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2023-03-31-accounts

Trustees Annual Report Trustees Annual Report
Independent Auditors
Report
Statement ofFinancial Activities
Balance Sheet
Statement ofCash Flows
Accounting Policies and Notes to the Financial Statements

f000s Permanent General Operational
Estate		 Capital
Project
Endowment Reserve Reserve Fund Total
ABDN Asset Portfolio 15,908.5 15908.5
Evelyn Partners Portfolio 2,640.8 2640.8
EdenTree
Purlfuiiu		 896.9 896.9
CCLA Portfolio 4633.2 4633.2
Investment
Property		 7,583.5 7,583.5
Cash dr Deposits 551.2 562.1 I 628.5 2741.8
Operational
Property		 7774.9 7774.9
Assets Under Construction 2 636.8 2 636.8
Other Current
Liabilities		 198.9 62.1 506.1 767.1
Total 32015.2 500.0 7774.9 37592 44049.3

Mrs Ranjana Bell Co-opted
(Appointed 30u May 2023)
Mr JPLeeOBE (Chair) Co-opted
Mr LMcGray Co-opted
Mr D WMidgley OBE Co-opted
Councillor Mrs H Stephenson Newcastle City Council (Resigned 16"June 2022)
Councillor Mrs LWright Newcastle City Council
Councillor WBTaylor Newcastle City Council
Canon PRStrange Bishop ofNewcastle
Councillor PFrew Newcastle City Council (Appointed 4a August 2022)

Statement ofFinancial A ctivities for the Vee r Ending 31st M arch 2023
Designated Jt
Unrestricted Restricted Endowment Total Total
Note Funds Funds Funds 2023 2022
f000's f000's f000's 6000's f000's
Income and endowments frotnt
Donations
and legacies		 1 0.4 0.0 0.0 0.4 0.0
Charitable
activities		 2 587.7 0.0 0.0 587.7 557.5
Investments 3 1,228.7 0.0 0.0 1,228.7 1,235.1
Totalincome and endowments 1,816.8 0.0 0.0 1,816.8 1,792.6
Expenditure
on:
Raising funds 4 0.0 0.0 289.9 289.9 278.5
Charitable
activities		 5 1,018.7 158.4 0.0 1,177.1 1,701.3
Other 0.0 0.0 0.0 0.0 0.0
Total tot/tend/tare 1,018.7 158.4 289.9 1,467.0 1,979.8
Net income
/ (expenditure)		 before investment gains 798.1 (158.4) (289.9) 349.8 (187.2)
Net losses on investments 13 0.0 0.0 (1,532.7) (1,532.7) (848.0)
Net income
/ (expenditure)		 798.1 (158.4) (1,822.6) (1,182.9) (1,035.2)
Transfers
Gross transfers between funds 18 798.1 605.4 192.7 0.0
0.0 447.0 (1,629.9) (1,182.9) (1,035.2)
Other recognised
gains
Other gains
/ (losses)		 0.0 0.0 0,0 0.0 0.0
Net movement
in funds		 0.0 447.0 (1,629.9) (1,182.9) (1,035.2)
Reconciliation
ofFunds
Total funds brought
forward		 500.0 11,087.1 33645, 1 45,232.2 46,267.4
Total funds carried forward 18 500.0 11,534.1 32015.2 44,049.3 45232.2

Designated &
Unrestricted Restricted Endowment Total Total
Note Funds Funds Funds 2022 2021
f000's f000's f000's f000's f000's
Iocome and endowments from:
Donations and legacies I 0.0 0.0 0.0 0.0 1.3
Charitable activities 2 557.5 0.0 0.0 557.5 518.3
Investments 3 1,235.1 0.0 0.0 1,235.1 1,067.7
Total /aroma aad endowments 1,792.6 0.0 0.0 1,792.6 1,587.3
Expenditure
on:
Raising funds 0.0 0.0 278.5 278.5 227.4
Charitable
activities		 984.6 716.7 0.0 1,701.3 1,219.3
Exceptional
Item - Accelerated Depreciation		 0.0 0.0 0.0 0.0 100.5
Other 0.0 0.0 0.0 0.0 0.0
Terai rxpeadi/ure 984.6 716.7 278.5 1,979.8 1,547.2
Net income / (expenditure) before investment gains 808.0 (716.7) (278.5) (187.2) 40.1
Net gains
/ (losses) on investments		 13 0.0 0.0 (848.0) (848.0) 2,184.4
Net income
/ (expenditure)		 808.0 (7167) (1,126.5) (1,035.2) 2,224.5
Transfers
Gross transfers between funds 18 (808.0) (2,841.1) 3,649.1 0.0 0.0
0.0 (3,557.8) 2,522.6 (1,035.2) 2,224.5
Other recegnised gains
Other gains
/ (losses)		 0.0 0.0 0.0 0.0 0.0
Net movement
in		 funds 0.0 (3,557.8) 2,522.6 (1,035.2) 2,224,5
Reconciliation
of		 Funds
Total funds brought forward 500.0 14,644.9 31,122.5 46,267.4 44,042.9
Total funds carried forward 18 500.0 11,087.1 33645.1 45 232.2 46,267.4

