2022-12-31-accounts

Delegated	Delegated	Councillor	and Trustee	Sister Hilary Brown
Trustees				Sister Eileen Ryan
				Sister Mary McLoughney
				Sister Nora Mary Ryan
				Sister Kathleen Curran
				The trustees are appointed		by the Delegated	Councillor.
Charity	number			235342
Principal	address			Ursulines ofJesus	Administration
				Stella Maris Convent
				Eaton Crescent
				Swansea
				SA1 4QR
Auditor				Greaves West &Ayre
				17Walkergate
				Berwick-upon-Tweed
				Northumberland
				TD15 1DJ
Bankers				Royal Bank ofScotland
				42 Hide Hill
				Berwick-upon-Tweed
				Northumberland
				TD15 1AB
Solicitors				Pothecary Witham	Weld
				84 Eccleston Square
				Pimlico
				London
				SW1V 1PX
Investment		advisors		U.B.S.Wealth Management		(IJK) Ltd
				2 St.James' Gate
				Newcastle upon Tyne
				NE4 7JH

Current financial	year
			Unrestricted	Unrestricted	Restricted	Tangible	Total	Total
			funds	funds	funds	fixed assets
			general	designated		funds
			2022	2022	2022	2022	2022	2021
		Notes			K		F	E
Income and endowments		from:
Donations and legacies			263,010	186,115	3,405		452,530	1,058,140
Charitable activities			43,451	75,423			118,874	177,019
Investments			248,794	230,508	239		479,541	456,616
Other			316	73,464	2,317		76,097	355,851
Total income and
endowments			555,571	565,510	5,961		1,127,042	2,047,626
Ex enditure on:
Raising funds			56,557	56,557			113,114	118,122
Charitable activities			608,469	958,174	39,248	182,814	1,788,705	1,757,685
Total resources expended			665,026	1,014,731	39,248	182,814	1,901,819	1,875,807
Net gains/(losses)	on
investments		11	(842,304)	(842,304)			(1,684,608)	1,708,920
Net (outgoing)/incoming
resources before	transfers		(951,759)	(1,291,525)	(33,287)	(182,814)	(2,459,386)	1,880,739
Gross transfers between
funds			(466,831)	397,731	51,890	17,209
Net movement in funds			(1,418,590)	(893,794)	18,603	(165,605)	(2,459,386)	1,880,739
Fund balances at 1 January
2022			13,149,555	10,408,151	16,544	5,466,340	29,040,590	27,159,851
Fund balances at	31
Qecemti~022			11.731),965	9,514,357	35,147	5,300,735	26,581,204	29„040,590

Prior financial	year	year
						Unrestricted	Unrestricted	Restricted	Tangible	Total
						funds	funds	funds	fixed assets
						general	designated		funds
						2021	2021	2021	2021	2021
					Notes	K				E
Income and endowments				from
Donations and	legacies					306,121	750,719	1,300		1,058,140
Charitable activities						40,947	136,072			177,019
investments						231,014	225,601			456,616
Other						1,132	131,659		223,060	355,851
Total income	and	endowments				579,214	1,244,051	1,301	223,060	2,047,626
Ex enditure on:
Raising funds						59,061	59,061			118,122
Charitable activities						562,192	949,490	59,933	186,070	1,757,685
Total resources expended						621,253	1,008,551	59,933	186,070	1,875,807
Net gains/(losses)		on investments			11	854,460	854,460			1,708,920
Net (outgoing)/incoming				resources before
transfers						812,421	1,089,960	(58,632)	36,990	1,880,739
Gross transfers	between		funds			548,259	(271,718)	53,137	(329,678)
Net movement	in	funds				1,360,680	818,242	(5,495)	(292,688)	1,880,739
Fund balances	at 1 January			2021		11,788,875	9,589,909	22,039	5,759,028	27,159,851
Fund balances at		31 December 2021				13,149,555	10,408,151	16,544	5,466,340	29,040,590

