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2022-06-30-accounts

The Society of Catholic Medical Missionaries

Annual Report and Financial Statements For the period ended 30 June 2022

Charity Registration No: 232742

The Society of Catholic Medical Missionaries Annual Report of the Trustees For the 18 month period ended 30 June 2022

Legal and Administrative Details

Full name

The Society of Catholic Medical Missionaries (Commonly known as the Medical Mission Sisters-UK) Registration Number 232742

Medical Mission Sisters UK Trustees as of 30 June 2022

Chair of Trustees/Communications Trustee/Treasurer Trustee Trustee Trustee

Sister Lynne Rooker Sister Rita Syron Sister Marietta Natividad Sister Simone Herrmann Sister Jyoti Premika Kujur

MMS Society Coordinator

Sister Irene Gladdey Fernandez

Administration Address

109 Clitherow Avenue Hanwell London W7 2BL

Accountants

Moore Kingston Smith LLP The Shipping Building The Old Vinyl Factory Blyth Road Hayes, London UB3 1HA

Principal Bankers

The Cooperative Bank 14 New Broadway Ealing London W5 2XL

Solicitors

Hunters Law LLP 9 New Square Lincoln’s Inn London WC2A 3QN

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The Society of Catholic Medical Missionaries Annual Report of the Trustees For the 18 month period ended 30 June 2022

Structure, Governance and Management

The Society of Catholic Medical Missionaries (SCMM), known as the Medical Mission Sisters (MMS) is an international religious congregation of missionary sisters in the Catholic Church, founded in 1925.

The International Headquarters (Generalate) of the congregation is located in Acton, London, UK. There are 456 professed sisters around the world, of whom 19 are currently resident in the United Kingdom. The Congregation is governed by its own Constitution. The Congregation is divided into geographical regions, known as Units. One such Unit is Medical Mission Sisters UK.

The accounts accompanying this report are the accounts of the Charitable Trust in which the assets of Medical Mission Sisters UK are held. Charitable Trust Deed No.232742, dated 30[th] December 1963, governs the Trust. The accounts have been prepared in accordance with accounting standards and the Statement of Recommended Practice in “Accounting and Reporting by Charities” issued in March 2015.

Structure

Charitable Trust Deed No 232742, dated 30[th] December 1963, governs the Trust. The Trustees are appointed by the Society Coordinator (General Superior of the Congregation) from among Medical Mission Sisters in the UK who have appropriate qualities and skills. Charity Commission information is regularly downloaded and discussed by Trustees and staff members. Availability of suitable Medical Mission Sisters to become trustees is monitored by the Charity, as is the possibility of training and appointing of Trustees from outside Medical Mission Sisters.

Governance and management

The Trustees are responsible for the overall management of the Charity and for care of the Sisters. Trustees met and corresponded with each other at least once a month in 2022. Other sisters are co-opted to assist with publicity, fundraising for local and global mission communications and support of the sisters.

Training of Trustees and members

One Trustee is a member of the Conference of Religious for England and Wales as are other active members of the Unit. The Conference and the regional branch of the Conference is a helpful resource for advice and information.

During this period, the Trustee Treasurer and staff attended webinars on legal and financial matters organised by the he Association of Provincial Bursars, Moore Kingston Smith and others.

Other Medical Mission Sisters have attended conferences and webinars associated with their professions and individual involvements.

Objectives

The mission of the Society is to relieve suffering and promote health. Together with those whose lives are affected by sickness, poverty and other forms of social exclusion the sisters search for appropriate ways to relieve suffering and to transform situations that put the health and well-being of people and the planet at risk.

Public Benefit:

In planning and carrying out the activities of the Charity, the Trustees have had regard to guidance of the Charity Commission in regard to Public Benefit. Due to the pandemic and repeated lockdowns many charitable groups using volunteers were forced to suspend regular activities. When, for example, by the Government Policy “All In”, homeless people were moved from the streets and drop-in centres to hotels around the city, case workers and volunteers had to travel around to support them in their personal and health needs during the lockdowns. Without this dedicated support and encouragement many would not have persevered in strange hotels. Indeed some did not and had to be followed up on the streets.

