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2020-12-31-accounts
| Trustees |
Sr Patricia Mitchell |
|
Sr Maureen Connor |
|
Sr Catherine Jones |
|
Sr Jessica Gatty |
|
Sr Marie-Sophie d'Oultremont |
|
Sr Catherine Cowley |
|
Sr AnneThielen |
| Charity number |
233084 |
| Principal address |
20 Kensington Square |
|
London |
|
W8 5HH |
| Auditor |
Citroen Wells |
|
Chartered Accountants |
|
Devonshire House |
|
1Devonshire Street |
|
London |
|
W1W5DR |
| Bankers |
Royal Bank of Scotland pic |
|
62 - 63 Threadneedle Street |
|
London |
|
EC2R 8LA |
| Solicitors |
Russell-Cooke |
|
2Putney Hill |
|
London |
|
SW15 6AB |
| Investment advisors |
Quilter Cheviot Ltd |
|
Senator House |
|
85 Queen Victoria Street |
|
London |
|
EC4V 4AB |
|
Epworth Investment Management Ltd |
|
9 Bonhill Street |
|
London |
|
EC2A4PE |
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
funds |
funds |
2020 |
2019 |
|
Notes |
000 |
000 |
000 |
000 |
| Income from: |
|
|
|
|
|
| Property and associated income |
|
13 |
_ |
13 |
14 |
| Legacies and donations |
|
9 |
- |
9 |
618 |
| Sisters' salaries and pensions |
|
268 |
- |
268 |
251 |
| Investments |
2 |
744 |
36 |
780 |
861 |
| Other income |
3 |
1,267 |
- |
1,267 |
- |
| Total income |
|
2,301 |
36 |
2,337 |
1,744 |
| Expenditure on: |
|
|
|
|
|
| Investment management costs |
4 |
101 |
|
101 |
88 |
| Charitable activities - Provincial expenses |
5 |
2,146 |
299 |
2,445 |
2,491 |
| Total expenditure |
|
2,247 |
299 |
2,546 |
2,579 |
| Net gains on investments |
10 |
718 |
- |
718 |
4,139 |
| Net movement in funds |
|
772 |
(263) |
509 |
3,304 |
| Fund balances at 1 January 2020 |
|
54,234 |
6,955 |
61,189 |
57,885 |
| Fund balances at 31 December 2020 |
|
55,006 |
6,692 |
61,698 |
61,189 |
|
|
2020 |
|
2019 |
|
|
otes |
000 |
000 |
000 |
000 |
| Fixed assets |
|
|
|
|
|
| Property, plant and equipment |
11 |
|
10,002 |
|
10,053 |
| Investments |
12 |
|
44,910 |
|
43,731 |
|
|
|
54,912 |
|
53,784 |
| Current assets |
|
|
|
|
|
| Trade and other receivables |
14 |
147 |
|
43 |
|
| Cash at bank and in hand |
|
6,848 |
|
7,837 |
|
|
|
6,995 |
|
7,880 |
|
| Current liabilities |
15 |
(164) |
|
(381) |
|
| Net current assets |
|
|
6,831 |
|
7,499 |
| Total assets less current liabilities |
|
|
61,743 |
|
61,283 |
| Non-current liabilities |
16 |
|
(45) |
|
(94) |
| Net assets |
|
|
61,698 |
|
61,189 |
| Income funds |
|
|
|
|
|
| Restricted funds |
17 |
|
6,692 |
|
6,955 |
| Unrestricted funds |
|
|
|
|
|
| Designated funds |
19 |
30,293 |
|
31,319 |
|
| General unrestricted funds |
|
24,713 |
|
22,915 |
|
|
|
|
55,006 |
|
54,234 |
|
|
|
61,698 |
|
61,189 |
|
|
20202019 |
20202019 |
|
Notes000000000000 |
|
|
| Cash flows from operating activities |
|
|
|
| Cash (absorbed by)/generated from22 |
|
|
|
| operations(1,293)8,748 |
|
|
|
| Investing activities |
|
|
|
| Purchase of property, plant and equipment |
(32) |
|
(2,265) |
| Proceeds on disposal of property,plant |
|
|
|
| and equipment |
17 |
|
- |
| Purchase of investments |
(15,596) |
|
(15,519) |
| Proceeds on disposal of investments |
15,135 |
|
15,315 |
| Investment income received |
780 |
|
861 |
| Net cash generated from/fused in) |
|
|
|
| investing activities |
|
304 |
(1,608 |
| Net (decrease)/increase in cash and cash |
|
|
|
| equivalents |
|
(989) |
7,140 |
| Cash and cash equivalents at beginning of year |
|
7,837 |
697 |
| Cash and cash equivalents at end of year |
|
6,848 |
7,837 |
|
|
Unrestricted |
Restricted |
Total |
Total |
|
|
fundsfunds |
|
2020 |
2019 |
|
|
000 |
000 |
000 |
000 |
|
Income from listed investments |
696 |
|
696 |
802 |
|
Interest receivable |
48 |
36 |
84 |
59 |
|
|
744 |
36 |
780 |
861 |
|
For the year ended 31December 2019 |
848 |
13 |
|
861 |
| 3 |
