2022-03-31-accounts - Charity For Roman Catholic Purposes Administered In Connection With The Congregation Of The Franciscan Missionary Sisters (Littlehampton)

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Contents			Page
Reference and Administrative		Information
Report ofthe Trustees			2to 6
Report ofthe Independent	Auditors		7 to 9
Statement ofFinancial Activities			10
Balance Sheet
Cash Flow Statement			12
Notes to the Accounts			13to 18

Reference	and Administrative	and Administrative
Charity Registration		Number:	232931
Address			The Generalate
			St.Joseph's Convent
			East Street
			Littlehampton
			West Sussex
			BN17 6AU
Reverend	Mother General (Trustee)		Sister E.Morris
General Council (Trustees)			Sister BBowers
			SisterJ Arden-Close			(resigned	12.1.23)
			Sister S Rudkin			(resigned	12.1.23)
			Sister Promodini		Ekka.
			Sister C A McLaughlin			(appointed	12.1.23)
			Sister CBKnowles			(appointed	12.1.23)
Provincial	Bursar		MsJane Sheppard
Auditors			Hodson &Co
			Wiston House
			1Wiston Avenue
			Worthing
			BN147QL
Solicitor			Messrs. Blount	Petre I&amer
			29 Weymouth	Street
			London
			W1N 4QL
Bankers			Lloyds Bank pic
			1Beach Road
			Littlehampton
			West Sussex
			BN17 5HY
Financial Advisors			Moore Kingston		Smith	Financial Advisers		ltd
			105StPeters Street
			St Albans
			Herts.
			AL1 3EJ
Investment	Asset Managers		Quilter Cheviot
			One Kingswy
			London
			WC2B 6AN

				Unrestricted	Unrestricted
				Funds	Funds
			Note	2022	2021
Income
Voluntary income:
Donations and legacies				14,713	17,486
Activities in furtherance ofthe
charity's objects:
Fees and charges for residential		and care services		1,678,806	1,485,894
Sisters' salaries and pensions				108,700	119,669
Government Covid-19 grants				55,852	139,838
Investment income				170,924	148,593
Sundry income				28,721	18,068
Pro6t on disposal of fixed assets				1,002,638	2,691
Total Income				3,060,354	1,932,239
Expenditure
Raising Funds
Investment management fees				65,552	51,358
Charitable ex/9enni 'tur e
Costs of activities in furtherance		ofthe Trust's objects:
Cost ofproviding residential	and care services			2,006,465	1,809,951
Missionary work and charitable		donations:		11,648	12,819
Upkeep ofCongregation				183,219	184,257
Total Expenditure				2,266,884	2,058,385
Net Income/(Expenditure)	before gains/(losses)		on investments	793,470	-126,146
Net gains on investment assets				~28,184	2,111,492
Net (expenditure)/income				765,306	1,985,346
Fund balance brought forward				11,178,713	9,193,367
Fund balance carried forward				11,944,019	11,178,713

				Note	2022	2022	2021	2021
Fixed Assets
Tangible assets						3,036,122		3,122,028
Investments						8,845,005		7,959,685
						11,881,127		11,081,713
Current Assets
Debtors					49,396		50,786
Cash at bank	and in	hand			121,292		171,970
					170,688		222,756
Creditors: Amounts		falling due
within one year Accruals				6	~1177,796		125,756
Net Current	Assets					62,892		97,000
Total Assets	less Current Liabilities					11,944,019		11,178,713
Unrestricted	Funds	and Reserves
Property and	Equipment		fund			3,036,122		3,122,028
Medical and Retirement			provision			4,000,000		4,000,000
Formations fund						400,000		400,000
Accumulated	fund					4,507,897		3,656,685
						11,944,019		11,178,713

					2022	2022	2021	2021
Cashflows from Operating	Activities
Net cash provided by/(used	in)	Operating	Activities			(270,380)		(77,917)
Cahflows from Investing	Activities
Interest received					170,924		148,593
Purchase oftangible fixed assets					(46,631)		(72,910)
Disposal offixed assets					1,008,894		2,691
Disposal ofinvestments Purchase ofinvestments					2,120,024 ~2,438,05		2,497,898 ~2,821,16
Net Cash provided by/(used		in) Investing		Activities		815,154		244,895
Net Cash provided/(used)	in	the year				544,774—		322,812
Increase/(Decrease) in Cash		and Cash	Equivalents			544,774		322,812

F	or t	he	year	ended 31	stMarch	2022 (Conti	nued)
				Staff		Other costs
Analysis ofTotal	Resources - 2022			&agency		including	Total	Total
				Costs	Depreciation	Support costs	2022	2021
Cost ofgenerating	funds					65,552	65,552	51,358
Activities in furtherance		of	objects	1,188,627	126,283	886,422	2,201,332	2,007,027
				1,188,627	126,283	951,974	2,266,884	2,058,385
				Staff		Other costs
Analysis ofTotal	Resources - 2021			&agency		including	Total
				Costs	Depreciation	Support costs	2021
Cost ofgenerating	funds					51,358	51,358
Activities in furtherance		of	objects	1,126,750	117,884	762,393	2,007,027
				1,126,750	117,884	813,751	2,058,385
Governance costs	included		in support	cost			2022	2021
Audit fee							5750	5700
Staff costs include	the following:
Wages and salaries							1,104,132	1,059,839
Social security costs							67,942	52,801
Pension costs							16,553	14,110
							1,188,627	1,126,750
Averagenumbero	fpers	ons	emloed	during theyear	vvas		72	68