2

Activities

Achievements and Performance

Care of the elderly sisters

The average age of the sisters in MMS-UK is 69, with a median age of 79 years. With age some of the sisters are becoming frailer, requiring more resources and time for their care. Sisters who are able assist elderly sisters with shopping and laundry and regularly visit those in sheltered housing and residential care according to the regulations of protection during the pandemic. At the end of 2022 six sisters resided in sheltered housing or similar low-cost accommodation. One sister was in a residential care home supported by the Medical Mission Sisters. Mobility aids are provided for sisters who need them.

Publicity, Fundraising for mission and Communications

The effectiveness of fundraising is decreasing because we no longer have many sisters able to do fundraising work. Many regular donors are ageing, and new donors are few. The end of mission appeals starting in 2020 meant no income from this source.

We are grateful to long-term donors who leave us a legacy in their will. It is a blessing that the mission of health and healing is helped in this way.

Social Justice, Peace and Environmental networking.

Sisters network with Justice, Peace, Environmental and Interfaith organisations, joining them in endeavours to work for a more just and peaceful world. They do this by joining local peace and justice groups, by correspondence and by joining in peaceful demonstrations to help create awareness of the various issues. Organisations with whom we network with are CAFOD, National Justice and Peace Network, Anti-Human Trafficking networks, Jesuit Refugee Services, Pax Christi and Climate Change Coalition.

Activities in UK

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Impact of the involvements of the sisters:

One sister has continued to work throughout the pandemic in the NHS in a very busy A&E department. Homeless people are sometimes not well understood and doctors and nurses have difficulty in relating and managing them. As well as her major duties, our sister has been commissioned to develop a ground network of other homeless services such as GP surgeries, day centres, alcohol and drug services with the goal of better coordination and cooperation across the board. Leaflets for her colleagues help to sign-post patients to appropriate services. She has a regular programme of holistic teaching on these issues and is often asked to advise in the management of difficult cases. All of this eases the difficulties of colleagues and helps patients on the road to better and safer care.

Journeying with those who are sleeping rough on the streets needs courage and perseverance. The sisters always work with reliable Charities, for example Hope for Southall Street Homeless and NGOs such as St.Mungo's. During the pandemic, day drop-in centres and night shelters were closed but the sisters saw to the needs of homeless people in hotels and participated in counts of rough sleepers at night.

Our sisters of Indian background work with homeless people, some of whom are failed asylum seekers. Language and a knowledge of culture is vital to helping clients to decide what is best for them. Some have been reconnected with their families and have returned home. Help is often needed regarding legal and immigration issues. This involvement has an impact when clients gradually get on to the road to legal status, or, to recovering from addiction and ill health and hopefully a normal life.

Much of the work the sisters do is being present to people who are sick or elderly, homeless or otherwise in difficult circumstances. Sometimes all that is needed is a chat, laugh and reminiscing over old times The sisters’ listening and caring is certainly greatly appreciated. Sometimes they are able to help people to contact other services which may be available to them. Where this is not possible they accompany people in their difficulties, helping them to cope: As with many other activities impact is measured not only in statistics but also in the quality of relationships and understanding that grow between people. During the pandemic this presence to people becomes more important because of isolation and lockdowns.

We engage in activities for social justice and the environment because of the dignity of each person and the gift of creation, our common home. Petitions, letter writing and meetings have resulted in major growth of awareness, legal developments in human rights and climate issues. We have contributed to these results, albeit in a small way.

Some Major Risk factors for MMS-UK

The trustees have assessed the major risks to which the charity is exposed and have established effective systems to mitigate those risks:

Ageing and decreasing of membership.

Young members of the charity are in the process of increasing their work with the younger generation to encourage new members.

Decreasing income is a combined result of diminishing membership and number of donors, and the present economic climate.

Sisters try to find new ways of fundraising and making the cause known. Every effort was made to attract donors and to control costs.

Trustees restructured the investment policy and relocated some of the funds to generate more income.

Future plans and activities

Given the age structure of the Membership, the Trustees have continued to affirm the sisters in their various charitable works and foresee that the sisters will continue in these ministries according to their health and energy, as the pandemic allows. The Trustees appreciate the fact that the sisters are a healing presence to people and to one another even when their activities are very limited.

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The Trustees continue work on the process of merging with the Generalate’s charity into the new legal structure Society of Catholic Medical Missionaries CIO. There is a plan in place to finalise the merge by the end of 2023.

