2021-12-31-accounts

			Page
Report ofthe	trustees
Independent	examiner's	report
Statement of	financial	activities

For the ye	ar ended 31Decemb	ar ended 31Decemb	er	2021
Reference	and administrative		de	ils
Charity number					233769
Address					Ursuline Convent
					1 Glamorgan	Street
					Brecon
					Powys
					LD3 7DW
Trustees					Sister Mairead	O*Regan
					Sister Angels	Anne Murray
					Sister Marianne		O'Connor
					Sister Margaret J Carr
Person responsible		for day to
day management					Sister Angels	Anne Murray
Reporting	accountants				W JJames'	Co
					Chartered Accountants
					Bishop House
					10Wheat Street
					Brecon
					Powys
Bankers					Lloyd Bank pic
					38 High Street
					Brecon
					Powys
					and
					Cater Allen Ltd
					Pembroke House
					15Pembroke	Road
					Clitton
					Bristol
Solicitors					Red Kite Solicitors
					48 Free Street
					Brecon
					Powys
Investment	advisers				Mr Daniel Curtis
					Portfolio Director
					Schroder &Co Ltd
					12,Moorgate
					London
					EC2R 6DA

Year ended 31Dece	mber		2021
					Unrestricted	funds
					2021	2020
Income:				Note
Pensions					21,267	28,064
Investment income					475	548
Rent ofproperty					5,000	5,000
Gills and legacies					35,805	776
Other income					983	100
Total income					63,530	34,488
Expenditure:
Raising funds:
Investment management			costs		8,476	10,269
Expenditure on charitable		activities:
Staffcosts					4,637	4,854
Provisions					1,927	2,507
Rent						500
Rates, water and	insurance				2,146	6,881
Light and heat					2,346	5,868
Maintenance and	repairs				6,623	9,316
Household goods					734	1,997
Telephone, postage and			stationery		1,794	2,853
Grounds maintenance					896	269
Travel					2,279	3,046
Medical					5,406	3,444
Personal expenditure					910	180
Education, courses and			on-going formation		3,505	3,600
Donations and gifts					519,558	2,874
Bank charges					48	35
Sundries					1,032	600
Depreciation					3,124	9,765
					556,965	58,589
Governance costs:
Religious					1,005	1,647
Central fund					1,352
Reporting accountant					1,512	1,512
					3,869	3,159
Other resources expended:
Pensions					5,985
Total expenditure					575,295	72,017
Net income/(expenditure)			and net movement
in funds before gains and			losses
on investments,	c/d				(511,765)	(37,529)

Year ended 31December	2021
			Unrestricted		funds
			2021		2020
Net incoming/(expenditure)	before gains/(losses)
on investments, b/d			(511,765)		(37,529)
Net gains/(losses) on investments			49,333		15,296
Net income/(expenditure)			(462,432)		(22,233)
Other recognised gains/(losses):
Accumulated depreciation	written back on	freehold
property now recognised as an investment		property	24,000
Profit on disposal offixed	assets		218,442
Net movement in funds			(219,990)		(22,233)
Unrestricted funds brought	forward		1,498,831		1,521,064
Unrestricted funds carried forward			1,278,841	1,498,831

as at 31De	cember 2	021
					2021		2020
			Note
Fixed assets
Tangible assets					141.,096		586,148
Investments
Freehold property					150,000
Quoted investments					710,232		1,022,806
Unquoted investments					14,752		13,272
					1,016,0SO		1,622,226
Current assets
Debtors				1,079		209
Short term	deposits			130,870		126,692
Cash at bank				275,386		22,641
				407,335		149,442
Creditors:	amouats	falling due
	within one year			(1,524)		(1,512)
Net current	assets				405,811		147,930
Net Assets					1,421,891		1,770,156
Funds
Unrestricted	funds				1,278,841		1,498,831
Revaluation	reserve				143,050		271,325
					1,421,891		1,770,156

TANGIBLE FIXEDAS	SE	TS
				Freehold	Furniture	Motor	Total
				Property	Er. equipment	vehicles
Cost or Valuation
At I January 2021				665,000	68,853	18,125	751,978
Disposals				(350,000)	(54,792)	(8,625)	(413,417)
Transfer to freehold property		investment		(150,000)	-	-	(150,000)
At 31 December 2021				165,000	14,061	9,500	188,561
Accumulated depreciation
At I January 2021				106,400	46,652	12,778	165,830
Charge for the year				1,650	138	1,336	3,124
Eliminated on disposal				(56,000)	(32,867)	(8,622)	(97,489)
Written back on freehold	property		investment	(24,000)			(24,000)
				28,050	13,923	5,492	47,465
Net book values
At 31 December 2021				136,950	138	4,008	141,096
At I January 2021				558,600	22,201	5,347	586,148

Freehold Property
Transfer from Tangible	Fixed Assets:
Valuation in 2004					150,000
Accumulated depreciation		to 31 December 2020			(24,000)
					126,000
Add back depreciation	to	recognise the property	as an investment	property	24,000
					150,000

				2021	2020
Quoted investments
	Market value	I January	2021	1,022,805	1,047,793
	Disposals			(351,950)	(30,000)
	Investment management		costs	(8,476)	(10,269)
	Net gains/(losses)			47,853	]5,281
	Market value	31 December 2021		14,752	13,272
				2021	2020
Unquoted investments				8
	Market value	I January	2021	13,272	13,257
	Dispo sais
	Net gains			1,079	209
	Market value	31 December 2021		14,752	13,272
6.	DEBTORS
				2021	2020
	Other debtors
	Prepayments			1,079	209
				1,079	209
7.	CREDITORSi AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
				8
	Accruals			1,524	1,512