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|||Page|
|---|---|---|
|Trustees Report||1-8|
|Independent
Auditors'|Report|9- 12|
|Statement ofFinancial|Activities|13|
|Balance Sheet||14|
|Statement ofCash Flows||15|
|Notes to the Financial|Statements|16-28|
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|In 2022, we had a lot ofcelebration:|In 2022, we had a lot ofcelebration:||||
|---|---|---|---|---|
|Baptism|1s Holy|Confirmation|Wedding|Funeral|
||Communion||||
|145|210|185||170|
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|Reference|and administration|and administration|details|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Trustees||||FrRichard Mway|SDS,Provincial||||and Chair|||
|||||Fr Michael Doherty||SDS,Vicar||provincial||and Bursar||
|||||Fr Paul Harris SDS,||Consultor||||||
|||||Fr Thomas Malal Muchail SDS,||||Consultor||(appointed|18January 2023)|
|||||Fr Henry Nevin SDS, Consultor||||(resigned||18January|2023)|
|Provincial|Office|||191High Road||||||||
|||||Harrow Weald||||||||
|||||Middlesex||||||||
|||||HA3 5EE||||||||
|Charity Registration||No||231410||||||||
|Financial|Accountant|to the Trustees||Evolve Accounting||and|Tax Solutions Ltd|||||
|||||Congress House,||||||||
|||||14Lyon Road||||||||
|||||Harrow,||||||||
|||||HA1 2EN||||||||
|Investment|Advisors|||BlackRock Investment|||Managers|||||
|||||33King Williams|Street|||||||
|||||London||||||||
|||||EC4R 9AS||||||||
|Auditors||||UHY Hacker Young||||||||
|||||Quadrant
House||||||||
|||||4 Thomas More Square||||||||
|||||London||||||||
|||||E1W 1YW||||||||
|Principal Banker||||Royal Bank ofScotland
1"Floor Houblon House||||||||
|||||62-63 Threadneedle||St||||||
|||||London||||||||
|||||EC2R 8HP||||||||
|Solicitors||||Stone King LLP||||||||
|||||16StJohn's Lane||||||||
|||||London||||||||
|||||EC1M4BS||||||||
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|||||||||Total|Total|
|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|Funds|Funds|
|||||||Funds|Funds|2022|2021|
||||||Note|||||
|Income and endowments|||from:|||||||
|Parish collections|||||||164,426|164,426|145,762|
|Priests' salaries,||pensions||and pastoral|offerings|135,642|635|136,277|158,169|
|Donations
and legacies||||||66,584|96,296|162,880|156,397|
|Investments||||||142,198||142,198|153,664|
|Other||||||8,499|19,807|28,306|29,442|
|Total||||||352,923|281,164|634,087|643,434|
|Expenditure
on:||||||||||
|Charitable
activities|||||4 (ak b)|(433,438)|(258,940)|(692,378)|(742,391)|
|Other expenditure|||||5||||(30,756)|
|Total||||||(433,438)|(258,940)|(692,378)|(773,147)|
|Net expenditure||||||(80,515)|22,224|(58,291)|(129,713)|
|Other recognised|gains/(losses):|||||||||
|Net gains/(losses)||on investments|||10|111,721||111,721|287,470|
|Net movement
in|funds|||||31,206|22,224|53,430|157,757|
|Reconciliation
offunds:||||||||||
|Total funds brought||forward||||5,653,864|237,241|5,891,105|5,733,348|
|Total funds carried|forward|||||5,685,070|259,465|5,944,535|5,891,105|
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||||2022||2021|
|---|---|---|---|---|---|
||Note|||||
|Fixed assets||||||
|Tangible assets|9||867,401||1,042,312|
|Investments|10||4,842,674||4,568,085|
||||5,710,075||5,610,397|
|Current
assets||||||
|Debtors||68,611||45,035||
|Cash at bank and in hand||451,844||565,550||
|Net current assets||||||
