for the year ended 31 December 2021. 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 2021.
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:
-
accounting records were not kept in respect of the Trust as required by section 130 Act; or
-
the accounts do not accord with those records; or
-
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 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 35,791 Investment Income 2 4,164 Total 39,955 EXPENDITURE ON Raising funds 3 - CHARITABLE ACTIVITIES The Convent 47,827 Other 1,339 Total 49,166 Net gains/(losses) on investments (948) NET INCOME/(EXPENDITURE) (10,159) RECONCILIATION OF FUNDS Total funds brought forward 395,632 TOTAL FUNDS CARRIED FORWARD 385,473 |
2020 Total funds £ 35,074 4,931 |
|---|---|
| 40,005 - 39,297 1,098 |
|
| 40,395 (22,779) |
|
| (23,169) 418,801 |
|
| 395,632 |
The notes form part of these financial statements
Page 3
MISSIONARY SISTERS OF THE GOSPEL
BALANCE SHEET AT 31 DECEMBER 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 7,531 CURRENT ASSETS Investments 7 368,602 Cash at bank and in hand 9,341 377,943 NET CURRENT ASSETS 377,943 TOTAL ASSETS LESS CURRENT LIABILITIES 385,473 NET ASSETS 385,473 FUNDS 8 Unrestricted funds 385,473 TOTAL FUNDS 385,473 |
2020 Total funds £ 10,041 366,191 19,400 |
|---|---|
| 385,591 | |
| 385,591 | |
| 395,632 | |
| 395,632 | |
| 395,632 | |
| 395,632 |
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 2021
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 2021
2. INVESTMENT INCOME
| 2. INVESTMENT INCOME |
||
|---|---|---|
| Other investment income Deposit account interest 3. RAISING FUNDS Investment management costs Support costs |
2021 £ 3,212 952 4,164 2021 £ - - |
2020 £ 3,759 1,172 |
| 4,931 | ||
| 2020 £ - |
||
| - |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration of other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.
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 2021
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| 5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
|
|---|---|
| INCOME AND ENDOWMENTS FROM Donations and legacies Investment income Total EXPENDITURE ON Raising funds Charitable activities The Convent Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 6. TANGIBLE FIXED ASSETS COST At 1 January 2021 and 31 December 2021 Addition 2021 DEPRECIATION At 1 January 2021 Charge for year At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 |
Unrestricted fund £ 35,791 4,164 |
| 39,955 - 47,827 1,339 |
|
| 49,166 (948) |
|
| (10,159) 395,632 |
|
| 385,473 | |
| Motor Vehicles 32,894 - 22,853 2,510 |
|
| 25,363 | |
| 7,531 | |
| 10,041 |
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 2021
7. CURRENT ASSET INVESTMENTS
| 7. CURRENT ASSET INVESTMENTS |
|||
|---|---|---|---|
| Other 8. MOVEMENT IN FUNDS Unrestricted funds General fund TOTAL FUNDS Net movement in funds, included in the above Unrestricted funds General fund TOTAL FUNDS |
are as follows: Incoming resources £ 39,955 |
2021 2020 £ £ 368,602 366,191 Net movement in At 1.1.2021 funds At 31.12.2021 £ £ £ 395,632 (10,159) 385,473 |
2020 £ |
| 366,191 | |||
| 395,632 (10,159) 385,473 |
|||
| Resources Gains and Movement expended losses in funds £ £ £ (49,166) (948) (10,159) |
|||
| 39,955 | (49,166) (948) (10,159) |
Comparatives for movement in funds
| Unrestricted funds General fund TOTAL FUNDS Comparative net movement in funds, included Unrestricted funds General fund TOTAL FUNDS |
in the above ar Incoming resources £ 40,005 |
Net movement At 1.1.2020 funds At 31.12.2020 £ £ £ 418,801 (23,169) 395,632 |
|---|---|---|
| 418,801 (23,169) 395,632 |
||
| e as follows: Resources Gains and Movement expended losses in funds £ £ £ (40,395) (22,779) (23,169) |
||
| 40,005 | (40,395) (22,779) (23,169) |
The notes form part of these financial statements
Page 8
MISSIONARY SISTERS OF THE GOSPEL
NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2021
A current year 12 months and prior year 12 months combines position is as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Net movement At 1.1.2020 funds At 31.12.2021 £ £ £ 418,801 (33,328) 385,473 |
|---|---|
| 418,801 (33,328) 385,473 |
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 £ £ £ £ 79,960 (89,560) (23,727) (33,328) |
|---|---|
| 79,960 (89,560) (23,727) (33,328) |
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2021.
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 2021
| INCOME AND ENDOWMENTS Donations and legacies Salary Pension Refunds Gifts Investment Income Other investment income Deposit account interest Total incoming resources EXPENDITURE Charitable activities Rates and water Insurance Light and heat Telephone Postage and stationery Maintenance Clothing Charity Motor expenses Travel Medical Library & Subs Parish & Diocese Retreats Leisure Presents Food Meals & Accommodation Subscriptions Household & Small Equipment Support Costs Finance Bank charges Motor vehicles |
2021 £ 6,996 28,330 380 84 35,790 3,771 394 4,164 39,955 1,738 1,529 3,950 2,576 589 4,316 950 1,060 3,641 1,801 3,685 1,038 731 940 294 1,221 7,504 2,049 252 2,096 41,962 3,355 2,510 5,865 |
2020 £ 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 |
The notes form part of these financial statements
Page 10
MISSIONARY SISTERS OF THE GOSPEL
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021
| 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 |
2021 £ 1,339 49,166 (9,211) (948) (10,159) |
2020 £ 1,098 |
|---|---|---|
| 40,394 | ||
| (388) (22,779) |
||
| (23,167) |
The notes form part of these financial statements
Page 11