| Page | |||
|---|---|---|---|
| Report ofthe trustees | |||
| Independent | examiner's | report | |
| Statement | offinancial | activities |
| For the ye | ar ended 31Decemb | ar ended 31Decemb | er 2022 | |||
|---|---|---|---|---|---|---|
| Reference | and administrative | details | ||||
| 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 | WJJames Jk | Co | |||
| Chartered Accountants |
||||||
| Bishop House | ||||||
| 10Wheat Street | ||||||
| Brecon | ||||||
| Powys | ||||||
| Bankers | Lloyd Bank pic | |||||
| 38High Street | ||||||
| Brecon | ||||||
| Powys | ||||||
| and | ||||||
| Cater Allen Ltd | ||||||
| Pembroke House | ||||||
| 15Pembroke | Road | |||||
| Cliilon | ||||||
| Bristol | ||||||
| Solicitors | Red Kite Solicitors | |||||
| 48 Free Street | ||||||
| Brccon | ||||||
| Powys | ||||||
| Investment | advisers | Mr Daniel Curtis | ||||
| Portfolio Director | ||||||
| Schroder Jk Co Ltd | ||||||
| 12,Moorgate | ||||||
| London | ||||||
| EC2R6DA | ||||||
| -3- |
| Year ended 31Dece | mber | 2022 | ||||
|---|---|---|---|---|---|---|
| Unrestricted | funds | |||||
| 2022 | 2021 | |||||
| Income: | Note | |||||
| Pensions | 20,893 | 21,267 | ||||
| Investment income |
502 | 475 | ||||
| Rent ofproperty | 5,000 | 5,000 | ||||
| Gifts and legacies | 35,805 | |||||
| Other income | 841 | 983 | ||||
| Total income | 27,236 | 63,530 | ||||
| Expenditure: | ||||||
| Raising funds: | ||||||
| Investment management |
costs | 7,029 | 8,476 | |||
| Expenditure on charitable |
activities: | |||||
| Staffcosts | 4,637 | |||||
| Provisions | 2,528 | 1,927 | ||||
| Rates, water and | insurance | 2,466 | 2,146 | |||
| Light and heat | 1,529 | 2,346 | ||||
| Maintenance and |
repairs | 385 | 6,623 | |||
| Removal expenses | 5,122 | |||||
| Household goods |
801 | 734 | ||||
| Telephone, postage and |
stationery | 1,478 | 1,794 | |||
| Grounds maintenance | 748 | 896 | ||||
| Travel | 4,061 | 2,279 | ||||
| Medical | 3,760 | 5,406 | ||||
| Personal expenditure | 1,200 | 910 | ||||
| Education, courses and | on-going formation | 3,580 | 3,505 | |||
| Donations and gifts |
284,248 | 519,558 | ||||
| Bank charges | 34 | 48 | ||||
| Sundries | 1,032 | |||||
| Depreciation | 2,790 | 3,124 | ||||
| 314,730 | 556,965 | |||||
| Governance costs: |
||||||
| Religious | 1,275 | 1,005 | ||||
| Central fund | 781 | 1,352 | ||||
| Reporting accountant |
1,538 | 1,512 | ||||
| Legal Fees | 857 | |||||
| 4,451 | 3,869 | |||||
| Other resources expended: | ||||||
| Pensions | 5,985 | |||||
| Total expenditure | 326,210 | 575,295 | ||||
| Net income/(expenditure) | and net movement | |||||
| in funds before gains and | losses | |||||
| on investments, | ctd | (298,974) | (511,765) |
Year ended 31December |
2022 |
||||
|---|---|---|---|---|---|
| Unrestricted | funds | ||||
| 2022 | 2021 | ||||
| Net incoming/(expenditure) | before gains/(losses) | ||||
| on investments, b/d |
(298,974) | (511,765) | |||
| Net gains/(losses) on investments |
(48,229) | 49,333 | |||
| Net income/(expenditure) | (347,203) | (462,432) | |||
| 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 |
(347,203) | (219,990) | |||
| Unrestricted funds brought |
forward | 1,278,841 | 1,498,831 | ||
| Unrestricted funds carried forward |
931,638 | 1,278,841 |
| as at31December 2 | 022 | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||
| Note | g | g | ||||
| Fixed assets | ||||||
| Tangible assets | 138,306 | 141,096 | ||||
| Investments | ||||||
| Freehold property | 150,000 | 150,000 | ||||
| Quoted investments | 438,974 | 710,232 | ||||
| Unquoted investments |
14,771 | 14,752 | ||||
| 742,051 | 1,016,080 | |||||
| Current assets | ||||||
| Debtors | 1,308 | 1,079 | ||||
| Short term deposits | 127,602 | 130,870 | ||||
| Cash at bank | 205,127 | 275,386 | ||||
| 334,037 | 407,335 | |||||
| Creditors: amounts | falling due | |||||
| within one year | (1,400) | (1,524) | ||||
| Net current assets | 332,637 | 405,81] | ||||
| Net Assets | 1,074,688 | 1,421,891 | ||||
| Funds | ||||||
| Unrestricted funds |
931,638 | 1,278,841 | ||||
| Revaluadon reserve |
143,050 | 143,050 | ||||
| 1,074,688 | 1,421,891 |
| at the year end and their carrying value. Realised combined in the Statement ofFinancial Activities. |
and unrealised investment gains an |
d losses ar | |
|---|---|---|---|
| 2. | INVKSTMKNT INCOME | 2022 | 2021 |
| g | |||
| Dividends —equities | 24 | ||
| Deposit account interest | 478 | 475 | |
| 502 | 475 | ||
| 3. | STAFF COSTS | 2022 | 2021 |
| Wages | 4,637 | ||
| Social Security costs | |||
| 4,637 |
| TANGIBLE FIXEDASSETS | ||||
|---|---|---|---|---|
| Freehold | Furniture | Motor | Total | |
| Property | &equipment | vehicles | ||
| Cost or Valuation | 8 | g | 8 | |
| At 1 January 2022 | 165,000 | 14,061 | 9,500 | 188,561 |
| At 31December 2022 | 165,000 | 14,061 | 9,500 | 188,561 |
| Accumulated depreciation |
||||
| At 1 January 2022 |
28,050 | 13,923 | 5,492 | 47,465 |
| Charge for the year | 1,650 | 138 | 1,002 | 2,790 |
| 29,700 | 14,061 | 6,494 | 50,255 | |
| Net book values | ||||
| At 31December 2022 | 135,300 | 3,006 | 138,306 | |
| At 1 January 2022 | 136,950 | 138 | 4,008 | 141,096 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Quoted investments | f. | |||
| Market value I January | 2022 | 710,232 | 1,022,805 | |
| Disposals | (215,982) | (351,950) | ||
| Investment management |
costs | (7,029) | (8,476) | |
| Net gains/(losses) | (48,247) | 47,853 | ||
| Market value 31December 2022 | 438,974 | 710,232 | ||
| 2022 | 2021 | |||
| Unquoted investments |
||||
| Market value I January | 2021 | 14,752 | 13,272 | |
| Disposals | ||||
| Net gains | 19 | 1,480 | ||
| Market value 31 December 2021 | 14,771 | 14,752 | ||
| 6. | DEBTORS | |||
| 2022 | 2021 | |||
| Other debtors | ||||
| Prepayments | 1,308 | 1,079 | ||
| 1,308 | 1,079 | |||
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | |||
| 2022 | 2021 | |||
| Accruals | 1,400 | 1,524 |