The legal work required for the merging process is being managed by the legal company Stoneking, who have considerable experience in this type of process.

Financial Report for 18 months to June 2022

A summary of the period’s results can be found on page ____10 of the accounts.

The Charity’s total incoming resources for 18 months 2021-2022 amounted to £366,191 compared to £325,130 in 2020. Main sources of income were donations, subsidy from the Society’s Generalate to support older Sisters and remuneration of two Sisters.

Resources expended during 2021-2022 from the General Fund were £184,886 which included the donation to overseas mission of the General Assembly. The Trustees acknowledge the ongoing support cost of Sisters in Residential care of £74,828. In 2021-2022 total resources expended were £259,714.

The Society has no unpaid volunteers and received no donations in kind.

Financial position

The balance sheet shows total assets of £1,403,567. Fixed assets are tangible assets of £302,445 and investments of £153,988. Net current assets are £900,048.

Fund balances

General fund is £949,688 (of which £456,433 are tangible assets).

The Reserve fund is £250,000. This designated fund is a sufficient amount to cover the support and work of the sisters in England. It can be used by decisions of the Trustees to assist cash flow when necessary. If used, it is to be replenished from free reserves as they accumulate. The Fund has not been touched in 20212022. The state of the reserve fund is reviewed annually.

The Care Fund provides for the care needs of the elderly and sick sisters at home as well as in residential care. The Care Fund stands at £155,793 at the end of June 2022.

Reserves Policy

Medical Mission Sisters’ policy is not to hold large free reserves in any Unit but, if possible, to make available to the General Administration a portion of available cash to benefit needy areas of the Society in its missionary work around the world.

Free reserves are those funds which are over and above our liabilities and the designated funds. If special purpose funds are needed in the UK these may be set up by the Trustees from free reserves, after dialogue with the General Administration.

Use of free reserves

The Society of Catholic Medical Missionaries (MMS-UK) Charitable Trust aims to support the sisters in their religious life and in their charitable works. To this end the Trust has expended resources for the spiritual and material well-being of the sisters as they go about their ministries. The Trustees have also authorised donations to certain charities which have similar aims to our Trust and with which sisters may be working.

Risk Management

The Trustees, with the one staff member, have identified the major risks facing the Charity, in particular the financial, operational and compliance controls in order to mitigate the risks faced by the Charity. A risk management review is carried out in January each year and is documented in the risk register, which is available for the annual audit and to the insurance company.

During 2021-2022 attention was given to continue developing a Data Protection Policy. Guidelines received in 2020 regarding a Safeguarding Policy were developed in 2021-2022. Insurance premiums have been included in our insurance for Legal issues and Cybercrime and Fraud in 2021-2022.

Going concern

The trustees have considered the current economic situation and the impact this has had on the charity.

