2021-12-31-accounts - The Sisters Of Providence (Rosminian)

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			Page
Reference	and Administrative Details
Trustees'	Report	2	to	13
Statement	ofTrustees' Responsibgities		14
Report of	the Independent Auditors	15	to	18
Statement	of Finandal Activities		19
Balance Sheet			20
Cash Flow	Statement		21
Notes to the Cash Flow Statement			22
Notes to the Financial statements		23	to	35

							2021	2020
				Unrestricted	Unrestricted	Restricted	Total	Total
				-Designated	-General	- India	funds	funds
			Notes	6	6	6	6	6
INCOME AND ENDOWMENTS
FROM
Donations and legacies			2		630		630	9,550
Charitable activities			4
Support of members		ofthe
religious order					364,733		364,733	516,401
Investment income				17,597	78,358		95,955	86,634
Other income								306,304
Total				17,597	443,721		461,318	918,8$9
EXPENDITURE ON
Raising funds			6	116,220			116,220	96,629
Charitable activities
Support of members		ofthe
religious order				39,531	382,006		421,537	442,650
Grants and donations		paid		142,455	53,382		195,837	283,350
Total				29$,206	435,388		733,594	822,629
Net gains on investments				1,336,762			1,336,762	1,200,299
NET INCOME				1,056,153	8,333		1,064,486	1,296,559
Transfers between funds			17	110,000	(145,057)	35,057
Net movement in funds				1,166,153	(136,724)	35,057	1,064,486	1,296,559
RECONCIUATION OF		FUNDS
Total funds brought	forward			19,762,535	632,289		20,394,$24	19,09$,265
TOTAL FUNDS CARRIED
FORWARD			20,928,688		495,565	35,057	21,459,310	20,394,824

					2021	2020
		Unrestricted	Unrestricted	Restricted	Tota I	Total
		- Designated	-General	- India	funds	funds
	Notes		6	E	6	6
FIXEDASSETS
Tangible assets Investments	12	7,532,865	50,416		7583281	7 636251
Investments Investment property	13 14	12,730,823 665,000			12,730,823 665,000	11,525,138 665,000
		20,928,688	50,416		20,979,104	19,826,389
CURRENT ASSETS
Debtors Cash at bank and in hand	15		15,881 456,862	35,057	15,881 491,919	16,289 581,597
			472,743	35,057	507,800	597,886
CREDITORS
Amounts falling due within one
year	16		(27,594)		(27,594)	(29,451)
NET CURRENT ASSETS			445,149	35,057	480,206	568,435
TOTAL ASSETSLESSCURRENT
LIABILITIES		20,928,688	495,565	35,057	21,459,310	20,394,824
NET ASSETS		20,928,688	495,565	35,057	21,459,310	20,394,824
FUNDS	17
Unrestricted funds Restricted funds					21,424,253 35,057	20,394,824
TOTALFUNDS					21,459,310	i0,394,824

CASH SLOW STATEMENT FORTHE YEAR ENDED 31	DECEMBER	2021
			2021	2020
		Notes	6	6
Cash flows from operating	activities
Cash generated from operations			(298,747)	(228,341)
interest paid			(315)	(301)
Net cash used in operating	activities		(299,062)	(228,642)
Cash flows from Investing	activities
Purchase oftangible fixed assets Purchase offixed asset investments			(18,185,420)	(3,917) (19,486,385)
Saleoftangible fixed assets Saleoffixed asset investments			18,316,497	414,857 19,338,936
Dividends received			78,307	64,892
Net cash provided by investing activities			209,384	328,383
Change in cash and cash reporting period	equivalents	In the	(89,678)	99,741
Cash and cash equivalents ofthe reporting period	atthe beginning		581,597	481,856
Cash and cash equivalents the reporting period	at the end	of	491,919	58,597

RECONCILIATION OF	NET INCOME TO NET CASH FLOW FROM OPERATING	ACflVITIES
		2021	2020
		6	E
Net income for the reporting period (as per the Statement of Finanrtal
Activities)		1,064,486	1,296,559
Adjustments for:
Depreciation charges		52,970	47,798
Gain on investments		(1,336,762)	(1,200,299)
Profit on disposal of	fixed assets		(294,878)
Interest paid		315	301
Dividends received		(78,307)	(64,892)
Decrease/(increase)	in debtors	408	(16,289)
(Decrease)/increase	in creditors	(1,857)	3,359
Net cash used in operas)ons		(298,747)	(228,341)

