THEALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART (Charitable tompany limited by guarantee) FINAiYCIAL sfATEMEIYTS FOR THE YEAR ENDED 31 DECEMBER 2022 Haysmacintyre LLP Charfercd Accountants Regi5tcred Auditors London Company Number.. 0773307 Re8iStered Charity Number." 233131 02V9FT• 29J0912023 COWANIES HOUSE
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART FOR THE YEAR ENDED 31 DECEMBER 2022 REFERENCEAP4DADMINisfRATIVE DETAILS Truste¢s and directors The dir¢¢tors of lh¢ charitable company (the ¢harity) are its trustees for th¢ purpos¢ of company law and thwughoyl thLS r¢wrt are collectively referrAI to &5 the truyees. The following served as tyust¢es of the company during the year ended 31 December 2021. Finbar Buil¢r- Chairn)an Dermot Jeremiah O'Leary John Flerning Company Secretary Demiot O'Ltary Regional LeAder Finbar Butler Churchfield KTh)ck. Co. Mayo Registered orrite 10 Queen Sireet Place IAJndon EC4R IAG Charity Rtgi$ir4tioN IY 233131 Company Number 0773307 Governing Instrument Memorandum & Articles of Association dated 6 September 1963 las amended by special re501uiion dated 20 May 2020) Auditor Haysmacintyre LLP 10 Queen Street Place Londo EC4R IAG Solicitors DThces LLP Salisbury House London Wall London EC2M 5PS Principal Bankers The Royal Bank of Scotland London City Office 62163 Threadneedle Sire Ixjndon EC2R 8LA Invtstrnent Managers Quilter Cheviot Senaior House 85 Queen VictorLa Street . EC4V 4AB
THE ALEXIAN BROTHERS OFTHE PROVINCE OF THE SACRED HEART (Charitable tompany limited by Earantee) TRUSTEES, REPORT FOR THE YEAR ENDED31 DECEMBER 2022 The Trustees present their iepon and the audited accounts for the year ended 31 tk¢¢mber 2022 which have been Prepared in ac¢ordan¢e wilh the requirements ol the Statement of Recommended Pwii¢e for Charities ISORP 20151 (Second Ediiion, ¢ffe¢(ive l January 2019), the Cornpanies Act 2006 and applirabl¢ acrouDling standards. STRUCTURE. GOVERNANCE AND MANAGEMENT Coverning Dotument The Alexian Brothers of the Province of the Sacred Heart 15 a Company limiied by guaranie¢ and is governed by its Memorandum and Arti¢les of Association daied 6 September 1963. (Updated May 20201 li is also regisiered as a ehariry with the Charity Commission. The membets. liability is lirniied. Every mernbeT of the CongTega¢ion of lh¢ Al¢xian Brothers undertakes io Coniribute up io £1 to lh¢ asses of ihe company in ihe event of it being wound up. Trnstee tomposition. 3PPOllltmeTrl of TTh$iet4 *ffjd trxining Th¢ Tnjsiees, who are also the directots of the Charily for lh¢ purwses of company law. control all activitie5 undu the dire¢iion of th¢ Chaimian who is a150 the Provincial of Ihe Alexian Biothets. They a¢1 as a Council of Management. Only rnefftbS of the Congr¢gaLion may serve and (hey are appointed by the Council of Management. M¢fflbeis of the Province elect the Council of Management and the Provincial for a temi of four years. The Council of Managernent app)ints the PtovincLal Bursar. Training 15 provided internally by moTe experienced broihers and th¢n cxternally by the attendan¢¢ at Conferences and more specifically by proft55ional advisors as required. RISK MANAGEMENT The TTUStees are closely involved with the review of risk and ernploy suitable pwfessionals 5upplemeni iheirown expert knowledge. The Trust¢es have assessed the major risks to which the charity is exposed. in particular those related 10 LIS op¢ration5 and finance& and are satisfied ihat syyems are in place to mitigate eXSUre to the majoi risks fa¢ed. PUBLIC BENEFIT The Trusttts confirn that they have complieil with the duty in section 17 of the Charities Act 2011 to havE due regard to the public benefit guidance published by the Charity Commission in detemiining the aciiviiie5 undertaken by the Charity. OBJEcfivES Charilable Objects The Alexian Broth¢TS are a Roman Catholi¢ Congregation who care for people in all areas of the health field. The Congiegatton came into being during the Black Pl4ue when members risked their lives by soin8 ourside the city walls to care for the dyin8 plague victim5 and to bury them. Theii philosophy Is to minister, io ihe very best of their ability, to those they serv¢ in ihe belief that each individual peT50r¥ regard1¢s5 of race. ¢re¢d or eolour Js the individual person of Jesus Christ. There are other provinces working in Belgium, Gerniany. Hungary, the United State5 and the Philippines. The object5 of the charity are ihe advanrement of the Roman CatholLC religion, in particular, bul not limited lo, through the religious and other charitable work of the Congregation. as the TnLStees with the approval of the Regional Leader shall from titne 10 time think fit.
THEALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART IChAritablt company lirnited by guarantee) TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED31 DECEMBER 2022 AIMSANDAcfiviTIES Review ofaetivitie5 and perfornance during the year St. Alexiu5 Knock Co. Mayo A0mModateS the Provincial Offlce and the Bursar's office rek>cated from DTumcondra Dublin. 5 Broihers are resid¢ni her4 i]dIng lh¢ Pmvincial and Regional Burw 2 Brothers art in care in Dublin, one receiving Nursing Care and the other in as5i5tcd livin8 and thi5 furbded by the Region The property was acquirEd in 2005 and 5in¢e then has undergone a cotnplete alieraiion and refurbishment. Its intended us¢ is as aNovitiat¢ Hou% 4Thd providing hospiiality in a ¢otntnunity setting for people recovering from addiciions or for whom no alternative 5¢rvir¢s ¢xist. li is also a house of ptay¢r, hospitality and healjng. The mLnisiry continues 10 develop. ThE purrha5¢ of an lditIO[ adjarcnt hou was Mpled later and ptovides accommodation for the monastery guesthou5¢ for th05¢ on Rctreats ¢tr_ Our Oratory 15 on from 6.30-8.30pm daily and ihe public aTE frcc to visit. Some local people. visjtors and religious join the brnthers for prayer. The brothers provide.. Addiction wunsellin8 Lisiening ear service Befriending services Telephone befriending servi¢¢s Providing accornmodalion and meals at Chri5tma5 time for people who llve aknie Respondin8 to people looking for help at the dr Helping as requested in the local parish Hospiial visits Ada¢Y seryice in court Online support for people with mEntal hcalth i$5ues, Jsol¥tion and h)neliness. We have 3 large meeting rM where groups meet throughout ihe year for prayer. training. ¢ouDsellin8 and support. We normally have one person livin8 in the community who is in recovery and we endeavouT 10 upskill the person in the following.. Domesii¢ duties. Kitch duties Re¢eplion duties Gardening Care of our herd of pygmy goa15 Care of our flock of hens. ducks and guinea fowl
THE ALEXIAN BROTHERS OFTHE PROVINCEOFTHE SACRED HEART (Charit#bl¢ tompny limited by guar#ite) TRUSTEES, REPORT (Coniinued) FOR THE YEAR KNDED31 DECEMBER2022 AIMS AND ACTIVITIES {¢ontiNued) Gr*nt Making The mernbers of our community aTe now getting older age and we have less ability to be directly involved in apostt)lirJmi5sion activities. However. we are eager to use our financial resources to ass15t other groups who have a similar ethos to ourselves and who are engaged in charitable projects. The Trnsiees are constanily reviewing variou5.projects that we fe¢1 abl¢ to &5Si5t. t)uring the year. grants made included the following- MayolRos¢omrnon Hospice - £IOO.000. A chariry registered in Irelarml providing 5peciali5t palliative care services. free of¢harge. 10 patients and families living with life-limiting illness 111 courities Mayo and Roscommon. Palliative care seTvi¢es are available to POti¢nts in iheir homes and h05piials. The charity's mission is to care and support while rneeiing both the physical and ernotional ne¢ds of patients 2nd ih¢ir loved ones. This vital service ¢nables paiients w live life to ihe full in comfort and dignity by improvtng iheir quality of life through pain control and all¢viatin8 other distressing Symptoms. Western Alzh¢im¢r's £IOO,OIMI. A charity re8Lsiered in Ireland to provide Alzheimer,MentL4 care irt the West of Ireland by mean of a purwJse- buili'home from home" overnight respite car¢ unit in Ballirbdine as well as deliverins other %rvic¢5 to [ne 5,000 families aen)ss Galway, Mayo and Roscommon. Its vision, mission and work arc all underpinned by a Cornmitment to provLde these esserttial supwjrt and setViCe5 that meet the Specific needs of people living with dementia acwss the region each year_ Its facility, Marian House. is being exiended to increase its capacity to provide 13 new en suite bedrooms. The year's donation was a contribution io the capital costs of this development. The Moming Siar. Dublin- £IOO,OIK). A charity registered in Ireland w provide accommodatitsn to homeless men. It is run eniirely by Legion of Mary volunieers. Their guiding Principle is to love one another and this provides resident5 Wlth a The5sagt of hope and supports them ot) their road io recovery and independent liviThg whetherthty are from a Christian background. anoih¢r faiih tradition or rm) faith tradition. The Knock Shrine- £86.303. This is the inteTDational Euchatisti¢ and Mariao Roman Ca(holic shrine. It 15 V151ted by pilgrims from around the world and it provides a place foi pway¢i and publi¢ worship. Ukraine Appeal £17.806. During the y¢ar, th¢.Trystr¢s soughi ty a5SiSt in the alleviation of the suffering of those flEeing the conlli¢t ith UkraLIIe. FINANCIALREVIEW The account5 comply with the ¢harity'S go¥ernLng document and with current statutory rcquirements. The a¢counis show that income for the year was £246.Ok12021-. £1.09m). The previous year intluded gains on the disposal of propErtie5 of £883.5k,' comprising a gain £769.5k on the 5a1¢ of the charity's property in Dublin which had betome surplus to requirements athd a further notional gain of £114k from the disSaI of the charity'5 Manchester PToperty which wa5 gifted to Caritas S31ford (Regisiertd ¢harity number.. 1125808) in that year. Recurring 50urce5 of intorne were marginally higher in 2022 than iTh 2021. Invesiynenf InMe Continues io be the main recurring source of income of the charity and thi5 grew to £130.8k12021.. £114.8k). Donation$ Incre 10 £96.3k12021.. £90.7k). Total expendiiure fell 10 £767.5k (2021.. £863.4k) after an increase l&st year. Although ch grants were higher by soThe £140k. thc previous year Included an addiiional £170k, which was the notional value of ihe aforementioned Manchester property that wa5 donated to Carits5 Salford. There was also a small deCree in oiher categories in Support of Brothers and rheir miThisirie5, most notsbly in Community costs which had risen in 2021. The result. before gai$/10$Ses on investrnents. was nei expenditure of £521.6k (2021= net income of £226.8k).