5

Th6re has not been a $lgnlficanl impgct on the costs of tre chaiity, though th8 level of donations ha8 been lower. Based on the Information avallable to Ihe dale of slgninq these ffnand81 xtatp.ments. grv•n tha oharlty'8 asset cash positbn. the tnL8tAAq do not belits￿ that th¢ ourront K￿n0[￿1G sliuafknn Inoicaies a significant uncertainty which may ¢a8t doubt upon tho chartty'8 ability to wnlinue In operation as a going concem for at least the n6xl 12 months from tha date of approval of th83e acGwnts. Ènt ern and the r authorl The Trusloès. byArticlg 3 (1) of tha Charltable Trust De8d, may°Invest ary money fomlng part of the Trust Fund by applying the same In the purchase of or at interest upon the s8(aJrity ol such stocks fvnds S￿￿￿tieS land bulldlngs chattels or other investments or propoty whatsoev8r nature and wherever xihjate and wh•lhor purDha?¢d for the proTJubrtpJn OT Incorne or tor capital appraciatkjn or for aehjal OC￿p￿￿On utte or onioymeni thereof as tho Trustees see flr. The Trustee8 are gulded by Fdlcles of the Medkal Mis81on Sl8lBr8 reganllng investments whith r8qulre Ihat nds be Investad In way$ which are ¢on31gtentwith Its nilssiufi Ihal Is"In Sol￿arity with thos8 madp. poor, wth the poworfesg and wlth Ihos¢ who arg oppressed.. T stg08' nBlb wlth re8 the Th¢ Trustee8 ar8 re5ponslble for preparing Ihe TrustAats' Annual Rgport and the finenGial statsniEnts In acCordar￿ wllh applicabl8 law and the United Klngdom Accountlng Standards (Unitod Klngdom Genernlly Accepted AcGoumting Pracb.(￿1 indudlng FRS 102 'The Financial Reporting Standard appllcable In the United lfjngdorn arKI Republlc of Irelaryl,. coju Th• law applimble tts Gharilies iii england and Ivaies requirÈs Irus188s tr) prepare finandal ￿aleMentS br each flnancial per￿￿ whlcm give a true and fair view of the Stale of Bffairs of the Charty and of inwming resouros and applicatlon of r8sourc86, including the Income and 8xp8nditure of the ch2nty for that period. In preparing the financial statements th9 truste85 am required lo_, 8vl¥bl sultsbl8 accounting practices and apply them consistonly,. Observa the methods and princlples In the ChariO68 SORP,. Make ludgemonts and estimate8 tbal 8re reasonable and prudent,. Stale whether applicable UK aCtrAiiinting 9tsndard8 have bccn followed subJeLI lo ary malerfal departures disclosed and explained in the finanrial gtalements. 8nd Prèpare the financial st8temants on th8 goirig eoncem basis unless It Is Inopproprlats to pr8sum8 that the charity will continua In bu61ness. Tho Thsiees are resDon8iblÈ fnr keeping propèr accounting rectsrd& whkh di¥b105e, bvtth r6asonable acLuracy 8t any tirna, the ffnallcial posillon of th8 Charity, and enable th8m to ensure Ih8t the accounts compty with Ih CharthesAct 2011. They are also responsible forlhe Safeguarding ofthe a￿ets of tho Charjty and, hen¢e. for th8 ta￿n9 of reasonable step8 for the d8teGtion and prevention of fraud and other irregularities. 'I"h8 Trustees wiqh In rocord tho profaetsion&li3m and dodIG&￿VI ol Ihelr staft mernber, who ig the Flnance Offieer. and Ihe irKlwidual members of the congregation. On beliaif ol tha Trusteos Lynn8 Rook•r Chalrof Th18t••s

The Society of Catholic Medical Missionaries Independent Auditor's Report to the Trustees of The Society of Catholic Medical Missionaries

Opinion

We have audited the financial statements of The Society of Catholic Medical Missionaries for the year ended 30 June 2022 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs(UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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The Society of Catholic Medical Missionaries Independent Auditor's Report to the Trustees of The Society of Catholic Medical Missionaries (Continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and the Trustees.

Our approach was as follows:

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The Society of Catholic Medical Missionaries Independent Auditor's Report to the Trustees of The Society of Catholic Medical Missionaries (Continued)

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud (continued)

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Chapter 3 of Part 8 of the Charities Act 2011. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charity and charity's trustees as a body, for our audit work, for this report, or for the opinion we have formed.

Moore Kingston Smith LLP

Chartered Accountants Statutory auditor

Moore Kingston Smith LLP 6th Floor 9 Appold Street London EC2A 2AP

Date: …………………..28 April 2023

Moore Kingston Smith LLP is eligible to act as auditor in terms of Section 1212 of the Companies Act 2006.

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The Society of Catholic Medical Missionaries Statement of Financial Activities For the period ended 30 June 2022

Other
General
Custodial Designated
Note
Fund
Fund
Reserves
£
£
£
Income from:
Donations and legacies
2
57,551
1,000
29,180
Charitable activities
Stipends and benefits
126,000
-
-
Other trading activities
Sector Team income
141,911
-
-
Investments
3
4,452
-
67
Other
976
-
-
Total income
330,890
1,000
29,247
Expenditure on:
Charitable activities:
Donations/Missions Expenses
4
125,886
-
74,828
Society for mission purposes
50,000
-
-
Other
5
9,000
-
-
Total expenditure
184,886
-
74,828
Net income/(expenditure) before
gains/losses on investments
146,004
1,000
(45,581)
Net gains/(losses) on investments
9
17,680
-
-
Net income/(expenditure)
before transfers
163,684
1,000
(45,581)
Transfers Between Funds
63,705
(4,931)
-
Net movement in funds
227,389
(3,931)
(45,581)
Total funds brought forward
at 1st January 2021
14
722,299
4,931
451,374
Total funds carried forward
at 30th June 2022
14
949,688
1,000
405,793
Unrestricted Funds		 General
Fund
£
5,054
-
-
-
-
Restricted
Funds		 18 month
Year to
Period to
December
June 2022
2020
£
£
92,785
157,016
126,000
84,000
141,911
78,941
4,519
5,173
976
-
5,054 366,191
325,130
-
-
-		 200,714
177,135
50,000
13,373
9,000
7,200
- 259,714
197,708
5,054
-		 106,477
127,422
17,680
3,251
5,054
(58,774)		 124,157
130,673
58,774
-
(53,720)
53,720		 124,157
130,673
1,232,324
1,101,651
- 1,356,481
1,232,324