	At 1.1.21	Cash flow	At31.12.21
	6	6	6
Net cash
Cash at bank and in hand	581,597	(89,678)	491,919
	581,597	~89,678)	491,919
Total	581,597	(89,678)	491,919

DONATIONS AND	LEGACIES
			2021	2020
Donations			f 630	6 9,550
INVESTMENT INCOME
			7071	2020
Income from listed Interest receivable Rentalincome	investment		E 17,600 48 78,307	E 21,238 504 64,892
			95,955	86,634
INCOME FROM CHARITABLE ACTIVITIES
			2021	2020
Salary and pension income Exchange rate (loss)/gain		Activity Support ofmembers ofthe religious order Support of members ofthe religious order	6 375,820 (11,087)	6 508,105 8,296
			364,733	516,401

NOTES	TO THE FINANCIAL STATEMENTS -continued	TO THE FINANCIAL STATEMENTS -continued
FORTHE YEAR ENDED 31DECEMBER 2021
5.	OTHER INCOME		2021	2020
			E	E
	Gain on sale of tangible fixed assets Otherincome			294,878 11,426
				306,304
6.	RAISING FUNDS
	Investment management costs		2021	2020
			E	E
	Investment management costs		116,220	96,629
7.	CHARITABLE ACTIVITIES COSTS			Direct
				Costs (see
				note 8)
				E
	Support of members ofthe religious order Grants and donations paid			421,537 195,837
				617,374
	The grants and donations payable during	the year were as follows;	2021	1020
			E	E
	aursarles paid to Loughborough Amherst School Transfer toTanzania -School guildmg project Transfer toTanzania - Fund expenses during covlD-19 pandemic Transfer to Tanzania - New convent and nursery project in ujombe Rent donation to Loughborough Amherst School Donations less than E1,000each		110,000 23,455 9,000 42,989 10,393	110,000 65,000 12,000 50,000 34,958 11,392
			195,837	283,350

DIRECT COSTSOF CHARITABLE ACTIVITIES
	2021	2020
Staff costs Auditors' remuneration Auditors remuneration- Hon audit Rates and water Insurance Light and heat Telephone Postage and stationery Legal and professional fees Sundries	E 179,522 24,564 1,373 7,682 19,237 18,657 3,422 2,330	E 181,574 23,394 1,701 8,549 4,529 20,546 3,821 2,846 7,213
Donations Grant funding ofactivities Household expenses Personal needs Motor expenses Travelling Repairs and maintenance Depreciation Interest payable and similar charges	8,208 85,837 110,000 57,338 27,262 1,907 1,883 14,867 52,970 315	8,435 172,942 110,000 62,951 24,599 2,537 3,045 39,219 47,798 301
	617,374	726,000

COMPARATIVES FORTHE STATEMENT OF	COMPARATIVES FORTHE STATEMENT OF	FINANCIAL ACTIVITIES
		Unrestricted	Unrestricted	Restricted	Total
		-Designated	-General	- India	funds
		6	6	E	6
INCOME AND ENDOWMENTS Donations and legacies	FROM		9,550		9,550
Charitable activities Support of members ofthe religious order			516,401		516,401
Investment income Otherincorne		21,485 294,290	65,149 12,014		86,634 306,304
Total		315,775	603,114		918,889
EXPENDITURE ON Raising funds		96,629			96,629
Charitable activities Support of members ofthe religious order Grants and donations paid		29,057 237,409	413,593 45,941		442,650 283,350
Total		363,095	459,534		822,629
Net gains on investments		1,200,299			1,200,299
NET INCOME		1,152,979	143,580		1,296,559
Transfers between funds		47,048	(47,048)
Net movement In funds		1,200,027	96,532		1,296,559
RECONCIUATION OF FUNDS
Total funds brought forward		18,562,508	535,757		19,098,265
TOTAL FUNDS CARRIED FORWARD		19,762,535	632,289		20,394,824