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART (Ch8ritable company limited by %arantee} TRUSTEES, REPORT (Continued) FOR THE YEAR ENDED31 DECEMBER 2022 FINANCIAL REVIEW (Continued) The year saw investment105se5 of £721.Ik {2021'. gain50f£316.2k). The overall su1t wa5 a decrease in increase in fvnds of £1.243m12021'. increase of £543.Ok). By the end of the year the charity'5 net assets had fallen to £8.24m from £9.48m. Of this. £910.7k is represented by fixed assets which are required for the ongoing operdiions of the charity. The balance of £7.33m consists of ihe charity's investment portfolio and its ¢&5h reserves and other workins capital. RESERVES POLICY The reserves of ihe ¢hariiy, ¢x¢luding the element represented by fixed a55ets. thereftsre stood at £7.33m at 31 December 2022. A key commitment of the charity is the ne£d to provide (OT the cJr¢ of members of the PJovince in sickness and old age and this has profound implications for the finances of the charity. M¢mbEts of ihe Province have all taken a vow of povcrty which means that all righ15 to assets and income have been given up. g¢n¢rally in favoui of the Pr(pvince. Where members earn a salary. stipend or pension this 15 paid into the charity und¢r a d¢d of ¢ovenan¢. There Is now linle or no such in¢ome wilh members bein8 past retirement age and not having occupaiional pension rights. In m05t tsses, eMberS have devoted the whole of their Working lives lo the PTovinc¢ and aTe dependent upon it for all their tetnwral needs. Although members invariably continue lo perform charitable Work long past normal T¢tirement age. if they are healthy enough 10 do so, Ihe work is ofterb noi remunerdlive and the Province mu51 provide for th¢irupkc¢p and In soThe cases thursing care. The Trusie¢s ¢s¢imat¢ that the level of free assets required fr the purposes of providing long term 5UPPOrt for rnemb¢rs is a sum in lh¢ region of £3.5m. The charity'5"free reserve5" thereforE Std at approximately £3.83m the year-end. Il has generally been the policy of the trustees io aim lo hold around two yeaTS' expendsture In TeseTV¢. Ai the y¢ar-¢t)d the level of reserves was equivalent to nearly 5 yeaT5' expenditure and is thu5 a little in cxcc55 of ihe target level set oul io the Trusi¢¢s' policy. However. the year's investment losse5 highlight th¢ tran5ilory nature of inves¢m¢pl v¢S whJ¢h dir¢rtly impaci upon reserve level5. In addition. the Trustee5 have increased the exterbt lo which the ¢han"ty'S puryos¢s are a¢hI¢V by means of grants made o third party charities and are l(K)king to increase the tspe of the charity's grani-making. Th¢ TnJstee5 will a5ses5 reserves levels in the light of Pential new areas of expenditure. In addiiion to the commitment to care for members. restrves are requirtd :_ provide for the repl¥eTnen¢ and refuibishment of buildin. provide fot new missions around the World- and provide working capital for the operatiovs of ihe charity. INVFSTMENT POLICYAND PERFORMANCE Investments in equities. fixed income sio¢ks and cash over the long ienn should enhance real value by means of a diversified portfolio with medium risk. The Trustees have e51ablished an ethical Investmethi policy and have communicated this to their Fund Managers. The policy state5 that'no investments are to be made in companie5 which are predominantly involved in the production of armameni¥ tobacco or atrfjrtion Products". The quarterly report5 of th¢ snvestment manag¢r5 compare rfOrnIanc¢ with a number of r¢l¢vani indi¢es and comment thereon. The iotal l¢luin on tht charity's investments in the year w&s -12.7Yo {202I.. +IO.O%I. Thi5 repTe5tntd a slight under- peTforman¢e againsr ihe average5 quoted for the chority sector for the year. The Tru5tee5 will ketp ihe perfomance of investmerbts under review.
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART IChAritable company limited by guaranttt) TRUSTEES. REPORT (C•zbiirtutd) FOR THE YEAR ENDED31 DECEMBER2022 FUTURE PLANS The Trustees will continue io monitor closely the ¢ffec(ivene$5 and viability of all of the dlarity's a¢¢ivities with a view to ¢t)suring thai th¢s¢ ¢ontinue for &$ long as possible. in the lightof th¢ in¢r¢asing age profile of the m¢mrSOf the Prtsvince. They will also consider how best to further the rharity's purposes by means of gfdnts made to third.part charities with objecis and aims in keeping with those of the charity and the Congr¢gatLThI. STATEMEIYT OF TRUEE5. RESPONSIBILITILS The Trustees (who are also direciors of The Alexian Broihers of the Province of the Sacred Hean for ihe purposes of company law} are re5w)nsible for preparing ihe Trusiees. Report and the financial statemenis in ac¢ordaD¢e with applicable law and United Kingdom Accounting Standards (Uniied Kingdom Generdlly Accepted Ac¢tsunling Pta¢ti¢el. Company law requires the Trustees to prepare financial siaiemenis foreach fiThaThcial year. Under company law, the ttusiees tnust not approv¢ th¢ financial statements unltss they are 5atisfi¢d that they give a irne and fair Vltw of the state of affairs of the company and of the it)come and expenditure of thc company forthat period, In weparing these financial statemcnts. the trusiees are required to: select suitable ac¢ourtling poltcies and then apply them consi5tently' observe the meihods and principles it) ib¢ Charities SOiiP. make judgment5 and accounting e5timatts thai ate reasonable and prndent- state whether applicable UK Aecounting Stsndard5 have betn followed, subj¢¢t io any M•tri departure5 disc105ed and explained irt the financial staiemenis- prepare the financial statements on ihe going concern b&sis unless It is inappropriate io presume ihat ihe ¢hariiabl¢ company will continue in business. The Trustees are resFx)nsible for keeping proper ¥nting records thai disclose with reasonable a¢¢ura¢y ai any lime of rh¢ financial position of the thariiable ¢ompany and enable them io ensure that the financial 5tattments comply wilh the Companies Aci 2006. They are also spOnsible for saf¢guardirtg the &sseis of the charitable company and hcncc for taking reasonable step5 for the Pf¢vention and detection of fraud and oihei Jrregulariries. So far as each of the Trustees Is aware at the iimt the is approv. Ihere is no Televanl audit infortnation of which the charitablt company'5 auditots are unawart. and the Trustee5 have taken all 5tepstha¢ they ought ¢0 hav¢ takert make themselves aware of any relevant audit inforniotion and to esttblish that the auditors are aware of thai infcmatioth. The Trustees, Report has been prepared in accordance with the Special provisions of Part 15 of ihe Companies A¢t 2006 relating to 5rnall companies. The Trustees. Rewrt was approved by the Board and signed on their behalf on 28 S¢piember 2023 by.. Dermot O'Leary Twstee