There were no recognised gains or losses during the period other than the surplus for the period shown above. All the above results derive from continuing activities.

The accompanying notes form an integral part of these accounts.

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The Society of Catholic Medical Missionaries Balance Sheet at 30th June 2022 Junè 2022 June 2022 December 2020 Notg Dgcember 2020 Flxed assets Tangible gssels Investments 302,445 153988 323,450 138,308 Currgnt a88Ots Coll&Glions in progress Debtor5 Cash al bank Cash in hand 456,433 459,758 11 12 779 946,105 250 3,215 841.055 250 Gredltorn.. Amounts fallln9 due wtthln one yoar 947,134 844,520 13 47.086 Net curr&nt asso¢5 900.048 772,566 Total assets less current Ilabllltle8 1,356,481 1,232,324 Net assèts 1356,481 1232,324 Fund Balances G•n•ral Fund lunr¢$triotedl 14 949,bt5 722,299 Custodlal Fund (unrestriclèdl 14 1,OOD 4,931 Other Designal6d Fund5 14 405,793 451,374 Restncted Funds 14 53,720 1 356,481 1,232 324 The accompanying not&s fomi an integral part of these financial statements. Approved and authorfsed for18su$ by the Trustees and 8lgned on their behalf.. District England Treasurer DI8￿¢1 Co￿r￿lnat0r Date..

The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022

1 Accounting Policies

A summary of the principal accounting policies adopted, judgements and key sources of estimation uncertainty, is set out below:

1.1 Basis of Preparation

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The accounts (financial statements) have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The registered charity is a public benefit entity for the purposes of FRS 102 and therefore has also prepared its financial statements in accordance with the 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 (Charities SORP (FRS 102)) and the Charities Act 2011.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared on the historical cost convention, modified by the recognition of certain tangible fixed assets, and financial assets and liabilities measured at fair value.

1.2 Accounting period

These financial statements cover a 18 month period from 1 January 2021 to 30 June 2022. The comparative period is from 1 January 2020 to 31 December 2020. The change in year end is to align with the Generalate’s charity as they are soon to merge into a new legal structure, being Society of Catholic Medical Missionaries CIO.

1.3 Going concern

These financial statements are prepared on the going concern basis. The trustees have assessed the charity's ability to continue as a going concern and have considered possible events or conditions that might cast significant doubt on the ability of the charitable company to continue as a going concern. As part of this, the trustees have considered the impact of the current economic situation, which has resulted in a fall in donations but overall has not been financially significant. The assessment is for a period of at least one year from the date of the approval of these financial statements and have concluded that there are no material uncertainties about the charity's ability to continue.

1.4 Income

All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. Income is presented inclusive of any related tax credit.

Legacy income is recognised at the date of entitlement, which is deemed to be the earlier of the charity receiving notification of an impending distribution, or the legacy being received.

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The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022 (Continued)

1 Accounting Policies (continued)

1.5 Expenditure

Expenditure is included in the Statement of Financial Activities inclusive of any VAT which cannot be recovered. Expenditure is recognised on an accruals basis, once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 allocated directly to the expenditure headings as far as practically possible to reflect the activities of the charity under the following activity headings:

Expenditure on charitable activities includes those direct costs and support costs relating to the pursuit of the charity's objectives. Staff costs are allocated to appropriate expenditure categories by reference to estimated time spent by staff on activities.

Other expenditure represents those items not falling into any other heading.

1.6 Foreign Currencies

Transactions are dealt with at the rate of exchange prevailing at the date of the transaction.