Designated
Unrestricted dt Restricted Endowment Total Total
Nate Funds Funds Funds 2023 2022
6000's f000's f000's f000's 6000's
Fixed Assets:
Operational Estate 12 0.0 I0,411.7 0.0 10,411.7 7,633.9
Investments 13 0.0 0.0 31,662.8 31,662.8 33,295.2
Total Fixed Assets 0.0 10,411.7 31,662.8 42,074.5 40,929.1
Current
Assets
Debtors 14 22.6 0.0 13.5 36.1 69.3
Cash at bank and in hand 561.8 1,628.5 551.2 2,741.5 4,552.3
Total current assets 584.4 1,628.5 564.7 2,777.6 4,621.6
Liabilities
Creditors
Amounts
falling due within one year		 15 (84,4) (506.1) (212.3) (802.8 (318.5
Net current assets 500.0 1,122.4 352.4 1,974.8 4,303.1
Total assets less current liabilities 500.0 11,534.1 32,015.2 44,049.3 45,232.2
Long Term Liabilities 16 0.0 0.0 0.0 0.0 0.0
Net Assets 500.0 11,534.1 32,015.2 44,049.3 45,232.2
The funds ofthe charity
Permanent
Endowment		 Fund 0.0 0.0 32,015.2 32,015.2 33,645.1
General Reserve 500.0 0.0 0.0 500.0 500.0
Capital Projects Fund 0.0 3,759.2 0.0 3,759.2 3,633.3
Operational
Estate Reserve		 0.0 7,774.9 0.0 7,774.9 7,453.8
Total Charity Funds 18 500.0 11,534.1 32,015.2 44,049.3 45,232.2
StMary Magdalene LHoly Jesus Trust
Cash Flow Statement for the Year Ending 31' March 2023
f000's f000's
Notes 2023 2022
Net cash inflow from operating
activities		 (a) 1,053.8 167.6
Cash flow from investing
activities
Capital Expenditure
on Operational
Estate		 (2,964.3) (810.5)
Net investment
income received		 (615.0) 82.5
Purchase ofinvestments (3,845.4)
Sale ofinvestments 4,560.1 1,879.3
Net cash flow from investing
activities		 2,864.6 1,151.3
Net increase in cash and cash equivalents (1,810.8) 1,318.9
Cash and cash equivalents
at I April 2022		 4,552.3 3,233.4
Cash and cash equivalents
at 31March 2023		 (b) 2,741.5 4,552.3
(a) Reconcfliation ofnet incoming resources to net cash inflow from operating activities
Net (outgoing)
resources before other recognised
and losses		 gains 349.8 (187.2)
Depreciation 186.5 172.8
Decrease
/ (Increase)		 in Debtors 33.2 216.0
Increase
/ (Decrease)		 in Creditors 484.3 (34.0)
Net cash inflow / (outflow) from operating activities 1,053.8 167.6
(b) Cash and cash equivalents
consist of:
Cash at bank and in hand 2,741.5 4,552.3
Cash and cash equivalents
at31March 2023		 2,741.5 4,552.3

