## 

|Delegated|Delegated|Councillor|and Trustee|Sister Hilary Brown||||
|---|---|---|---|---|---|---|---|
|Trustees||||Sister Eileen Ryan||||
|||||Sister Mary McLoughney||||
|||||Sister Nora Mary Ryan||||
|||||Sister Kathleen<br>Curran||||
|||||The trustees<br>are appointed||by the Delegated|Councillor.|
|Charity|number|||235342||||
|Principal|address|||Ursulines<br>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<br>Hill||||
|||||Berwick-upon-Tweed||||
|||||Northumberland||||
|||||TD15 1AB||||
|Solicitors||||Pothecary<br>Witham|Weld|||
|||||84 Eccleston Square||||
|||||Pimlico||||
|||||London||||
|||||SW1V 1PX||||
|Investment||advisors||U.B.S.Wealth Management||(IJK) Ltd||
|||||2 St.James' Gate||||
|||||Newcastle<br>upon Tyne||||
|||||NE4 7JH||||





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|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<br>and legacies|||263,010|186,115|3,405||452,530|1,058,140|
|Charitable<br>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<br>on:|||||||||
|Raising funds|||56,557|56,557|||113,114|118,122|
|Charitable<br>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<br>between|||||||||
|funds|||(466,831)|397,731|51,890|17,209|||
|Net movement<br>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<br>and|legacies|||||306,121|750,719|1,300||1,058,140|
|Charitable<br>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<br>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,<br>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<br>funds|||||
|Tangible Rxed Assets|||5,300,735|5,466,340|
|solidarity<br>& Iusssions|Fund||35,147|16,544|
|Community<br>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<br>by operations||||||(1,110,707)||(313,758)|
|Investing|activities||||||||
|Purchase|oftangible<br>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<br>of investments||||4,528,195||5,513,980||
|Investment|income received||||479,541||456,616||
|Net cash|generated<br>from investing||||||||
|activities||||||381,881||883,540|
|Net cash|used in financing|activities|||||||
|Net (decrease)/increase<br>in||cash|and cash||||||
|equivalents||||||(728,826)||569,782|
|Cash and|cash equivalents<br>at beginning|||ofyear||1,439,390||869,608|
|Cash and|cash equivalents|at end ofyear||||710,564||1,439,390|





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## 

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## 

## 

||||UK/IRL|Community|Solidarity<br>&|Total|Total|
|---|---|---|---|---|---|---|---|
||||Missionary|Care|Missions|2022|2021|
||||Reality Fund<br>F|Fund<br>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<br>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<br>&|Tangible|Total|Total|
|---|---|---|---|---|---|---|---|---|
|||Missionary||Care|Missions|Fixed Asset|2022|2021|
|||Reality Fund<br>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<br>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<br>management||fees|||59,061|59,061||118,122|



## 



## 

## 

## 

## 

||||||House|Care home|Other|Total|Total|
|---|---|---|---|---|---|---|---|---|---|
||||||expenses|expenses<br>f|expenditure<br>f|2022<br>f|2021<br>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<br>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<br>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<br>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<br>number ofemployees<br>during<br>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<br>Unrestricted|Unrestricted<br>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|





|||||S<br>0||N0 <br>O<br>lA|0<br> N|CON<br>N<br>lA||CO<br>CCI<br>0 <br>O|CO<br> N<br>CO|0<br>lA<br>N||CO<br>00|0<br>CO<br>CO|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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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<br>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<br>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<br>instruments||||2022|2021|
||||||f||
||Carrying<br>amount of|financial assets|||||
||Instruments<br>measured|at fair value through|profit or loss||18,033,607|19,321,054|
|15|Debtors||||||
||||||2022|2021|
||Amounts<br>falling due|within one year:|||f|F|
||Other debtors||||46,903|9,790|
||Prepayments<br>and accrued income||||3,501|4,370|
||||||50,404|14,160|
|16|Current asset investments||||||
||||||2022|2021|
||Unlisted<br>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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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|





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