1.7 Taxation

1.8 Fixed Assets and Depreciation

Tangible fixed assets are stated at cost less accumulated depreciation. All costs incurred in the purchase or enhancement of fixed assets is included.

Depreciation is provided on fixed assets when they are brought into use, at rates which will write off the cost of the assets over their useful effective lives.

The rates used are: Freehold land and buildings 2.5% straight line Furniture and equipment 25% straight line

Assets with a value exceeding £250 are capitalised in these accounts.

1.9 Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The charity does not acquire put options, derivatives or other complex financial instruments.

2.0 Investment gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise.

1.10 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with bank, and other short-term liquid investments with original maturities of three months or less.

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The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022 (Continued)

1 Accounting Policies (continued)

1.11 Financial instruments

Financial instruments are recognised in the charity's balance sheet then the charity becomes party to the contractual provisions of the instrument.

Basic financial assets and liabilities are initially recognised at transaction value and subsequently measured at amortised cost, using the effective interest rate method.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss.

1.12 Fund Accounting

Unrestricted

General - funds are available to spend at the discretion of the trustees in furtherance of the objectives of the charity. Designated - these are funds allocated by the Trustees and approved by the General Assembly for particular purposes.

Custodial - these are designated funds administered by District England on behalf of Districts overseas. Restricted - these are funds that are only to be used for a specific purpose.

1.13 Exemptions for qualifying entities

The charity has taken advantage of the exemption from the requirements of Module 14: Statement of cash flows to prepare a statement of cash flows, under the Charities SORP 2019.

1.14 Critical accounting estimates and areas of judgement

In the view of the trustees in applying the accounting policies adopted, no judgements were required that have a significant effect on the amounts recognised in the financial statements nor do any estimates or assumptions made carry a significant risk of material adjustment in the next financial year.

2
Income from donations and legacies
General
Fund
£
Donations
47,004
Legacies
10,547
Fundraising and events
57,551
3
Income from investments
General
Fund
£
Income arising from investments
3,684
Income arising from cash deposits
768
Total Income Arising
4,452		 18 month
Residential
period ended
Custodial
Care
Restricted
June
Fund
Fund
Fund
2022
£
£
£
£
1,000
29,180
5,054
82,238
10,547
-
1,000
29,180
5,054
92,785
18 month
Residential
period ended
Custodial
Care
Restricted
June
Fund
Fund
Fund
2022
£
£
£
£
67
-
3,751
-
768
-
67
-
4,519		 Year ended
December
2020
£
112,016
45,000
-
157,016
Year ended
December
2020
£
3,774
1,399
5,173

14

The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022 (Continued)

Residential
4 Donations/Missions
Expenses
General
Fund
Custodial
Fund
Care
Fund
£
£
£
Direct charitable expenditure:
Donations/missions expenses
18,872
-
74,828
Other donations and gifts
-
-
Support costs:
General expenses
2,187
-
-
House operating costs
58,443
-
-
Legal and professional
18,528
-
-
Depreciation
22,173
-
-
Bank charges
243
-
-
Meetings, travel and other
support
5,440
-
-
125,886
-
74,828
5 Other costs
Residential
General
Custodial
Care
Fund
Fund
Fund
£
£
£
Auditor's remuneration for:
Audit fee
9,000
-
-
9,000
-
-
6 Staff Costs
Wages and salaries
Social security costs
Number of employees:
The average monthly number of employees during the year was		 Restricted
Fund
£
-
-
-
-
-
-
-
-		 18 month
period ended
June
2022
£
93,700
-
2,187
58,443
18,528
22,173
243
5,440
200,714
Year ended
December
2020
£
7,200
7,200
Year ended
December
2020
£
8,040
-
8,040
1		 Year ended
December
2020
£
104,034
275
1,369
62,732
88,335
14,070
133
3,572
- 274,520
18 month
period ended
June
2022
£
9,000
9,000
18 month
period ended
June
2022
£
12,060
-
12,060
1

The society considers its key management personnel to comprise the trustees.

There were no employees who received employee benefits of more than £60,000 (2020 - none).

7 Trustees' Remuneration

No trustees received remuneration for their services during the period (2020 - none). No trustees were reimbursed during the period (2020 - none).