|||520,455||610,585||
|Creditors: Liabilities falling due||||||
|within
one year|12|(81,973)||(125,855)||
|Total assets less current liabilities|||438,482||484,730|
|Provision for liabilities|17||(204,022)||(204,022)|
|Total net assets|||5,944,535||5,891,105|
|The funds ofthe charity:||||||
|Unrestricted
funds||||||
|- General funds|||4,571,637||4,532,487|
|-Designated
fund|14||1,113,433||1,121,377|
||||5,685,070||5,653,864|
|Restricted funds|15||259,465||237,241|
||||5,944,535||5,891,105|
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|||||2022|2021|
|---|---|---|---|---|---|
||||Notes|||
|Cash flows from operating
activities||||||
|Net cash used in operating
activities|||(A)|(255,904)|(310,401)|
|Cash flows from investing
activities||||||
|Dividends,
interest and rents from investments||||142,198|153,664|
|Net cash provided
by investing
activities||||142,198|153,664|
|Net movement
in cash||||(113,706)|(156,737)|
|(A) Reconciliation
ofnet income/(expenditure)||to net cash|flow from|operating
activities||
|Net income/(expenditure)
for the reporting|period|||||
|(as per the statement offinancial activities)||||53,430|157,757|
|Adjustments
for:||||||
|Depreciation||||12,044|16,014|
|(Gains)/losses
on investments||||(111,721)|(287,470)|
|Dividends,
interest and rents from investments||||(142,198)|(153,664)|
|Decrease/(increase)
in debtors||||(23,576)|9,910|
|(Decrease)/increase
in creditors||||(43,882)|(52,948)|
|Net cash used in operating
activities||||(255,904)|(310,401)|
|(B)Analysis ofchanges in cash balances|during|the year||||
|Cash and deposits
1January 2022||||565,550|722,287|
|Cash and deposits 31December 2022||||451,844|565,550|
|Decrease in cash||||(113,706)|(156,737)|
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|||||||Total|Total|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Funds|Funds|
|||||Funds|Funds|2022|2021|
|2.|Investment|income||||||
||Rental income from investment||properties|97,763||97,763|100,950|
||Dividends|received||43,515||43,515|52,317|
||Bank interest received|||920||920|397|
|||||142,198||142,198|153,664|
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|5.|Other expenditure|Other expenditure|2022|2021|
|---|---|---|---|---|
||Compensation|Claim||30,756|
|||||30,756|
##
|Staffcosts and numbers|2022|2021|
|---|---|---|
|Salaries|69,215|87,770|
|Social security costs|732|4,753|
|Pension costs|2,919|3,229|
||72,866|95,752|
|equivalents,
w|as as|follows:||||
|---|---|---|---|---|---|
|||||2022|2021|
|||||Number|Number|
|Administration|and|support|staff|4|6|
##
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##
|Tangible fixed assets||Freehold|
|---|---|---|
|||land and|
|||buildings|
|Cost|||
|As at 1 January 2022||1,237,139|
|Reclassification
to investment|property|(198,518)|
|As at 31December 2022||1,038,621|
|Depreciation|||
|As at 1 January 2022||194,827|
|Charge for the year||12,044|
|Eliminated
on reclassification||(35,651)|
|As at 31December 2022||171,220|
|Net book value|||
|As at 31December 2022||867,401|
|As at 31December 2021||1,042,312|
|Investments|||||
|---|---|---|---|---|
|||Investment|Managed||
|||properties|funds|Total|
|Fair value at 1 January 2022||1,679,750|2,888,335|4,568,085|
|Reclassifications|from freehold Land k Buildings|162,868||162,868|
|Revaluation
gain/(loss)||200,400|(88,679)|111,721|