Independent auditor's report to the members of The Aleyian Brothers of the Province of the Sacred Heart Opinion We have audited the financial statements of The Alexian Brothers of the Pwyince of the Sacred Heart for the year ended 3 l December 2022 which comprise the Statement of Financial Activities. Balan¢¢ Sheet, Statement of Cash Flows and notcs to ihe financial statements. including asummary of 5ignificantaccounling policies. The financial reporting framework thai has been applied in their preparation is applicable law arml United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporling SiaKdordapplicable in ihe UKandRepublic oflreland{Uniied Kingdom Generally Aecept¢d A¢¢ounting Prarticc). In our opinion, the fJnan¢ial stat¢m¢nts'. give a true and fair view of the state of the charitable company's affairs as at 31 Deeember 2022 and of (h¢ charitable compaThy's net movemeni in fvnds. including the income and expenditure, for Lhe year then ended- have been properly pr¢par¢d in aCrd¢¢ wilh Uoiied Kingdom Genernlly A¢¢¢pi¢d A¢countin8 PrdCti¢¢,' and have been prepartd in accordance Wbth ihe requirement5 of the Companies Act 2006. BASIS for opinion We conducted our audit in accordanct with International Stsndards on Auditing (UK) {ISAs {UKI) and applicable law. Our respM)Dsibililies under those slandards are fvrther described in the Audiior'5 re5ponsibilitie5 forthe audit of the financial staternenls section of OUT report. We are independerbt of ihe charity irb accordance with (he ethical requirements that are relevant to our audit of the financial statements in ihe UK, including ihe FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe thai the audit evid¢nce we have obthined is sufficient aad appropriate to provide a basis for ouropinion. Co#elusion$ relting to going coneern In auditing the financial statemenis. we have concluded the int5tttS' Use of ihe going concem basis of accounting in the preparation of the financial statements is appn)priaie. Based on the work we have perfornied. we have not identified any material uncertainties relaiing to event5 or conditiorts that. individually or Collcctively. may cast significant doubt on the charitable company's ability lo contine as a going concern for a period of at least twelve rnonths from when the financial stsmtnts are authorised for issue. Our re5pofbsibilities and the re5FK)nsibilities of the twuslees wilh respect kn going concern are descxibed in the relevartt 5CCtion5 of this report. Other information The trustees are responsible for the other inforniation. The other inforn)ation comprises the infomiaiion Jncluded Lrt the Tru5te¢5' Report. (r opinion on the financial staitments dot5 noi eover rhe other Information and, except to the extent otheTWi5¢ explicitly stated in our reFrt. wt &) not express any forni of assurance conclusion ther. In connection with our audit of thc fiThancial statements, our restKJnsibility is to read the other infomlation and, In doing so, on5id¢r whether the other information is materially inconsistent with the financial statements or our knowledge obtained in ihe auditor otherwi5c appears to be materially misstated. If we identify such material Inconsistertcies orapparent material mis51atem¢nts. we are required to determine whether there is a material missiaiement Jn the fkn3ncial statemenis or a material misstaternenl of the other infornation. If, bd on rhe we have perfomied, we conclude ihal there is a material misstatement ofthis other it)fom)8tton. w¢are r¢quited to rep)rtthat fa¢t. W¢ have nothing io report in ihis re8ard. Opinion5 on other matter5 prescribed by the Companies Att 2006 In our opinion, based on the work undertak-en in the ¢OUTse of the audit- Ihe Infoimaiion given in iheTrusiees' Report (which include5 the 51fdtegic report and the directors. report prepared forthe purposesof company law) forthc financial yearforwhich ihe financial staiements are Prepared is wnsistent with the financial sratements. and the strategic report and the dir¢ttors' rewirt Éncluded within theTru5tee5' Report have been prepartd in accordance with applicable legal requirernents.
Independent auditor'5 report to the members of The Akxian Brothers of the Provinee of the Sacred Heart (continued) Matt¢rs on whieh we Are requsred to report by txceptio In the light of the knowledge and understandins of the charitable cornpany and its environment obtained in the course of the audit. we have not identified malerial misstatements in the TnJsltts' Report (which ]n¢0Orat¢S the siraiegic repon and rhe directors, rertI. We have nothing to report in Te5pect of the following mattets in rt1a1rt io which ihe Compani¢s Act 2006 requires u5 to rep)rt to you if, In our opinion.. adequate ac¢ounting re¢ords hav¢ not been kept by the charitable u)mpany. or lern$ adeque forour wjdit have not bcen receivtd from branches not visited by us- or Ihe charitable company financial statements are not in agrtemen¢ with the a¢couniing records and returns,. or certain disclosures of trustees. remut)¢ration specified by law are not made.. or we have not received all the inforniation and explanaiions we require forour audit. Responsibilities of trustee5 for the finaTrci81 stterntnts As explained more fully in the trustees. responsibilitles Statement sei out on page 5 th¢ twst¢es {who are a150 the directors of the charitable company for ihe purposes of compaThy law} are responsible for th¢ prepaTation of the financial siaiem¢ots and for being satisfied that they giv¢ a tnje and fairview. and lor such internal control as the irustees det¢Tmine is ne¢essary to enable ihe prepardtioD of fiDan¢ial stai¢ments that are free from material missthtement. whtther due to fiaud 01 error. In preparing the finanrial statements. the inLStees ar¢ r¢spon51ble for assessing the charitable company's ability to continue as a going concern. disclosing. as app15¢able. mall¢rs relaied to going concern and using the going concern basis of accounting unless Ihe Iru5tee5 citr intend to liguidale th¢ charithble company or to cease opErations. or have realistic ali¢rnaiive bul to do so. Auditor's responsibilitie5 for the audit of th fiTrantil $txtem¢nts Our objectives are to obtain reasonable assurance about wheiher the financial statements as a whole are free from material Issiatemeni, wheiherdue to fraud or error. and to issue an auditor's rep)rtth81 includes ouropLnion. Reasonable assurance is a high l¢v¢l of assuranc¢, but 15 not a guardntee that an audit ronducted in accordance wilh ISAS (UK) will always detect a material missta¢emertt when Lt exists. Mis5taiements can ar1 from fraud 01 errol and are ¢onsid¢r¢d material if, individually or in ihe oggregate, they could re&sonably be expected to influence the 001¢ decisions of users rak¢n on the basis of these financial siements. Irregularities. including fraud, are instances of non-compliance with laws and regulatiortk We design predr¢S in line with our responsibilities. outliD¢d above, w detect malerial missialements in re5cl of irFegularitlES. including fravd. The extent io which our procedures are ¢apable of de11[1£ in¢8ularities, including fraud is detailed below.. Based on our undcrstarbdiag of the charitable company and ihe environment in which it operate5. identified ihat the principal risks of non-compliantt with laws and Tegulations relaied io compliance wilh Canon Law. Companie5 Act 2006. Charities Act 2011, employment law and he(h and safety regulaiions, and we considered the extent to which [n- compliance might have a material effect on the financial statements. We also ¢onsid¢r¢d ihose laws and regulations that have a diieci Impact on the preparation of the financial statements such as Canon w. Companies Act 2006, Charities Act 2011. The Statemeni of Recommended PrdCti¢e for Charities (SORTr 2019) and FRSIO2. We evaluated Thanagemenf's inceniives and opp)rtunities forfraudulent manipulation of the financial Slatemenls (includithg the risk of override of Conirols). and deieTmined ih21 the principal risks were relaled to recognition of incoffle and management bia5 in certain a¢¢ounting esiitn8ies. Audit pro¢edures perfornied by the ensa8ement team included: Inspeciing mintstes of irusiees. meetings-, Inspecting wrresp)nden¢e wilh regulots and tax altIes. Discussions with management bncluding consideration of k or suspected Instat)¢es of t)ot)-compliat)¢e with laws and regulation and fraud; Evaluating management's controls designed prev¢ni and deteci iTregularitie5,' Idenrifying and te51jn8 journal4 in particular journal eTbtries posied ai the year-end or with unusual d¢s¢riptiotlS' alld Challenging assumptions and judgements mad¢ by management in their ¢riii¢al auntIng ¢stimat¢, b¢in8 the depreciation of fixed assets.