Other income |
|
|
|
|
|
|
|
|
2020 |
2019 |
|
|
|
|
000 |
000 |
|
Income due on disposal of property |
|
|
4 |
|
|
Loan interest |
|
|
1,263 |
- |
|
|
|
|
1,267 |
- |
| 4 |
Investment management costs |
|
|
|
|
|
|
|
|
2020 |
2019 |
|
|
|
|
000 |
000 |
|
Investment management |
|
|
101 |
88 |
| 5 |
Charitable activities - Provincial expenses |
|
|
|
|
|
|
|
|
2020 |
2019 |
|
|
|
|
000 |
000 |
|
Staff costs |
|
|
827 |
771 |
|
Depreciation and impairment |
|
|
70 |
63 |
|
Province and communities expenses |
|
|
1,106 |
1,208 |
|
|
|
|
2,003 |
2,042 |
|
Grant funding of activities (see note 6) |
|
|
442 |
449 |
|
|
|
|
2,445 |
2,491 |
|
2020 |
2019 |
|
000 |
000 |
| From unrestricted funds: |
|
|
| Grants to institutions: |
|
|
| Kids Kabin in Newcastle |
15 |
15 |
| Duchess of Leeds Assumption Fund |
15 |
15 |
| Mother House |
32 |
27 |
| Refugee support |
40 |
40 |
| Catholic Trust for England and Wales |
. |
30 |
| Other |
41 |
38 |
|
143 |
165 |
| From the Assumption Legacy Fund: |
|
|
| First Star Academy |
|
150 |
| Formatio |
50 |
- |
| St Mary's Modern Slavery |
22 |
- |
| Sycamore |
- |
20 |
| Ecological Conversation Group |
19 |
20 |
| Chailey Heritage Foundation |
29 |
29 |
| Hull Catholic Chaplaincy |
- |
30 |
| Mary Mother of God Parish in Bradford |
- |
66 |
| Kenelm Youth Trust |
20 |
- |
| Citywise |
60 |
- |
| Rise Theatre |
20 |
- |
| Catholic Children's Society |
20 |
- |
| Diocese of Hexham |
50 |
- |
| Other |
9 |
(31 |
|
299 |
284 |
|
442 |
449 |
| 8 |
Auditor's remuneration |
|
|
|
The analysis of auditor's remuneration is as follows: |
|
|
|
|
2020 |
2019 |
|
|
000 |
000 |
|
Fees payable to the auditor for the audit of the annual accounts |
25 |
25 |
| 9 |
Employees |
|
|
|
Number of employees |
|
|
|
The average monthly number of employees during the year was: |
|
|
|
|
2020 |
2019 |
|
|
Number |
Number |
|
Nursing and administrative staff |
20 |
20 |
|
Employment costs |
2020 |
2019 |
|
|
000 |
000 |
|
Wages and salaries |
736 |
690 |
|
Social security costs |
71 |
64 |
|
Other pension costs |
20 |
17 |
|
|
827 |
771 |
|
There were no employees whose annual remuneration was 60,000 or more. |
|
|
| 10 |
Net gains on investments |
|
|
|
2020 |
2019 |
|
000 |
000 |
| Revaluation of investments |
718 |
3,933 |
| Gain on sale of investment properties |
- |
206 |
|
718 |
4,139 |
| Property, plant and equipment |
|
|
|
|
|
|
Freehold Land |
Leasehold |
Fixtures, |
Motor vehicles |
Total |
|
and buildings |
Land and |
fittings & |
|
|
|
|
buildings |
equipment |
|
|
|
000 |
000 |
000 |
000 |
000 |
| Cost |
|
|
|
|
|
| At 1 January 2020 |
9,268 |
1,086 |
317 |
63 |
10,734 |
| Additions |
- |
- |
|
32 |
32 |
| Disposals |
(10) |
- |
- |
(23) |
(33) |
| At 31 December 2020 |
9,258 |
1,086 |
317 |
72 |
10,733 |
| Depreciation and impairment |
|
|
|
|
|
| At 1 January 2020 |
|
378 |
244 |
59 |
681 |
| Depreciation charged in the year |
- |
54 |
8 |
8 |
70 |
| Eliminated in respect of disposals |
- |
- |
- |
(20) |
(20) |
| At 31 December 2020 |
- |
432 |
252 |
47 |
731 |
| Carrying amount |
|
|
|
|
|
| At 31 December 2020 |
9,258 |
654 |
65 |
25 |
10,002 |
| At 31 December 2019 |
9,268 |
708 |
73 |
4 |
10,053 |
| All these assets are deployed for Religious and Charitable work. |
|
|
|
|
|
| Fixed asset investments |
|
|
Total |
|
investments |
|
000 |
| Cost or valuation |
|
| At 1 January 2020 |
43,731 |
| Additions |
15,596 |
| Valuation changes |
718 |
| Disposals |
(15,135) |
| At 31 December 2020 |
44,910 |
| Carrying amount |
|
| At 31 December 2020 |
44,910 |
| At 31 December 2019 |
43,731 |
| 12 Fixed asset investments |
|
(Continued) |
| Investments included above: |
2020 |
2019 |
|
000 |
000 |
| Listed investments carrying amount |
35,624 |
34,941 |
| Investment properties |
