2021-08-31-accounts

Trustees	Margaret TheresaO'Dwyer
	RosePakicia McGovern
	BrigidKelly
	AnnetteTeresaCooke
	Mary McGrath
	PaulaSusanThomas
Charitynumber	235961
Principaladdrtss	Convent of Mercy
	1St.Margaret'sWay
	Midhurst
	WestSussex
	GU29 9FQ
Auditor	RichardPlaceDobsonServicesLimited
	1-TStationRoad
	Crawley
	WsetSussex
	RH14OSG
	WestSussex
	RH1OIHT
Bankers	NationalWestminsterBankPLC
	4HighStreet
	Peterstield
	GU323JF
Solicitors	PothecaryWithamWeld
	70StGeorge'sSquare
	London
	SW1V 3RD
Investmentadvisors	Charles Stanley
	C/OCharles Stanley
	25DukeStreet
	[.ondon
	EC2A4AI'

	Page
Trustees'report	1-5
Statementoftrust€es'responsibilities	6
Iudependent auditor'sreport	7-9
Statementof financial activities	l0-11
Balancesheet	12
Notes to thefinancialstatements	13-22

CHARITY FOR THE SISTERS OF MERCY MIDHURST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF CFtARITY FOR THE SISTERS OF MERCY MIDHURST Thc aiidil LngagLmini tLam i C'haritils.. Sirfillml￿l ol. R¥u)mThLn(IvJ ProLIiLI iSSULd un l April 2005 MhiLh is TLlirrLJ to in th¢ ¢xiani regulations bui h&8 now. been NithdTaM'n. 'I'his bLID dcin¥ in iirti¥r lor ¢hi finarKial $thlimini$ io prtsviik. a irui and fair vi¥￿. in aw)rdanLL wilh LurrLDI Ginirall> ALLLpiLd ALCI)uniing l)raclic¢. I15e of our report 'I'hi% r¥w)rl 1% m¢idi %()lilv li) lh¢ ¢harily'$ iwsiee$. as o ixh'. in a¢¢()TdwKY iviih part 4 ol. Ihl C'harilils IA¢¢i)uni8 and [{L￿)rI.￿l R¥¥iulaiiiin% 2dJtl. l)UT iiudil iiUTK. undilldL'in yo th Ihc lullL%I L¥ILni PL'rniiiiLd bj. law. d(> ni)l £l¢lLPI ()r d%uin¢ r¢%rM)n%ibililJ Ic) an%()n¢ i>ih¢Y Ihiin lh¢ ¢haril> and lh¥ ¢hJril% s Iru%l¥K'S as it Ic)r i)ur duJii wi)rk. l(Ir Ihi5 rip)rt, (Ir lur Ihi opinii)n5 w¢ hay¢ formixi. DLJ N,,Lfv.L 9 June 2022 Chartereil l¢coun¢4n¢$ 1 7 StHtion RoHd C'rawlLV 1- 7 stsiion Road C'rdMIL)" WLbl Sussex Riihard Pl￿¢ Diili&in S¢ryii¢s 1.iinil¢d is eligibl¢ for aprrt>inlinenl as audilor of th¢ charits- b>. viriu¢ of its eli8ibilii> IOT Jppi)inimLni as iiiiditilr Lif a LOMpan￿ urnk'r slxiion 1•12 011￿. Ctsmpanil￿ALl 21KI6. pagt 9

Currentfinancial year
		UnrestrictedUnrestricted			TotaI	Total
		funds	funds
		general	designated
		2021	2021		202t	2020
	Notes	tf,			t	f
Incomefrom
Donationsreceived	3	12,560			12,560	15,001
Investrnents	4	155,801			155,801	196,573
Other incomingresources	5	80,959			80,959	ll4,0l6
Totalincome		249,320			249,320325,590
Exoenditureon:
Raisingfunds	6		19,383		19,383 19,692
Charitableactivities	7	216,595 32,547			749,142280,563
Totalresources expended		?16,595 51,930			268,525300,255
Netgains/(losses) on investments	11		543,297		543,297(439,749)
Net incoming/(outgoing)resourcesbeforetransfers		32,725	491,36'l		524,092(414,414)
Gross transfers between funds		(20,214)	20,214
Netincome(expenditure)fortheyear/
Netmovementinfunds		t2,5tt	5lr,58r		524,092	(414,414)
Fund balancesatISeptember 2020		329,679	I1,445,886	11,775,565		12,189,979
Fundbalances at31August2021		342,190	11,957,467	12,299,657		11,775,565