|Fair value at 31|December 2022|2,043,018|2,799,656|4,842,674|
##
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##
||BlackRock|Charities UK Equity Fund|Charities UK Equity Fund|Charities UK Equity Fund|Charities UK Equity Fund|||96%|||
|---|---|---|---|---|---|---|---|---|---|---|
||BlackRock|Charities UK Bond Fund||||||4%|||
||Net gainsl(losses)||on investments||||||2022|2021|
||Revaluation|gain/(loss)||on managed|funds||||(88,679)|287,470|
||||||||||(88,679)|287,470|
|11.|Debtors||||||||2022|2021|
||Other debtors||||||||28,851|11,039|
||Accrued Income||||||||26,600|25,000|
||Prepayment||||||||13,160|8,996|
||||||||||68,611|45,035|
|12.|Liabilities:|amounts||falling due within||one||year|2022|2021|
||Other creditors||||||||38,563|66,580|
||Accruals||||||||43,410|59,275|
||||||||||81,973|125,855|
|13.|Financial|instruments|||||||||
||||||||||2022|2021|
||Carrying
amount||of|financial assets|||||||
||Debt instruments||measured
at amortised cost||||||507,295|601,589|
||Instruments|measured||at fair value through|||profit or loss||4,842,674|4,568,085|
||||||||||5,349,969|5,169,674|
||Carrying
amount||of|financial liabilities|||||||
||Other creditors||||||||(80,803)|(125,855)|
||||||||||5,269,166|5,043,819|
##
##
|14.|Designated|Designated|funds|||||||
|---|---|---|---|---|---|---|---|---|---|
|||||Opening|Transfer|Unrealised/|||Closing|
|||||balance|from|realised
gain/|Income|Expenses|balance|
||||||general funds|(losses)||||
||||||||||f.|
||Insurance|fund||1,121,377||(6,942)|451|(1,453)|1,113,433|
|||||1,121,377||(6,942)|451|(1,435)|1,113,433|
##
|||Opening|||Closing|
|---|---|---|---|---|---|
|||balance|Income|Expenses|balance|
|The Mission|fund|(3,745)|74,180|(81,791)|(11,356)|
|The Philangeli
fund||1,177|||1,177|
|StJoseph's|Parish|236,871|206,983|(176,649)|267,205|
|StAnthony|Poor Fund|2,938||(500)|2,438|
|||237,241|281,163|(258,940)|259,464|
##
##
##
|16.|Analysis o|fnet assets betwe|en
funds||||
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted||
|||||funds|funds|Total|
||Tangible fixed assets|||631,908|235,493|867,401|
||Investments|||4,842,674||4,842,674|
||Current assets|||494,405|26,050|520,455|
||Current
liabilities|||(81,064)|(909)|(81,973)|
||Provisions|||(204,022)||(204,022)|
|||||5,683,901|260,634|5,944,535|
|17.|Provisions|for liabilities|||2022|2021|
||Provisions|for compensation|claims||204,022|204,022|
##
##
##
##
|19.
Comparative|State|me|nt ofFinancial Activities||||
|---|---|---|---|---|---|---|
|||||||Total|
|||||Unrestricted|Restricted|Funds|
|||||Funds|Funds|2021|
|Income and endowments||from:|||||
|Parish collections|||||145,762|145,762|
|Priests' salaries,|pensions||and pastoral offerings|157,444|725|158,169|
|Donations
and legacies||||32,607|123,790|156,397|
|Investments||||153,664||153,664|
|Other||||16,392|13,050|29,442|
|Total||||360,107|283,327|643,434|
|Expenditure
on:|||||||
|Charitable
activities||||(416,107)|(326,284)|(742,391)|
|Other expenditure||||(30,756)|-|(30,756)|
|Total||||(446,863)|(326,284)|(773,147)|
|Net expenditure||||(86,756)|(42,957)|(129,713)|
|Transfers between|funds|||(240,555)|240,555||
|Other recognised|losses||||||
|Net loss on investment||||287,470||287,470|
|||||(39,841)|197,598|157,757|
|Reconciliation
offunds:|||||||
|Total funds brought|forward|||5,693,705|39,643|5,733,348|
|Total funds carried|forward|||5,653,864|237,241|5,891,105|