No employees emoluments were in exce	ss of$60,000.
Tangible Fixed Assets		Furniture,
	Land and	Fittings and	Motor
	Buildings	Equipment	Vehicle	Total
Cost or Valuation
At 1stApril 2021	3,997,087	1,214,360	244,956	5,456,403
Additions at cost/valuation Disposals	34,000	12,298	34,334 ~26,725	46,632 ~60,7255
At 31stMarch 2022	3,963,087	1,226,658	252,565	5,442,310
Depreciation
At 1stApril 2021	1,118,821	990,618	224,936	2,334,375
Charge for the year Disposals	66,182 ~27,744	43,330	16,770 ~26,725	126,282 ~54,469
At 31stMarch 2022	1,157,259	1,033,948	214,981	2,406,188
Net BookValue
At 31stMarch 2022	2,805,828	192,710	37,584	3,036,122
At 31st lvlarch 2021	2,878,266	223,742	20,020	3,122,028

4	Fixed Asset Investments							2022	2021
	Market value: Listed investments
	At 1st April							7,680,746	5,245,985
	Additions							2,438,057	2,821,167
	Disposals proceeds Net gains/Oosses)							(2,120,024) ~28,164	(2,497,898) 2,111,492
								7,970,615	7,680,746
	Cash at Brokers							874,390	278,939
	At 31stMarch 2022							8,845,005	7,959,685
	Analysis oflisted investments
	UI~							4,639,695	3,500,747
	Overseas							3,480,613	4,179,482
								7,970,615	7,680,746
	Historic Cost							6,183,220	5,552,948
	All investments are held primarily		to	provide	an investment	return for the	charity.
5	Debtors							2022	2021
	Trade debtors							26,873	20,178
	Prepayments and accrued	income						22,523	30,608
								49,396	50,786
6	Creditors							2022	2021
	Other creditors and accruals							107,796	125,756
7	Unrestricted Funds and	Reserves		Property and		Medical and
				Equipment		Retirement	Formations	Accumulated	Total
					Fund	Fund	Funds	Fund	Funds
	Balance at 1stApril 2021 Net incoming resourcesdc	transfers		3,122,028 ~85,906		4,000,000	400,000	3,656,685 851,212	11,178,713 765,306
	Balance at 31stMarch 2022				3,036,122	4,000,000	400,000	4,507,897	11,944,019

8	Reconciliation ofNet Income/(Expenditure	Reconciliation ofNet Income/(Expenditure	to		2022	2021
	net Cash Inflow/(Outflow) from Operating		Activities
	Net income/ (expenditure) before gains				793,470	(126,146)
	Interest receivable				(170,924)	(148,593)
	Depreciation				(876,356)	115,193
	(increase) /Decrease in debtors Increase/(Decrease) in creditors				1,390 ~17,960 ~270 380	52,931 28,698 ~7,91
9	Analysis ofChanges in Cash and Cash	Equivalents		during the Year	2022	2021
	Balance at 1stApril 2021 Net cash inflow/(outflow)				450,909 544,774	773,721 ~322,8'l2
	Balance at 31stMarch 2022				995,683	450,909
	Summary ofCash and Cash Equivalents	.
	Cash at bank				121,293	171,970
	Cash at brokers				874,390	278,939
					995,683	450,909

				2022	2022	2021	2021
Income
Fees and charges for residential			and care services	1,678,806		1,485,894
Sisters' salaries and pensions				108,700		119,669
Donations and legacies				14,713		17,486
Government Covid-19 grants				55,852		139,838
Interest receivable and dividends				170,924		148,593
Profit on sale ofland and	buildings			996,181
Profit on disposal motor vehicle				6,457		2,691
Sundry income				28,721		18,068
					3,060,354		1,932,239
Expenditure
Wages and Agency costs				1,188,627		1,126,750
Surgical materials and staff courses				31,653		35,776
Provisions and household				124,420		122,099
Maintenance contracts				107,420		108,852
Redecoration, repairs and	renewals			140,065		51,513
Light and heat				110,450		109,568
Rent and rates				36,963		20,052
Insurance				54,796		38,710
Printing, postage, stationery		and	telephone	44,370		47,103
Depreciation offreehold	property			66,'1 82		66,760
Depreciation offurniture	and equipment			43,330		42,937
Sister allowances				17,376		20,280
Welfare ofSisters				81,530		90,553
Formation, vocation, jubilees				13,599		19,101
Congregation special events,		courses		5,096		115
Chaplain stipends and retreats				8,334		6,171
Chapel requisites				1,740		2,262
Mass offerings				1,993		2,293
Advertising				6,921		912
Motor and travel				20,112		17,398
Depreciation ofcars and	minibus			16,771		8,187
Donations and missionary	work			11,648		12,819
Audit fees				5,750		5,700
Legal and professional fees				52,452		49,008
Bank and investment charges				66,794		52,704
foreign exchange gain/ loss				1,686		-379
Sundry expenses				6,806		1,139
Total Expenditure					2,266,884		2,058,385
Net Surplus/ (Deficit)	for the Year				793,470		(126,146)
Net (losses) /gains on investments					28,164		2,111,492
Net Movement ofFunds					765,306		1,985,346