Independent auditor's report to the Members of The Alexian Brothers of the Province of the Sacred Heart (continued) Because of tlte inherent limitsltOn5 of an audit. Ihere is a risk thal wc will not deteci all irregulariti, inclllding those leading lo a tnaterial mi5Statemtnt in thc financial statement5 or non-cornpliance with reglatIon. This risk incr¢e$ rhe more that compliance with a law or regulation is removed frnm ihe event5 aNI transactions refle¢ted in the financial statements. a5 we will be less likely io become aware of instancts of non-compliance. The risk is also greater regarding irregularitie5 occurring due to fraud rather thart errnr, &$ frnud involve5 intentional concealmethi. forgery. collusion, omission or misrepreseniaiion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at". www.fre.o .uklaudilO nsibilLties_ This description forms part of OUT auditor's report. Vse of our repoTt This report is made solcly to the charitable company's rncmb¢r5. a5 a iw)dy. in ac¢oidartce with ChaMer 3 of Part 16 of the Cornpani¢s A¢1 2006. Our audit work has be¢n vrertakell so thai we might state LO the charitable company's mtmbu5 those matters we art requirtd to state to th¢m in an Audito¢s report and forno othei PU4KJse. To the fullest extent permitted. by law, we do not acceptor assume r¢sF¥)n5ibility toanyone other than the charitable company and th¢ ¢haritable rompany's members a5 a body. for our audit work. for thi5 r¢porU or for the opinions w¢ have formed. Jan¢ Ask¢w (S¢nior Statutory Auditor) For and orb behalf of Hay5macintyT¢ LLP. Statutory Auditors 10 QUE¢ Street Pla¢e London EC4R IAG Datt.. 28 September 2023
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART (Ch¥Jritable limited by guaranttt) STATEMENTOF FINANCIALACTIVITIES FOR THE YEAR ENDED31 DECEMBER1022 2022 21121 Notes INCOME FROM". Donations and legacies 96.289 90,722 OihEr trading activit1¢5 Renls receivable from charitable-U prDperties ternp)rarily 5urplu5 to operational requiremerbts 1.190 Inv¢simen 130,827 114,790 O¢heT - Gain on ¢UTren¢y conv¢rsion Gain on disposal of fixed assets 18,834 883.506 Tot91 income 245.950 1,090,208 EXPENDITURE ON: Raising fvNI$ Investment Management fees 28.035 26.719 Cosi of aciiviiies in furtherance of the Charity's obj¢¢ts - SuprJ)rt of Brothers the Congregation and their rninistri¢s 739.491 836.704 Total exp¢ttditttre 767.526 863.423 Net Intomellexpenditurey before gain51(1¢)ssesl on investments (521,576) 226.785 Net gainsl{losses) on quoted investments (721.144) 316,228 Net ineomel(expettditure)and movement in funds (1,242,720) S43.013 Total funds brought for¥rdrd 9.482.574 8,939,561 Total funds c9rried forward £8239.854 £9.482.574 No sutntnary Income 3nd EXperltreAcCQUfi1 ha5 I£n prepared because (he inlom)aiion required by ihe Companie5 Act 2006 is clearly shown in (he at¥¢ srdrement. 'nK Ncl incomeJ&xpenditure befo[¢ UnrealigaInS and losse5 represenrs the net Surplus for the year. The charitable Company had rttognised gains or losses otheT than as disclosed IA Ihe StswncThi of FInCIal Adivitics for thc rinancial year ended 31 D¢ccmbEr 2022 and 31 De¢cmber 2021. The accompYing Th)tes fom) port of these fitLancial smements.
THE ALEXIAN BROTHERS OVTHE PROVINCE OFTHE SACRED HEART (Ch#ritable compAny limited by guarant¢e) Company nMber. 11773307 BALANCE SHEET AT31 DECEMBER 2022 2022 2021 Notes FIXED ASSETS Tangible assets Investmertts 12 13 910,650 4.317.019 1,029,575 4,647.121 5,227,669 5,676,696 CURRENT ASSETS Debtors Short ierm deposits Cash and bank balances 14 10,071 2,000,0 ,029.1 14 ,304 2.000,000 1,829,624 3,039,185 3,837.928 CREDITORS: amoun15 falling due within one year 15 (27.000) 132,050) IYETCURRENT ASSETS 3,012,155 3,805.878 TOTALASSETS LESS CURRENT LIABILITIES £8.239.854 £9.482.574 Rtpre5ented by - ACCUMULATED RESERVLS Unrestricted Fund5 £8.239.854 £9,482,574 Of the Accumulattd Reserves shown above. £126.640 relates to unrealised losses on investsnethis (2021.. unreali5ed 8ain5 of £780.138). The financial statements were appToved and authorised for issue by the BoaTd on 28 September 2023 and wer¢ sign¢d below on its behalf by.. t bv Dermot O'Leary Trustte The accompat)ying noits form part of these financial statcrnrnt 10
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHESACRED HEART (Charitable company limited by guarantee) YEAR ENDED 31 DECEMBER 2022 IYOTE OF HIoR[CALC0Sr SURPLUSESAND DEFICITS 2022 2021 Net movernenl in fvrKIs (1.242.720) 543,013 Unrealised losse51(gain5) on investments 459.386 (306.448) Realised losses in market value adjusted to co 447.392 138.884 Histori¢al cost defLCLtysllrplus for the year £(335.942) £375.449 The ac¢ornpanying t)otes form part of ih¢s¢ financial sw¢ments.
