2023-03-31-accounts

		Pallottine Missionar S	Pallottine Missionar S	isters
		Le al and Administrative		Details
		For the ear ended 31"March 2023
Principal	Address:	52 Park Mount Drive
		Macclesfield
		Cheshire
		SKII 8NT
Superior:		SrMary McNulty
Trustees:		SrMary McNulty
		SrElizabeth Rowan
		Rev John Martin
		SrAnna Maldrzykowska		Resigned		Ia August 2022
		Sr Adelheid Elfriede		Appointed		13'"November		2022
Chief Executive Officer:		Ms Jennifer Trotter
Charity Number:		234185
Governing	Instrument:	The charity is governed		by the Trust Deed		dated 9	March 1964,varied
		15July 1987and 2 August 1996which administers					the Trust property
		owned by the Pallottine		Missionary	Sisters.
Auditors:		Allen Mills Howard	Limited
		Chartered Accountants		dr Statutory	Auditors
		56 Manchester Road
		Altrincham
		Cheshire
		WA14 4PJ
Bankers:		The Royal Bank ofScotland Plc
		62-63 Threadneedle	Street
		London
		EC2R 8LA
Investment	Manager:	W H Ireland
		One New Bailey
		4 Stanley Street
		Salford
		M3 5JL
Solicitors:		Fieldings Porter
		Silverwell House
		32 Silverwell Street
		Bolton
		BLI IPT

		St	atem	ent ofFinancial Activities	ent ofFinancial Activities
		For	the	ear ended 31"March 2023
				Note Unrestricted	Designated	Restricted	Total	Total
				Funds	Funds	Funds	2023	2022
						f,
Income from:
Donations			2	90,039		3,356	93,395	113,039
Operation ofcare home			3	2,170,252			2,170,252	2,070,843
Investments			4	28,765			2$,765	27,314
Other			5					74,716
Total income				2,289,056		3,356	2,292,412	2,285,912
Expenditure on
Cost ofraising funds:
Investment management	costs			11,772			11,772	12,518
Expenditure on charitable		activities:
Charitable donations				6,742			6,742	7,701
Support members ofthe	congregation
and operation ofcare home				2,158,636	93)043		2,251,679	2,094,056
Support ofthe congregation		work overseas				69,400	69,400	45,222
Total expenditure				2,177,150	93,043	69,400	2,339,593	2,159,497
Net income (expenditure)
Before gain/(tosses) on	investments			111,906	(93,043)	(66,044)	(47,181)	126,415
Net (losses)/gains on investments				(102,955)			(102,955)	28,467
Net income/(expenditure)			9	8,951	(93,043)	(66,044)	(150&136)	154,882
Transfer between funds			17	726,$03	(790,869)	64,066
Net movement in funds				735,754	(883,912)	(1,978)	(150,136)	154,882
Reconciliation offunds
Funds at beginning ofyear				1,648,520	2,503,287	3,485	4,155,292	4,000,410
Funds at the end ofyear				2484,274	1,619875	1,507	4,005,156	4,155,292

		Balance Sheet	Balance Sheet
		At 31"March 2023
				2023	2022
		Note
Fixed assets
Tangible assets		13		1,623,920	1,691,261
Investments		14		1,562,792	1,688,754
Total fixed assets				3,186,712	3,380,015
Current assets
Debtors		15	128,284	148,171
Cash at bank and in	hand		832,749	755,440
Total current assets			961,033	903,611
Liabilities
Creditors: amounts	falling
due within one year		16	(142,589)	(128,334)
Net current assets				818,444	775,277
Net assets				4,005,156	4,155,292
Funds
Resiricted funds				1,507	3,485
Unrestricted funds:
General funds				2,384,274	1,648,520
Designated funds				1,619,375	2,503,287
Total charity funds		17		4,005,156	4,155,292

						2023	2022
					Note
Cash flows from operating			activities:		23
Net cash	used in operating		activities			52,753	199,413
Cash flows from investing			activities:
Investmentincome						28,765	27,314
Purchase	oftangible fixed	assets				(36)586)	(24,710)
Disposal	oftangible fixed	assets				9,370	3,100
Proceeds	from the disposal		ofinvestments			88,606	95,605
Purchase	ofinvestments					(61,702)	(101,204)
Net cash	provided by investing activities					28,453	105
Change	in cash and cash	equivalents		in
the year						81,206	199,518
Cash and	cash equivalents	brought forward				800,652	601,134
Cash and cash equivalents			carried forward		24	881,858	800,652