FORT	HE YEAR ENDED 31DECEMBER 2021
13.	FIXEDASSET INVESTMENTS -continued
	The investment assets are held: In the UK Outside the UK	11,862,710 618,236	249,877	12,112,587 618,236
		12,411 941	249,877	12,719,821
	Historical cost: At 31 December 2021	11,502,612	249,877	11,752,489
	At 31 December 2020	10,146,591	272,700	10,419,291

	Cost or valuation at 31 December 2021is repr	esented by:
			Cash and
		Listed	settlements
		investments	pending	Totals
		E	E	E
	Valuation in 2021	12,480,946	249,877	12,730,823
14.	INVESTMENT PROPERTY
	FAIR VALUE
	At 1January 2021			665,000
	and 31December 2021
	NET BOOK VALUE			665,000
	At 31 December 2021
				665,000
	At31 December 2020

15.	DEBTORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
				2021	2020
	Prepayments and accrued mcome			f	f
				15,881	16,289
16.	CREDITORS:AMOUNTS	FALLING DUE WITHIN ONE YEAR
	Soaal security and other taxes			2021 f	2020 f
	Other creditors			2,545	2,235
	Accrued expenses			484	3,822
				24,565	23,394
				27,594	29,451
7.	MOVEMENT IN FUNDS
			Net	Transfers
	Unrestricted funds	At 1.1.21 f	movement in funds f	between funds f	At 31.12.21 f
	General fund Fixed Asset Fund Scholarship Fund Retirement Fund	632,289 8,237,397 2,555,999 8,969,139	8,333 (39,531) (109,999) 1,205,683	(145,057) 110,000	495,565 8,197,866 2,556,000 10,174,822
	Restricted funds	20,394,824	1,064,486	(35,057)	21,424,253
	India fund
				35,057	35,057
	TOTALFUNDS	20.384.824	1,062486		21,459,310

		Incoming	Resources	Gains and	Movement
Unrestricted	funds	resources f	expended f	losses f	in funds f
General fund
Fixed Asset Scholarship Retirement	Fund Fund Fund	443,721 1 17,596	(435,388) (39,531) (110,000) (148,675)	1,336,762	8,333 (39,531) (109,999) 1,205,683
		461,318	(733,594)	1,336,762	1,064,486
TOTAL FUNDS		461,318	(733,594)	1,336,762	1,064,486

Comparatives	nds
		Net	Transfers
		movement	between	At
	At 1.1.20 E	in funds 6	funds E	31.12.20 f
Unrestricted funds General fund Fixed Asset Fund Scholarship Fund Retirement Fund	535,757 8,385,117 2,556,000 7,621,391	143,580 265,233 (220,001) 1,107,747	(47,048) (412,953) 220,000 240,001	632,289 8,237,397 2,555,999 8,969,139
	19,098,265	1,296,559		20,394,824
TOTAL FUNDS	19,098,265	1,296,559		20,394,824

Comparative net movement ln fund	s, included in the above are	as oows:
	Incommg resources	Resources expended	Gains and losses	Movement in funds
	6	E	E	E
Unrestricted funds General fund Fixed Asset Fund Scholarship Fund	603,114 294,290	(459,534) (29p057) (220,001)		143,580 265,233 (220,001) I1107,747
Retirement Fund
TOTAL FUNDS

A current yea	r year 12months comne
		Net	Transfers
		movement	between	At
	At 1.1.20	in funds	funds	31.12.21
	E	E	E	E
Unrestricted funds General fund Fixed Asset Fund Scholarship Fund Retirement Fund	535,757 8,385,117 2,556,000 7,621,391	151,913 225,702 (330,000) 2,313,430	(192,105) (412,953) 330,000 240,001	495,565 8,197,866 2,556,000 10,174,822
	19,098,265	2,361,045	(35,057)	21,424,253
Restricted funds			35,057	35,057
India fund
TOTAL FUNDS	19,098,265	2,361,045		21,459,310

		2021	2020
				f
Financial assets atfair value through Listed investments	Income and expenditure	12,480,946	11,252,438