THE ALEXIAN BROTHERS OF PROVINCE OFTHE SACRED HEART (Charitable comp#Thy limited by gUaTaTrtee) CASH FLOW STATEMENT FOR THE YEAR ENDEDJI DECEMBER 2022 2022 2021 Cash flov5 from Operating Activities N¢t c&sh used in operatin8 a¢tiviit¢s (529.939) (469,449) Cash flows from investing actiwitits Dividends and interest from invesimenis Payments io acquire fixed assets Proceeds from Sale of fixed assets Payments io acquire investments Receipts from Sales of invesiments 130.827 (10.356) 114,7 1,027,731 (815,961) 844,487 (1,971.455) .580.413 Net cAsh provided by iThv¢sting Adivilies (270.5711 .171.047 Change in eash Ind tash equivwltnts year (800,510) 701,598 Cash and cash equivalents at I January 2022 3.829,624 3,128.026. Cash and cash equivalents at 31 De¢emb¢r 2022 £3.029.114 £3329.624 Noies lo the Qsh Flow Statemtht A. Reconciliation of Det movement in lllttd$ ¢0 net Ilow fro tyerating aftivities 2022 2021 Ntt movement in funds {As p¢Y ihe St•i¢me#i of FiTh*nri#l Activitie5) (1,242.720) 543,013 Adjustment$ for Lossesl{gainsl on invcskncnt$ (Gains) on disposal of Fixed Assets Dividends and interest from investments Dtpr¢¢iation Noiitsnal value attribuied to property donated to third party charity Decrea5elllncreasel In debtors IDecrea5eylncrea5e in creditors 721.144 {316,228) 1883.506) (114.7901 126.692 170.000 (4.480) 9.850 {130.8271 129.281 (1.767) (5.050) Ntt tAsh (used in) operating 4Clivities £(529.9391 469,449) B. Analy5i5 of ta5h and ta5h equivalents Cash al bank and in hand 3.029.114 3.829,624 Total cash and cash eguivalents £J.029.114 £3J29.624 C. An#lysi$ of tbartges itt rtet tA$h funds At l Jxnthary 2022 At 31 December 2022 Cashllows Cash ai bank and in hand 3.829.624 (800JIO) 3.029.114 Total cash and cash" equivalet)ts £JJ29.624 £(85111) £3.029.114 12-
THEALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART {ChaTltble tompany limited by Eur*ni¢£) PRIP4CIPALACCOUNTING POLICIES FOR THE YEAR EiYDED 31 DECEMBER2022 The principal arcounting wlicies adopted, jud8tments and key sources of estimation uncuiainty in the prepararion of the accounts arc laid out below. BASIS of PttPArAtion The finan¢ial striemertts have b¢en prepared in accordance with Statement of RecomTnended Praciic¢ for Charities ISORP 20151 (Second Edition, effective l January 2019). the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS102) and the Companies A¢1 2¢JO6. The charity meets the definititsrb of a publi¢ benefii entity under FRSI02. Assets and liabilitie5 are initially recogni%d at. historical cost or irdn5action value unle55 otherwi slatd in the r¢levant accounting P)licy noie(sl. Critical i¢tounting estimgtes gnd arcfjs of judgcrnent Preparation of the accounts require5 the Trust¢e5 ¢0 m3ke significant judg¢ments and estimates. The item5 in the account5 where these judgements and e5tiMalE5 have been ade include". estimaiing the economic useful life of thngible fixed assets. Ass¢$$m¢nt of going toncern The TTU5tC¢5 have assessed whether the use of ihe going concern assumption is appropriate in preparing these accounis. The Trustees have male (his ass¢ssmeni in respect a period of one year from the date of approval of these a¢counts. The Trusiees of the chariiy have concludcd that there arc no material uncertairtlies related to eveThis or condition5 thai may casi significartt doLLbi on thc ability of the charity to continue as a going ¢on¢em. The Tnjstees are of the opinion that the charity will hav¢ sutTscient resources to meet its liabililies as they fall due. The mosi signifieani areas of judgement ihat affect items irt the accounts are detsiled above. With regard to the next accounting petiod. the y¢ar ending 31 D¢cember 2023. the most significant a85 that affect the carrying value of the asset5 held by the charity are the level of investm¢ni retUTn and the performance of the invesimeni maets (see the investment )lICY and the risk rnanagernent se¢¢ions of Ihe TTU5tees' Report for mor¢ infomiaiion). Ineome ntognition In¢ome Is re¢ognLsed when Iht charity has entitlement to thc fur$. any perfomiance conditions attached to the item(5) of income have been met, it is Probable thai the in¢om¢ will be re¢eiv¢d and ihe amotsnt can be measured reliably. For legacie5, entitlement is taken as the earlier of the date on which either.. the charity 15 aware that probate has been Branted, the estate has been finaliscd and notjfitation has been made by the execuior(sl to the Trust ihat a distribution will be made, or when a distribution 15 reccived from the estaie. Receipl of a legacy, in whole or in part, is only considered PTobable when the amount can be measured reliably and the ¢haT¥ty has been notified of the exe¢utor's intention to make a disiribution. Where legacies have been noiified io the charity. or the ¢haTity Js aware of the granting of probate, and the criteria for income Tecognilion have not been met, then the legacy is a ireated ls a contingent 3$5¢t avd disclosed if tnaierial. lricome received in advance of the provision of cate services Servi li is deferred uniil the criteria for income recognition are met. In accordance wilh th¢ Chartti¢s SORP FRS102, volunleer time is N)t recosni5ed. Dividends are recognised once the dividend betn decl¥Ted and nolification has been re¢eived of Ihe dividend du¢. Interest on fijrbds held on derK)sit 15 included when receivable and ibe amount can be measured reliably by th¢ charity. this is normally upon notification of the interest paid or payable by the bank. 13