			2022	2021
			6	8
Fixed assets
Targlbla assets		12	5,3QQ,736	5,468,340
Invessnents		13	18,301,447	20,125,306
			23,802,183	25,591,646
Current assets
Debtors		15	50,404	14,180
Investinenls		16	2,364,143	2,144,442
Cash at bank and in hand			710,584	1,439,390
			3,125,111	3,597,992
Creditors, amounts	fatSng due within	17
one year			(146,090)	(149,048)
hist currsnl assets			2,979,021	3,448,944
Total assets less current liabilities			26,581@04	29,040,590
Designated funds
Tangible Rxed Assets			5,300,735	5,466,340
solidarity & Iusssions	Fund		35,147	16,544
Community Care Fund			9,514,357	10,408,151
General Fund
uKliRL Wise naty Reality fund			11,730,965	13,149,555
			26,581,204	29,040,590

					2022		2021
				Notes			E
Cash flows from operating		activities
Cash absorbed by operations						(1,110,707)		(313,758)
Investing	activities
Purchase	oftangible fixed assets				(17,209)		(5,326)
Proceeds	from disposal oftangible		fixed
assets							335,004
Purchase	ofinvestments				(4,608,646)		(5,416,734)
Proceeds	from disposal of investments				4,528,195		5,513,980
Investment	income received				479,541		456,616
Net cash	generated from investing
activities						381,881		883,540
Net cash	used in financing	activities
Net (decrease)/increase in		cash	and cash
equivalents						(728,826)		569,782
Cash and	cash equivalents at beginning			ofyear		1,439,390		869,608
Cash and	cash equivalents	at end ofyear				710,564		1,439,390

			UK/IRL	Community	Solidarity &	Total	Total
			Missionary	Care	Missions	2022	2021
			Reality Fund F	Fund f	Fund
Donations	and gifts		37,584	206	3,405	41,195	59,453
Legacies	receivable			15,388		15,388	611,758
Salaries, pensions		etc.	225,426	170,521		395,947	386,929
			263,010	186,115	3,405	452,530	1,058,140
For the year ended 31 December
2021			306,121	750,719	1,300		1,058,140
Donations	and gifts
Donations	and gifts		37,584	206	3,405	41,195	59,453
			37,584	206	3,405	41,195	59,453
Salaries,	pensions	etc.
Retirement	pensions		96,066	19,690		115,756	113,467
Social security pensions			115,451	150,831		266,282	259,392
Stipends/Bishop			13,909			13,909	14,070
			225,426	170,521		395,947	386,929

4	Charitable	activities	activities	activities
					UK/IRL
					Missionary	Community	Total	Total
					Reality Fund	Care Fund	2022	2021
					E	f
	Rents receivable				43,151		43,151	40,621
	Retreats							75
	Care fees					75,423	75,423	136,072
	Other income				300		300	251
					43,451	75,423	118,874	177,019
	Analysis by	fund
	Unrestricted		funds	—general	43,451		43,451
	Unrestricted		funds	- designated		75,423	75,423
					43,451	75,423	118,874
	For the year		ended 31 December 2021
	Unrestricted		funds	- general	40,947			40,947
	Unrestricted		funds	- designated		136,072		136,072
					40,947	136,072		177,019

	UK/IRL	Community	Solidarity 8	Total	Total
	Missionary	Care	Missions	2022	2021
	Reality Fund	Fund	Fund
Income from listed investments	224,203	224,203	215	448,621	451,202
Interest receivable	24,591	6,305	24	30,920	5,414
	248,794	230,508	239	479,541	456,616
For the year ended 31 December
2021	231,014	225,601			456,616

		UK/IRL	UK/IRL	Community	Solidarity &	Tangible	Total	Total
		Missionary		Care	Missions	Fixed Asset	2022	2021
		Reality Fund f		Fund	Fund	Fund
Net gain	on disposal of
tangible	fixed assets							223,060
COVID-19 Support grants				73,464			73,464	131,659
Currency	exchange
variation		316			2,317		2,633	1,132
		316		73,464	2,317		76,097	355,851
For the	year ended 31
December 2021		1,132		131,659		223,060		355,851
Raising	funds
					UK/IRL	Community	Total	Total
					Missionary	Care	2022	2021
					Reality Fund	Fund
					E	F
Investment management		fees			56,557	56,557	113,114	118,122
					56,557	56,557	113,114	118,122
For the	year ended 31 December 2021
Investment management		fees			59,061	59,061		118,122

