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|CONTENTS||PAGE|
|---|---|---|
|Trustees'
Annual Report|||
|Statement ofTrustees'|Responsibilities||
|Independent
Auditors'|Report to the Trustees|6-9|
|Statement ofFinancial|Activities|10|
|Balance Sheet|||
|Statement ofCash Flows||12|
|Notes to the Financial|Statements|13-17|
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||||Unrestricted|Restricted|2022|2021|
|---|---|---|---|---|---|---|
|||Note|||||
|Income and endowments|||||||
|Legacies|||84,221||84/21|3,034|
|Donations|||11,950||11,950|12,574|
|Investment
income|||265,958|62,008|327,966|295,838|
|Total income and endowments|||362,129|62,008|424,137|311,446|
|Expenditure|||||||
|Expenditure
on raising funds||2|58,034|6,441|64,475|39,203|
|Expenditure
on charitable|activities|3|307,013||307,013|251,373|
|Other expenditure
Retirement
benefits|||7333||7,333|7,333|
|Total expenditure|||372,380|6,441|378,821|297,909|
|Net gains (losses) on investments|||(270,936)|(68,419)|(339,355)|697,402|
|Net income (expenditure)|||(281,187)|(12,852)|(294,039)|710,939|
|Transfers between Funds|||55,567|(55,567)|||
|Net movements
in funds|||(225,620)|(68,419)|(294,039)|710,939|
|Reconciliation
ofFunds|||||||
|Total Funds brought
forward|||7,139,404|1,685,894|8,825,298|8,114,359|
|TOTAL FUNDS CARRIED FORWARD|||6,913,784|1,617,475|8,531,259|8,825/98|
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|31DECEMBER 2022||||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|2022|2021|
||Note|||||
|FIXEDASSETS||||||
|Tangible fixed assets
Investments|6
10|14,000
6,612,809|1,600,235|14,000
8,213,044|14,000
8,579,513|
|Total Fixed Assets||6,626,809|1,600,235|8,227,044|8,593,513|
|CURRENT ASSETS||||||
|Debtors||5,800||5,800|30,082|
|Cash at bank||342,942||342,942|234,854|
|Total current assets||348,742||348,742|264,936|
|LIABILITIES||||||
|Creditors||(44,527)||(44,527)|(33,151)|
|Interfund
balance||(17,240)|17,240|||
|NET CURRENT ASSETS||286,975|17,240|304,215|231,785|
|NET ASSETS||6,913,784|1,617,475|8,531,259|8,825,298|
|FUNDS||||||
|Restricted income funds|||1,617,475|1,617,475|1,685,894|
|Unrestricted
income funds:||||||
|Designated
General||138,910
6,774,874||138,910
6,774,874|166,153
6,973,251|
|TOTAL CHARITY FUNDS||6,913,784|1,617,475|8,531,259|8,825,298|
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||||||2022|2021|
|---|---|---|---|---|---|---|
|||||||f,|
|Net cash used in operating
activities|||||(246,992)|(250,965)|
|Cash flowsPom
investing|activities:||||||
|Investment
income|||||327,966|295,838|
|Proceeds &om sale ofinvestments|||||1,153,734|524,054|
|Decrease (increase) in uninvested|||cash||50,156|(161,179)|
|Purchase ofinvestments|||||(1,176,776)|(506,439)|
|Net cash provided
by investing||activities|||355,080|152,274|
|Change in cash and cash|equivalents|||in the year|108,088|(98,691)|
|Cash and cash equivalents|brought||forward||234,854|333,545|
|Cash and cash equivalents|carried forward||||342,942|234,854|
|Reconciliation
ofnet movement|||in funds to net cash||||
|flow from operating
activities|||||||
||||||2022|2021|
|Net movement
in funds|||||(294,039)|710,939|
|Deduct investment
income|||||(327,966)|(295,838)|
|Deduct gains / add back capital losses on investments|||||339,355|(697,402)|
|Decrease in debtors|||||24,282|22,548|
|Increase in creditors|||||11,376|8,788|
|Net cash used in operating|activities||||(246,992)|(250,965)|
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|2.
EXPENDITURE ON RAISING|||||
|---|---|---|---|---|
|FUNDS|Unrestricted|Restricted|2022|2021|
|Advertising,
printing
and postage
Property rental costs
investment
management
costs|395
36,933
20,706|6,441|395
36,933
27,147|995
6,788
31,419|
||58,034|6,441|64,475|39,203|
|3. EXPENDITURE ON CHARITABLE|||||
|ACTIVITIES|Unrestricted|Restricted|2022|2021|
|Grants made (note 4)
Other and general expenses
Audit|211,066
80,092
10,368||211,066
80,092
10,368|170,215
69,973
9,600|
|Upkeep of Master|5,487||5,487|1,585|
||307,013||307,013|251,373|
|4.