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART (Charitable compAny limited by guarantee} PRINCIPAL ACCOUNTif4G POLICIES FOR THE YEAR EIYDED31 DECEMBER 2022 Expenditurt retognition and irreeovtr*ble VAT Expenditure 15 recognised once there is a legal or construciive obligation to make a paymenr io a rhird party. it is probabl¢ that settlemeThi will be required and the amount of ihe obligatÉon can be mtasured reliably. Expenditure is classified und the following aciivity headings". Cosis of raising funds comprise fees paid in respe¢r of fund management advice in relation io the charity'5 portfolio of quoted investments. which is managed vthder a discTetionary management agreement. ExndItUre on charitable artivities include5 all rosts associatrd with furthering the ¢hari¢able purp)ses of the charity through the provision of its charitablc activitj¢5. These wsts Comprise ¢haritsble grants and donation5. direct and support Costs in respect to the suppjrt of membws of th¢ Congregation and their rnini5try. It also includes governance costs. Charitable grdnts and donation5 are made where the Trustees consider thefe is real n¢¢d following a ¥1¢W of th¢ dc¢ai15 of each particular c&se and comprise single year payments rdihtr than multi-year grdnts. Grants and donat10115 aT¢ in¢lud¢d in the statement of financial actlVLties when approved for payment. Provision i5 made for grant5 and donations approved but unpaid at the period end. Irre¢overable VAT is ¢harged as a ¢osi agaLnst the activity for which the expenditure was Èneurred. Allocition of $upport governance costs Support cost5 Ttpre5ent indirect charitable expenditure. In order tt> ¢any out the primary Purposes of the charity il is necessary to provide supp)rt in the forni ofpersonnel development. financial pNKedures. provision of office services and equipment and a suitable working environment. TAngible fixed a55ets Individual fixed assets costing £2,500 or m(Ke are capitalised at COSt and are depreciated over their estimated useful economic lives on a strdight-line b&si5 follow5-. Annual rate Fieehold land Freehold buLldings Refurbishment and alterations FbxtUS and plani Motor vehicles 2-10% 2% 15-33.3% 250h FinAntial In5trurnent5 The charity only holds financial asseis and finan¢ial liabiliLi¢s of a kind that qualify &$ basic fjnancial instruments. Basi¢ fJnan¢io1 instruments are initially re¢ognised ai tsansa¢iion value ONI subSeqen11Y measured at their settlement value. 14-
THEALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART {ChAritable cornpany lirnited by guxr*ntee) PRINCIPALACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2022 D¢btors Trade and other debtors are reco8nised at the settlement amount due. Prepayments are valued ai the amount prepaid. C#sh #t bank #nd in hlnd Cash at bank and in hand includes cash and slK)rt-term highly liquid investments with a short maturity of ihree months or less from the date of acquisition or opening of the deposlt or similar account. Dew5i1s for more ihan three months and up to one year have been disclosed as short-terni d¢wsiis. C&sh placed on dep051t for more than one year 15 dI10$£d as a fix¢d assw investment. Creditors and prowi510115 Creditors and provisions are recognised where ihe charity has a present obli8atioii resulting from a p&5t event that will probably result in ihe transfer of funds to a third party and ihe amount dlle (o settle the obligation can be measured or estimated reliably. Crediiors and provisions are nomially r¢cogNised aLtheirs¢lllemeni amouni after allowing forany trade discounts due. S¢rvic¢5 prnvided by members ofthe Congregatio Forih¢ puwses ofihese accoun, value has bttn placedon administs3tive and othcr services provided by the m¢mrS of the Con8regalion. Foreign currencies Asseis and liabiliiies in foreign ¢tsrrencies are translated into sterling at the rdte5 of exchange ruling at the balance sheet date. Transaciions in forei8n ¢tsrr¢ncie5 are traThslated into sierling ai the fdte of exchange ruling at the dale of the tTansa¢tion. Ex¢hange differen¢¢s are taken into xcouni in arriving at the nei movement in funds. iaSed assets Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor aTe ¢harged to the Statement of financial activities on a slrdi8hi-liThe basis over the terni of the lease. Leases are cla5sifJed &$ f>nance leases whenever the tenns of the I¢ trarb5fer substantially all of the risks and rewards of ownership to the charity. Assets held under finance leases are recognised initially at the fair value of the leased a5se15 (or. if lower. the Present value of ihe minimum lease payments) ai ihe JTh¢eption of the lease. The corresponding liability to the lessor is recognised as a finance ltsse obligation_ Lease payments are apwjnioned beeen finante charges and the reduction of the lease obligation u5ivg the effective int¢r¢st method in OTd¢r to a¢hieve a consiant Tate of Interest on the Ternaining balance of lh¢ liability. Finance ¢hwE¢S charged to the siatem¢ni of fJnarKia] a¢iivities. Ass¢ts held under finance lea5e5 are capitalssed and depreciated and assessed for irnpairment losses iv the sam¢ way as owned assets.