3.	Income fr	om charitable activities
			2023	2022
	Residents'	fees	2,170,252	2,070,843
			2,170,252	2,070,843
4.	Investment	income
			2023	2022
	Listed investments		28,765	27,314
			28,765	27,314
5.	Other income
			2023	2022
	Government	grants		74,716
				74,716
6.	Donations
			2023	2022
	Institutions	and individuals	6,742	7,701
			6,742	7,701

Support ofmembers	ofth	e	congregation and oper	ation ofcare home
				2023	2022
Staffcosts				1,302,237	1,214,142
Staffrecruitment				7,363	2,310
Temporary staff				115,112	126,631
Provisions				93,434	75,985
Light and heat				62,760	54,627
Telephone				8,004	7,404
Sisters' living and personal		expenses		15,718	15,992
Education, training,	spiritual		and holidays	12,127	5,636
Rent and rates				33,167	29,392
Insurance				52&041	50,459
Motor and travel				22&703	13,855
Repairs and renewals Depreciation				105,173 94,557	104,698 95,512
Printing, postage &	stationery			4,442	5, 145
Training Legal and professional				2,909 21,134	2,872 4,319
Resident expenses				18,733	17,303
Staff uniforms				1,800	2,930
Support costs (note 8) Governance costs (note 8)				181,936 16,517	187,895 15,509
Hire ofequipment				26,319	34,022
Subscriptions				4,829	3,350
Bad debt				(2,750)	(6,250)
Profit on disposal offixed asset					(2,569)
Cleaning				45,112	27,664
Sundries				6,302	5,223
				2,251,679	2,094,056
Support ofthe congregation's			work overseas	69,400	45,222
Governance and support		costs
			Support	Governance
			costs	costs	2023	2022
Staffcosts			160,338		160,338	156,385
Advertising and marketing Computer costs			3,934 14,187		3,934 14,187	1,425 17,370
Finance costs			3,477		3,477	2,172
Auditor's remuneration				9,168	9,168	8,160
Legal and professional				7,349	7,349	17,892
			181,936	16,517	198,453	203,404

Net (expenditure) befor	e gains on	investme	nts
			2023	2022
This is stated after charging
Hire ofequipment			26,319	34,022
Depreciation			94,557	95,512
Auditor's remuneration			9,168	8,160
Staff costs
			2023	2022
Salaries and wages			1,338,089	1,259,405
Social security costs			102,403	91,086
Pension costs			22,083	20,036
			1,462,575	1,370,527
The average number of	employees	during	the year was as follows:
			2023	2022
Provision ofcare			71	68
Administration			3	3
			74	71
The number ofemployees	whose emoluments		exceeded f60,000:
			2023	2022
f90,000to %100,000

11. Comparatives fo	r	the statement of financial a	ctivities
			Unrestricted	Designated	Restricted	Total
			Funds	Funds	Funds	2022
Income from:
Donations			89,909		23,130	113,039
Operation ofcare home Investments			2,070,843 27,314			2,070,843 27,314
Other				74,716		74,716
Total income			2,188,066	74,716	23,130	2,285,912
Expenditure on
Cost ofraising funds: Investment management	costs		12,518			12,518
Expenditure on charitable Charitable donations		activities:	7,701			7,701
Support members ofthe congregation and operation ofcare home Support ofthe congregation work overseas			1,925,848	168,208	45,222	2,094,056 45,222
Total expenditure			1,946,067	168,208	45,222	2,159,497
Net income (expenditure) Before gain/(losses) on investments Net gains on investments			241,999 28,467	(93,492) -	(22,092) —	126,415 28,467
Net income/(expenditure) Transfer between funds			270,466 (62,595)	(93,492) 37,667	(22,092) 24,928	154,882
Net movement in funds			207,871	(55,825)	2,836	154,882
Reconciliation offunds
Funds at beginning ofyear			1,440,649	2,559,112	649	4,000,410
Funds at the end ofyear			1,648,520	2,503,287	3,485	4,155,292