GRANTS MADE|Unrestricted|Restricted|2022|2021|
|Rural and inner-city parishes
Falklands
Prefecture|55,566
10,000||55,566
10,000|106,000
5,000|
|Ordinariate
ofOur Lady ofWalsingham
Celebrate Trust|10,000
5,000||10,000
5,000||
|Art ofDying Well (St Mary's University)
Catholic Student Network|5,000
7,000||5,000
7,000|5,000|
|Catholic Voices|12,000||12,000|10,000|
|Saint Bernadette's
Relic Tour|50,000||50,000||
|Walsingham
Trust
National
Shrine ofOur Lady ofWalsingham
Pontifical Beda College
Westminster
Cathedral
(music)
Catholic Man UK|25,000
10,000
11,000
9,000||25,000
10,000
11,000
9,000|25,000
7,215
2,000|
|Our Lady ofthe Taper
Other Dowry Grants|1,500||1,500|10,000|
||211,066||211066|170215|
|5. RETIREMENT BENEFITS|Unrestricted|Restricted|2022|2021|
|During the year annuities
were paid totalling
(see notes 12and 13)|7,333||7,333|7,333|
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|6. TANGIBLE FIXED ASSETS|Freehold|Fixtures A||
|---|---|---|---|
||Property|Fittings|Total|
|COST||||
|Opening|14,000||14,000|
|Closing balance|14,000||14,000|
|DEPRECIATION||||
|Opening balance||||
|Closing balance||||
|NET BOOKVALUE||||
|At 31December 2022|14,000||14,000|
|At 31December 2021|14,000||14,000|
|7. DEBTORS||||
|||2022|2021|
|Legacies receivable|||30,000|
|Prepayments||5,800|82|
|||5,800|30,082|
|8. CREDITORS||||
|||2022|2021|
|Accruals and deferred income||44,527|33,151|
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|0INVESTMENTS||||
|---|---|---|---|
|.||2022|2021|
|Fair value at start ofyear
Additions
at cost||8,579,513
1,176,776|7,738,547
506,439|
|Disposals at carrying value
Increase (decrease) in uninvested
Fair value gains (losses)|cash|(1,153,734)
(50,156)
(339,355)|(524,054)
161,179
697,402|
|Fair value at end ofyear||8,213,044|8,579,513|
|Reconciled tohistorical cost as follows:||||
|Cost ofinvestments
at end ofyear
Fair value surplus||7,156,372
1,056,672|7,183,486
1,396,027|
|Fair value at end ofyear||8,213,044|8,579,513|
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|1.ANALYS|IS OFNET|ASSETS BETWEEN|FUNDS|||
|---|---|---|---|---|---|
|||Tangible Fixed
Assets|Investments|Net Current
Assets|Total|
|Restricted Funds|||1,600,235|17,240|1,617,475|
|Unrestricted|Funds|14,000|6,612,809|286,975|6,913,784|
|||14,000|8,213,044|304,215|8,531,259|
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|4.ANALYSIS OF COM|PARATIVE|AMOUNTS|||
|---|---|---|---|---|
|||Unrestricted|Restricted|2021|
|Statement ofFinancial|Activities:||||
|Legacies||3,034||3,034|
|Donations||12,574||12,574|
|Investment
income||237,616|58,222|295,838|
|Expenditure
on raising funds||(39,203)||(39,203)|
|Expenditure
on charitable|activities|(251,373)||(251,373)|
|Retirement
benefits||(7,333)||(7,333)|
|Net gains (losses) on investments||558,271|139,131|697,402|
|Transfers between Funds||58,222|(58,222)||
|Net movements
in funds||571,808|139,131|710,939|
|Total Funds brought
forward||6,567,596|1,546,763|8,114,359|
|Total funds carried forward||7,139,404|1,685,894|8,825,298|
|Balance Sheet:|||||
|Tangible assets||14,000||14,000|
|Investments||6,902,271|1,677,242|8,579,513|
|Debtors||30,082||30,082|
|Cash at bank and in hand||234,854||234,854|
|Creditors falling due within one year||(33,151)||(33,151)|
|Intra fund balance||(8,652)|8,652||
|Total net assets||7,139,404|1,685,894|8,825,298|
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|Name ofRelated|Relationship|Transaction|2022|2021|
|---|---|---|---|---|
|Party|||||
|Mgr. John|Master|Expenses Float||30,000|
|Armitage|||||
|||Expenses incurred on Guild's|||
|||behalf/reimbursement||30,068|
|||Upkeep ofthe Master|5,487|1,585|
|||Year end amount
due to Master||68|
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