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHE SACRED HEART (Charitable cornpany limited by guarantee) iYOTESTO THE FINANCIALStAT£MEIYIS FOR THE YEAR ENDED31 DECEMBER 2022 DONATIONS AND LEGACIES 2022 2021 General donations Pensions doal¢d by membeTS of ihe Cothgreg*iot) 35,247 61,042 21.315 69.407 £96.289 £90,722 INVESTMENT INCOME 2022 2021 Income from listed investments Bank interest 119,852 10,975 114.528 262 £130,827 £114,790 SURPLUS ON DISPOSALOFTANGIBLE FIXEDASSETS 2022 2021 DisposAI of Dublin gnd MaThclhester propertie5 Proceeds (nei of cosrs) Net ix)ok value 1.197,731 (314,225) Gain on disposal of fffehold property £883,506 Noie- the pro¢e¢ds in 2021 include a noiiothal figu of £170,000 in resp¢¢i of ih¢ charity's Manchester property which was gsfted to Cariias Salford in 2021. This figu is included in E%)naiions - s¢e Noie 4 below. EXPENDITURE ONCHARITABLEAcfiviTIES 2022 2021 Suppfyrt of Bothers of the Congregation and their miniMrie5 Grants io overseas actlvilies of the Alexian BJDthers Other chariiable donations and grants (see below} Noiional value of property dortated Depreciation Community Costs. Governan¢e and Supp)rt ¢osts (note 5) Losses on Iranslation of foreb8n currencies 13,855 403.564 13,370 263.810 170,000 126.692 220.014 29.959 12,859 129,281 166,374 26,417 £739.491 836,704 Other charitable donAtions & grants comprises: Mayo R05common H05pice Foundaibon Western Alzhtimer5 The Morning Stsr. Dubli Kn(Kk Shrine Ukraine Appeal rracy House l HomEless Other I.0[) I(,000 100,000 86,303 17,261 127.882 63.267 63.315 8,010 1,336 £403.564 £263,810 16
THE ALEXIAiY BROTHERS OFTHE PROVINCE OFTHE.SACRED HEART {Ch4rit8ble ¢ompxny limited by guar*nttt) NOTESTO THE FINANCIALSTATEMEf4TS FOR THE YEAR ENDED31 DECEMBER2022 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS 2022 2021 Auditors. remuneration - Currenl year Prior"y¢ar Under-a[al 11,000 2,050 8.750 3.360 13,050 1.183 Oiher- Company Secretarial services 1,183 14.233 10.273 13,293 12.200 4.466 Other professional fees Legal fe¢5 £26.417 £29.959 NET INCOMEIEXPENDITURE FOR THE YEAR 2022 2021 This is st¥t¢d xfter thgrging: Investment managernent ftes DepreciatioTh (GainsVLosses on translation of foreign curtencies Auditors remuntration - Audit fees - Other services Legal fees 28,035 129.281 (18.834) 26,719 126,692 12,859 13.050 1.183 1.183 4.466 srAFF COSTS AND STAFF NUMBERS 2022 2021 Wages and salaries Social security Costs Other pension Costs 23,666 3,6 17.416 2,492 27.356 £19,908 The average number of employ5 in thc ytsr was". TRUSTEES. REMUNERATION AND KEY MANAGEMENT PERSONNEL The charityTrustees are not paid and do noi receiv¢ any other FKnefL15 from employment with the Tiust in lh¢ year (2021.. £Nill rbeirher were they reimbursed expEnse5 during (he year (2021.. nil). No charity trustee received payment for professional or other services supplied to the Chlty1202l'. £Nil). However, the living costs of ihe Tiustee& who are all members of lh¢ Congregation. are IK>me by the charity- see Noie 9. The key managcment personnel of the charity are PTovided by ihe Twusiees, who are rK>t remunerdted.
THE ALEXIAN BROTHERS OFTHE PROVINCE OFTHESACRED HEART (Chritable tompa)ny limiled by EW#T¥llte¢) NOTESTOTHE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 TRANsAloNs WITH THE TRUSTEES The Trusiees of ihe Charity ar¢ also m¢mb¢rs of ihe Congregaiion and as such have taken vows of poverty under which they hav¢ renoun¢ed all personal rights to income and capital. The Charity provides for th¢ essential need5 of all members of the COnggai10n within tb¢ Provin¢e_ Th¢ livin8 costs of the three Truste¢s are therefore bome by the Charity. Th¢r¢ We no thher related party transxiions (2021- None). 10. TAXATION Th¢ Charity is exempi from tsx on iD¢om¢ and gains flittg wiihin se¢iion 505 of the Thxes Act 1988 or se¢iion 252 of ihe Tation of Chargeable Gains Act 1992 to th¢ ¢xnt that these ¥e applied io its ¢harithbl¢ obj¢¢is. COMPANY STATUS AND ULTIMATE CONTROL The company is limited by gu2rnt)ie¢ and do¢$ not have 8 Sha ¢apithl. Tr members. liability 15 limiied. Every member of the Congr¢gation of ihe Al¢xiat) Bioth¢rs undettskes to conrribu(e up io £1 io the assets of the ¢ompany 15 ¢h¢ eveji of li b¢ing wound up. 12. TANCIBLE FIXED ASSETS: Olfiee Equipment & Furniture Freehold PToperties Molor VthirlÈs Tot#1 COST OR VALUATION At l January 2022 Additions Disp05als 1,618,138 50,138 10,356 (43.1381 152,134 1,820.410 10.356 (155.249) At 31 Dttember 2022 1,618,138 17 J56 40.023 1,675,517 ACCUMULATED DEPRECIATION At l January 2022 Charge for year Eliminated on disposal 600.251 123,505 50,138 2,589 {43,138) 140.446 3.187 790,835 129,281 (155,249) Ai 31 December 2022 723.756 9,589 31,522 764,867 IYET BOOK VALUE Ai 31 December 2022 £894.382 £7,767 £8.501 £9IO.650 Ai 31 De¢embtr 2021 £1,017,887 £11.688 £1,029.575
THE ALEXIAN BROTHERSOFTHE PROVINCE OFTHESACRED HEART (Chari¢ble tompny limited by tuatanttt) NOTESTO THE FINANCIALsfATEMENTS FOR THE YEAR ENDED31 DECEMBER 2022 13. INvEsfMES 2022 2021 Market value ai l January 2022 Additions Diswsals Proceeds (LosstsyGains 4.647.121 1,971,455 4.359,459 815.961 {1.580.413) (261.758) (844,4871 9,780 (1.842.171) {459.386) {834.707) 306,448 N¢1 unr¢alised investment (lossesy gain5 Market value ai 31 De¢ember 2022 £4,317,019 £4,647,121 Cosi at 31 December 2022 £4,443.659 £3.866,983 2022 2021 Li$t¢d on a UK stwk exchange UK Fixed Interesi Overseas Fixed Interest UK Equiiies North American Equitie5 Ellrope lex UK) Equities Japan EquJLies A$12 Pacific lex Japan) Equities Emerging Madcets Index-liryked "Ki¢k.ovt- Bond Global Other Aliemaiives 492,605 459,463 898,568 541.512 141.535 49.659 593,216 502.324 1.010,390 990,335 383.797 97,838 98.841 26.348 126,113 438.170 153.616 868.008 913.619 4,169,249 4,616,708 General Cash and Short Malurity Bonds 147.770 30.413 £4,317.019 £4.647.121 14. DEBTORS 2022 2021 Prepaymethts and accnjed Incom¢ £10.07] £8,304 15. CREDITORS: Amounts falling due within one year 2022 2021 Trade credittys A¢¢ruals 7,800 24,250 27.000 £27,(0 £32,050 19-