Tangible fixed assets
	Freehold	Furniture	Motor
	land and	and	Vehicles	Total
	buildings	equipment
Cost
At I"April 2022	2,582,788	1,252,560	34,045	3,869,393
Additions	25,062	11,524		36,586
Disposals	(9,370)			(9,370)
At 31"March 2023	2,598,480	1,264,084	34,045	3,896,609
DEPRECIATION
At I"April 2022	1,079,654	1,070,492	27,986	2,178,132
Charge for the year	49,873	43,170	1,514	94,557
At 31"March 2023	1,129427	1,113,662	29,500	2072,689
Net book value
At31"March 2023	1,468,953	150,422	4,545	1,623,920
At 31a March 2022	1,503,134	182,068	6059	1691261

Investments
		Listed
	Investments		Total	2022
			8
Market value At 1"April 2022 Additions at cost	I	643 542 61,702	1,643,542 61,702	1,609,476 101,204
Disposals Net unrealised (losses)/gains	(88,606) (102,955)		(88,606) (102,955)	(95,605) 28,467
Market value at 3I aMarch 2023	1,513,683		1,513,683	1,643,542
Cash held for reinvestment		49,109	49,109	45,212
At31"March 2023	1,562,792		1,562,792	1,688,754
Listed investments at 31a March 2023 comprise the following:
			2023	2022
UK Equities Fixed interest Global Equity Alternatives European Equity North American Equity Japan Equity Emerging Market Equity			402,865 188,891 266,940 189,073 127,140 225,537 38,450 74,787	455,103 205,508 292,507 208,222 127,951 234,218 41,250 78,783
			1,513,683 1,643,542
Material investments with a market value ofover 5%ofthe total market			value ofinvestments	are as
follows:			2023	2022
Vanguard S&P 500UCITS EFT L FLindsell Train UK Equity Fund			81,257 79,355	86,063

Debtors
	2023	2022
Trade debtors	62,590	90,524
Other debtors	1,589	503
Prepayments	64,105	57,144
	128,284	148,171
All debtor balances are due within one year.
Creditors: amounts falling due within one year
	2023	2022
Trade creditors	80,424	67,427
Accruals and deferred income	24,824	32,567
Taxation and social security	32,413	24,035
Other creditors	4,928	4,305
	142,589	128,334
Deferred Income
Deferred income at I"April 2022	5,870	3,980
Utilised in the year	(5,870)	(3,980)
Received in the year	441	5,780
Balance at 31"March 2023	441	5,780
Deferred income consists ofcare fees paid in advance.

		For the earended31aMarch2023	For the earended31aMarch2023	For the earended31aMarch2023
	Analysis by movements
		2022	Income	Transfers	Expenditure	Gains/	2023
						(losses)
	Retirement fund Fixed assets fund Tanzania fund (Restricted) Unrestricted fund	818,085 1,685,202 3,485 1,648,520	3,356 2,289,056	(818,085) 27,216 64,066 726,803	(93,043) (69,400) (2,177,150)	(102,955)	1,619,375 1,507 2484,274
		4,155,292	2,292,412		(2,339,593)	(102,955)	4,005,156
18.	Analysis ofnet assets between	funds
	2023	General	Designated		Restricted
		Fund		Funds	Funds		Total
		8
	Tangible fixed assets Investments Current assets	4,545 1,562,792 959,526		1,619,375	1,507		1,623,920 1,562,792 961,033
	Current liabilities	(142,589)					(142,589)
		2,384,274		1,619,375	1/07		4,005,156
	2022	General	Designated		Restricted
		Fund		Funds	Funds		Total
							8
	Tangible fixed assets Investments Current assets	6,059 870,669 900,126		1,685,202 818,085	3,485		1,691,261 1688,754 903,611
	Current liabilities	(128,334)					(128,334)
		1,648,520		2,503,287	3,485		4,155,292

	2023	2022
	8
Net movement in funds	(150,136)	154,882
Add back depreciation charges	94,557	95,512
Deduct investment income	(28,765)	(27,314)
(Losses)/Gains on investments	102,955	(28,467)
Profit on disposal oftangible fixed assets		(2,569)
(Increase)/decrease in debtors	19,887	(45,798)
(Decrease)/increase in creditors	14,255	53,167
Net cash used in operating activities	52,753	199,413
Analysis ofcash and cash equivalents
	2023	2022
Cash at bank and in hand	832,749	755,440
Cash held by investment manager	49,109	45,212
Total cash and cash equivalents	881,858	800,652