					House	Care home	Other	Total	Total
					expenses	expenses f	expenditure f	2022 f	2021 E
Depreciation			and impairment				182,814	182,814	186,070
Repairs and			renovations		143,792			143,792	89,581
Food					64,102	29,982		94,084	98,628
Personal					126,952	21,479		148,431	133,691
House					207,759	131,655		339,414	344,197
Transportation					27,753			27,753	21,316
Province					8,358			8,358	6,509
Exterior					2,865	605		3,470	10,364
Personnel					118,801	492,636		611,437	636,608
Charity					11,308	3,328		14,636	13,043
Worship					12,170	165		12,335	6,337
Grants to		missions					39,248	39,248	57,212
Other charitable expenditure									5
					723,860	679,850	222,062	1,625,772	1,603,561
Share of	governance			costs (see note
9)					162,933			162,933	154,124
					886,793	679,850	222, 062	1,788,705	1,757,685
Analysis		by fund
UK/IRL Missionary Funds - general					608,469			608,469
Community			Care - designated		278,324	679,850		958,174
Solidarity		8	Missions	Fund			39,248	39,248
Tangible	Fixed Assets						182,814	182,814
					886,793	679,850	222,062	1,788,705
For the year ended 31 December 2021
UK/IRL Missionary Funds - general					562,192				562,192
Community			Care - designated		214,551	734,939			949,490
Solidarity		8	Missions	Fund		5	59,928		59,933
Tangible	Fixed Assets						186,070		186,070
					776,743	737,660	243,282		1,757,685

Support	cos	ts
						2022	2021	Basis ofallocation
							E
								Governance
Audit fees						19,480	16,516
Accountancy,		taxation	and administration		fees	33,382	34,281	Governance
Legal and	professional		fees	and disbursements		8,048	8,891	Governance
Trustees	meeting expenses			and disbursements		26,420	25,395	Governance
Payments	to	general	level			75,603	69,041	Governance
						162,933	154,124

The average	monthly number ofemployees during th	e year was:
		2022	2021
		Number	Number
Employees		33	33
Employment	costs	2022	2021
			E
Wages and salaries		541,453	588,139
Social security costs		36,867	35,344
Other pension	costs	5,672	6,259
		583,992	629,742

		Unrestricted Unrestricted	Unrestricted Unrestricted	Total	Total
		funds	funds	2022	2021
		general	designated
Revaluation	ofinvestments	(694,140)	(694,140)	(1,388,280)	1,537,576
Gain/(loss)	on sale of investments	(148,164)	(148,164)	(296,328)	171,344
		(842,304)	(842,304)	(1,684,608)	1,708,920
For the year ended 31
December	2021	854,460	854,460		1,708,920

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13	Fixed asset investments	Fixed asset investments
				Listed	Cash on	Total
				investments	deposit
	Cost or valuation
	At 1 January 2022			19,321,054	804,252	20,125,306
	Additions			4,608,646	4,176,700	8,785,346
	Valuation changes			(1,684,609)		(1,684,609)
	Disposals			(4,211,484)	(4,713,112)	(8,924,596)
	At 31 December 2022			18,033,607	267,840	18,301,447
	Carrying amount
	At 31 December 2022			18,033,607	267,840	18,301,447
	At 31 December 2021			19,321,054	804,252	20,125,306
14	Financial instruments				2022	2021
					f
	Carrying amount of	financial assets
	Instruments measured	at fair value through	profit or loss		18,033,607	19,321,054
15	Debtors
					2022	2021
	Amounts falling due	within one year:			f	F
	Other debtors				46,903	9,790
	Prepayments and accrued income				3,501	4,370
					50,404	14,160
16	Current asset investments
					2022	2021
	Unlisted investments				2,364,143	2,144,442
17	Creditors: amounts	falling due within one	year
					2022	2021
					F.
	Other creditors				146,090	149,048

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21	Cash generated from operations	Cash generated from operations				2022	2021
						F	F
	(Deficit)/surpus for the year					(2,459,386)	1,880,739
	Adjustments for:
	Investment income recognised	in statement		offinancial	activities	(479,541)	(456,616)
	Gain on disposal oftangible fixed assets						(223,060)
	Loss/(gain) on disposal of investments					296,328	(171,344)
	Fair value gains and losses on	investments				1,388,280	(1,537,576)
	Depreciation and impairment oftangible		fixed assets			182,814	186,070
	Movements in working capital:
	(Increase)/decrease in debtors					(36,244)	6,093
	(Decrease)/increase in creditors					(2,958)	1,936
	Cash absorbed by operations					(1,110,707)	(313,758)
22	Non-audit services provided	by auditor