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|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|Information|||||||
|---|---|---|---|---|---|---|---|---|---|
|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||||||
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|||||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|
##
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||||||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|
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|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|