15

The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022 (Continued)

8
Fixed Assets
8
109
Springfield
Clitherow
Road
Avenue
Cost
£
£
As at 1st January 2021
151,956
396,176
Additions
-
Disposals
As at 30th June 2022
151,956
396,176
Depreciation
As at 1st January 2021
46,230
179,926
Charge for the year
20,555
-
As at 30th June 2022
66,785
179,926
Net Book Value
At 30th June 2022
85,171
216,250
At 31st December 2020
105,726
216,250
9
Investments
CCLA Fixed Interest Deposit Fund
Market value brought forward at 1 January 2021
Change in market value
Market value carried forward at 30 June 2022
National Savings Income Bonds
These are held primarily to provide an investment return for the charity.
10
Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost
Instruments measured at fair value through income and expenditure
Carrying amount of financial liabilities
Measured at amortised cost		 109
Clitherow
Avenue
£
396,176		 Furniture
and
Equipment
£
31,757
1,168		 18 month
period ended
June
2022
£
579,889
1,168
-
396,176 32,925 581,057
179,926
-		 30,283
1,618		 256,439
22,173
179,926 31,901 278,612
216,250 1,024 302,445
216,250 1,474 323,450
18 month
period ended
June
2022
£
101,308
17,680		 Year ended
December
2020
£
98,057
3,251
118,988
35,000		 101,308
35,000
153,988 136,308
18 month
period ended
June
2022
£
1,453
118,988		 Year ended
December
2020
£
2,401
101,308
45,381 46,071

16

The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022 (Continued)

11
Debtors
18 month
period ended
June
2022
£
Sundry debtors, receivables and prepayments
779
Accrued income
-
779
12
Cash at Bank
18 month
period ended
June
2022
£
Current Accounts
No.1
295,743
Metro Bank
28,677
Springfield Road
7,770
332,190
Deposit Accounts
Business reserve account
23,892
Metro Deposit account
36,306
Investment account
196,772
95 Day Coop Account
326,944
CCLA deposit fund
30,001
946,105
13
Creditors: Amounts falling due within one year
18 month
period ended
June
2022
£
Other creditors
871
Taxation and social security
405
Deferred Income
-
Accruals
9,000
Patrimony
36,810
47,086		 Year ended
December
2020
£
2,422
793
3,215
Year ended
December
2020
£
266,317
28,677
8,012
303,006
23,738
36,289
196,673
251,348
30,001
841,055
Year ended
December
2020
£
2,340
404
25,200
7,200
36,810
71,954

17

The Society of Catholic Medical Missionaries Notes to the Financial Statements For the period ended 30 June 2022 (Continued)

14 Funds

Unrestricted:
General
Designated:
Custodial fund
Other designated:
District General
Residential Care
Restricted:
Springfield Road
Total		 Brought
Forward
£
722,299
4,931
250,000
201,374
451,374
53,720
1,232,324		 Incoming
Resources
£
330,890
1,000
-
29,247
29,247
5,054
366,191		 Outgoing
Resources
£
(184,886)
-
-
(74,828)
(74,828)
-
(259,714)		 Gains and
Losses
£
17,680
-
-
-
-
-
17,680		 Transfers
£
63,705		 Carried
Forward
£
949,688
(4,931) 1,000
- 250,000
155,793
- 405,793
(58,774) -
- 1,356,481

Custodial funds are those funds administered by District England on behalf of Districts overseas.

District General Reserves are funds allocated by the General Assembly considered to be the working capital requirements for the District.

The Residential Care Reserve is used to cover extra care for Sisters when not fully funded by Health Authorities. A transfer from general funds was approved by the trustees to bring the fund to a level that will allow for required short term support of the Sisters.

The Restricted Fund has been donated specifically for the extension of the Springfield property.

15
Analysis of net assets between funds
General Fund
Designated:
Custodial Fund
Other Funds
Restricted		 Fixed
Assets
£
456,433
-
-
-
456,433		 Current
Assets
£
540,341
1,000
405,793
-
947,134		 Creditors:
Amounts
due within
one year
£
(47,086)
-
-
-		 Total
£
949,688
1,000
405,793
-
(47,086) 1,356,481

16 Related Parties

During the year one sister (2020: one sister), who is also a trustee of the charity, lived rentfree in the properties in order to carry out the objects of the Society.

18