I Income from donations Income from donations and legacies and legacies 2023 2022
f000's 8000's
Donations
Received		 0.4
All donations
represent unrestricted		 funds.
2 Incoming
resources		 from charitable activities 2023
f000's		 2022
6000's
Sheltered Housing 587.7 557.5
3 Income from investments 2023 2022
8000's f000's
Commercial
Estate		 490.2 706.8
Managed Financial Investments 711.1 525.6
Interest on Other Cash Balances 27.4 2.7
1,228.7 1,235.1
4 Raising Funds: Raising Funds:
Investment management costs Unrestricted Restricted Endowment 2023 2022
f000's 6000's f000's 6000's f000's
Legal fees 0.0 0.0 5.5 5.5 9.3
Investment manager fees 0.0 0.0 142.3 142.3 152.8
Other 0.0 0.0 142.1 142.1 116.4
0.0 0.0 289.9 289.9 278.5
5 Analysis ofexpenditure on charitable on charitable activities
Activities under Support Total Total
Taken Directly
f000's		 Costs
f000's		 2023
f,000's		 2022
f000's
Sheltered Housing 765.9 401.3 1,167.2 1,690.6
Grants to Brethren 9.7 0.0 9.7 10.7
Other Donations 0.2 0.0 0.2 0.0
775.8 401.3 1,177.1 1,701.3
6 Allocation ofSupport Costs Total Total
2023 2022
All Support costs are attributable
Provision ofMeals		 to Sheltered Housing f000's
43.3		 f000's
47.4
Administration
Salaries		 and Expenses 240.4 227.1
Administration
Building		 Costs 63.8 50.4
Chaplaincy
Costs		 0.0 0.0
Governance 25.4 29.4
Other Support Costs 28.4 26.4
401 3 3807
7 Governance Costs Total Total
2023 2022
f000's f000's
Legal &Professional
Fees		 10.0 16.7
Auditor's
Remuneration		 10.1 8.3
Insurance 1.7 1.7
Other 3.6 2.7
25.4 29.4
8 Net income / (expenditure)
for the year		 Total
2023		 Total
2022
f000's f000's
Net income/(expenditure) for the year is stated after (charging) / crediting:
Depreciation oftangible fixed assets (186.5) (172.8)
Profit on sale ofinvestment property 0.0 79.3
Loss on fair value movement of investment property 0.0 (989.9)
Profit / (loss) on fair value movement of investments (1,532.7) 62.6

The average
monthly
number ofemployees
and full
follows:-		 time equivalent
(FTE) during
the ye		 ar was as
2023 2023 2022 2022
Average Number ofEmployees Average FTE Average FTE
Raising funds
Charitable
activities
Governance
The total staff costs and employee benefit's was as follows: 2023 2022
f000's $000's
Gross Wages 221.9 199.8
NI Contributions 23.2 20.2
Pension Contributions 33.8 30.8
278.9 250.8
Agency Staff 29.3 46.7
308.2 297.5

Operational
B~uildin Construction &E&Eu&iment Total
6000's 6000's a000's
Cost at 31st March 2022 15,155.4 180.1 299.6 15,635.1
Additions 0.0 2,964.3 0.0 2,964.3
Transfers 507.6 (507.6) 0.0 0.0
Disposals 274.1) 0.0 (12.6 (286.7)
Cost at 31st March 2023 15,388.9 2,636.8 287.0 18,312.7
Depreciation at 31stMarch 2022 7,705.3 0.0 295.9 8,001.2
Charge for year 183.1 0.0 3.4 186.5
Disposals (274.1 0.0 (12.6 (286.7)
Depreciation at 31st March 2023 7,614.3 0.0 286.7 7,901.0
Net Book Value at 31stMarch 2023 7,774.6 2 636.8 0.3 10411.7
Net Book Value at 31stMarch 2022 7,450.1 180.1 3.7 7,633.9
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f,000's f000's
14 Debtors
Rents Receivable 14.4 31.0
Prepayments
and Accrued Income		 21.7 38.3
36.1 69.3
2023 2022
f000's f000's
15 Creditors
Trade Creditors 47.6 46.9
Accruals and Deferred Income 755.3 271.6
802.9 318.5
2023 2022
f.000's f000's
16 Long Term Liabilities
Tyne and Wear Pension Fund shortfall payments
2023 2022
17 Deferred income f000's f000's
At 31March 2022 87.7 154.4
Additions during the year 450.7 524.4
Amounts released to income (479.0) (591.1)
At 31March 2023 59.4 87.7
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As ar 31 March 2023
Unrestricted Designated Restricted Endowment Total
f000 f000 f000 f000 f000
Fixed assets 0.0 10,411.7 0.0 31,662.8 42,074.5
Cash and current asset investments 561.8 1,628.5 0.0 551.2 2,741.5
Other current assets/liabilites (61.8) (506.1) 0.0 (198.8) (766.7)
Creditors due in more than one year 0.0 0.0 0.0 0.0 0.0
500.0 11,534.1 0.0 32,015.2 44,049.3
As ar31/tfarch 2022
Unrestricted Designated Restricted Endowment Total
f000 f000 f000 f000 f000
Fixed assets 0.0 7,633.9 0.0 33,295.2 40,929.1
Cash and current asset investments 572.7 3,476.9 0.0 502.7 4,552.3
Other current assets/liabilites (72.7) (23.7) 0.0 (152.8) (249.2)
Creditors due in more than one year 0.0 0.0 0.0 0.0 0.0
500.0 11,087.1 0.0 33645.1 45
32.2