114 |
114 |
| Cash held within investment portfolio |
9,172 |
8,676 |
| 13Financial instruments |
2020 |
2019 |
|
000 |
000 |
| Carrying amount of financial assets |
|
|
| Instruments measured at fair value through statement of financial activities |
35,738 |
35,055 |
| 14Trade and other receivables |
|
|
|
2020 |
2019 |
| Amounts falling due within one year: |
000 |
000 |
| Other receivables |
21 |
|
| Prepayments and accrued income |
83 |
43 |
|
104 |
43 |
|
2020 |
2019 |
| Amounts falling due after more than one year: |
000 |
000 |
| Other receivables |
43 |
- |
| Total debtors |
147 |
43 |
| 15 Current liabilities |
|
|
|
2020 |
2019 |
|
000 |
000 |
| Grants payable |
109 |
242 |
| Accruals and deferred income |
55 |
139 |
|
164 |
381 |
| 16 Non-current liabilities |
|
|
|
2020 |
2019 |
|
000 |
000 |
| Grants payable |
45 |
94 |
|
The income funds of the charity include |
The income funds of the charity include |
restricted funds comprising the following |
restricted funds comprising the following |
restricted funds comprising the following |
restricted funds comprising the following |
unexpended balances of |
unexpended balances of |
|
donations and grants held on trust for specific purposes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Movement |
in funds |
|
|
|
|
|
Balance at |
|
Incoming |
Resources |
Balance at |
|
|
|
|
1 January 2020 |
|
resources |
expended 31 December |
|
|
|
|
|
|
|
|
|
2020 |
|
|
|
|
000 |
|
000 |
000 |
000 |
|
Assumption Legacy Fund |
|
|
6,955 |
|
36 |
(299) |
6,692 |
|
The restricted fund is in relation to a linked charity established in 2018. |
|
|
|
|
|
|
|
| 18 |
Analysis of net assets between funds |
|
|
|
|
|
|
|
|
|
Unrestricted |
Restricted |
Total |
Unrestricted |
|
Restricted |
Total |
|
|
funds |
funds |
|
|
funds |
funds |
|
|
|
2020 |
2020 |
2020 |
|
2019 |
2019 |
2019 |
|
|
000 |
000 |
000 |
|
000 |
000 |
000 |
|
Fund balances at 31 |
|
|
|
|
|
|
|
|
December 2020 are |
|
|
|
|
|
|
|
|
represented by: |
|
|
|
|
|
|
|
|
Property,plant and |
|
|
|
|
|
|
|
|
equipment |
10,002 |
- |
10,002 |
|
10,053 |
- |
10,053 |
|
Investments |
44,910 |
- |
44,910 |
|
43,731 |
- |
43,731 |
|
Current assets/ |
|
|
|
|
|
|
|
|
(liabilities) |
139 |
6,692 |
6,831 |
|
544 |
6,955 |
7,499 |
|
Long term liabilities |
(45) |
- |
(45) |
|
(94) |
- |
(94) |
|
|
55,006 |
6,692 |
61,698 |
|
54,234 |
6,955 |
61,189 |
|
|
Movement in |
funds |
|
|
Balance at |
Incoming |
Utilised |
Balance at |
|
1 January 2020 |
resources |
|
31 December |
|
|
|
|
2020 |
|
000 |
000 |
000 |
000 |
| Property improvement and maintenance |
2,743 |
|
(14) |
2,729 |
| Functional fixed assets |
9,345 |
32 |
(30) |
9,347 |
| Youth work |
376 |
- |
(66) |
310 |
| Retirement |
18,855 |
- |
(948) |
17,907 |
|
31,319 |
32 |
(1,058) |
30,293 |
|
2020 |
2019 |
|
000 |
000 |
| Within one year |
140 |
140 |
| Between two and five years |
560 |
560 |
| In over five years |
962 |
1,102 |
|
1,662 |
1,802 |
| 22Cash generated from operations20202019 |
22Cash generated from operations20202019 |
22Cash generated from operations20202019 |
|
000000 |
|
| Surplus for the year5093,304 |
|
|
| Adjustments for: |
|
|
| Investment income recognised in statement of financial activities |
(780) |
(861) |
| Gain on disposal of property, plant and equipment |
(4) |
- |
| Gain on disposal of investment property |
- |
(206) |
| Fair value (gains) and losses on investments |
(718) |
(3,933) |
| Depreciation and impairment of property, plant and equipment |
70 |
63 |
| Movements in working capital: |
|
|
| (lncrease)/decrease in trade and other receivables |
(104) |
17,516 |
| (Decrease) in trade and other payables |
(266) |
(7,135) |
| Cash (absorbed by)/generated from operations(1,293)8,748 |
|
|