Priorfinancial year
		UnrestrictedUnrestricted			Total
		funds	funds
		generaldesignated
		2020	2020		2020
	Notes	ff,			t
Incomefrom
Donations received	3	15,001			15,001
lnvestments	4	196,573			196,573
Otherincomingresources	!	I14,016			lt4,0l6
Totalincome		325,590			325,590
Exoendifure on:
Raising funds	6		t9,692		19,692
Charitable activities	7	241,M6 39,117280,563
Totalresources expended		241,446 58,809			300,255
Net gains(losses)on investments	l1		(439,749)(439,749)
Netincoming(outgoing)resources beforetransfers		84,t44	(498,558)		(414,4t4)
Gross transfers betweenfunds		(82,75l)	82,75t
Netincome(expenditure)fortheyear/
Netmovementinfunds		1,393	(415,807)		(414,414)
Fund balancesatISeptember 2019		328,286rr,851,693		12,189,979
Fundbalances at31August2020		329,679I1,445,886			17,775,565
		::

		2021		2028
	Notes	f	f	t	t
Fixedassets
Tangibleassets	t2		I,125,639		1,149,478
Investments	13		9,594,526		8,914,404
			10,710,164		10,063,882
Currentassets
Debtors	15	9,060		8,988
Cash atbank andinhand		1,591,t23		1,717,547
		1,600,183		1.726.535
Creditors:amountsfallingduewithinone
year	l6	(10,690)		(14,852)
Netcurrentassets			1,589,493		I,711,683
Totalassets lesscurrentliabilities			12,299,657		11,775.565
			:
Incomefunds
Unrestrictedfunds
Designated funds	t7	11,957,467		11,445,886
Generalunrestrictedfunds		342,190		329,679
			12,299,657		11,775,565
			t2,299,657		11,775,565

3	Donations received
		Unrestricted	Unrestricted
		funds		fimds
		general		general
		202t		2020
		t		f.
	Donations	12,560		15,001
4	Investments
		Unrestricted	Unrestricted
		funds		funds
		general		general
		2021		2020
		f		f
	Rentalincome	7,t50		7,900
	Incomefromlistedinvestments	t24,098		141,236
	Interest receivable	24,553		47,537
		155,801		196,573
5	Other incomingresources
		Unrestricted	Unrestricted
		funds		funds
		general		general
		2021		2020
		f.		f
	Sisterspension income	80,959		I14,016
6	Raisingfunds
		Unrestricted	Unrestricted
		funds		funds
		designated	designated
		2021t		2020 f.
	Portfoliomanagement	19,383		19,692
		19,383		19,692

	Direct	Direct
	charltable	charitable
	erpenditure	expenditure
	2t2t	2020
	s	t
Staffcosts	42,665	36,732
Ratesandwater	4,537	4,9t2
Insurance	18,860	18,832
Lightandheat	14,054	l3,l6l
Telephone	4,942	4,779
Postageandstationery	2,063	1,534
Provisionsandcooking	16,196	17,699
Chapelexpenses	2l	542
Courses and subscriptions	1,034	2,263
Donationsand stipends	5,645	5,653
Repairs and maintenance	2t,230	25,001
Sisters'expenses	51,477	83,368
Gardenexpenses	4,669	1,623
Depreciation of freehold property	28,488	28,488
Depreciation oflxtures&fittings	1,376	3,544
	2t7,257248,131
Shareofsupportcosts (seenote 8)	11,462	I9,504
Shareofgovemancecosts(seenote 8)	20423	12,928
	249,t42	280,563
	:
Analysisby fund
Unrestrictedfunds-general	216,s95	241,446
Unrestrictedfunds-designated	32,547	39,117
	249,t42	280,563
	:

Supportcosts
	SupportcostsGovernance		2021Supportcosts		Govemance		2020
		costs				costs
	tt		f,L			{	f.
Loss on disposaloffixed
assets				963			963
Motorandtravelexpenses	3,685		3,685	9,447			9,407
Motor vehicle depreciation	7,777		7,777	9,114			9,134
Bankcharges		505	505			602	602
Auditors' remuneration		7,200	7,200			7,200	7,200
Legalandprofessionalfees		12,718	12,718			5,126	5,126
	11,462	20,423	31,885	19,504		12,928	32,432
Analysedbetween Charitable activities	11,462	20,423	31,885	19,504		12,928	32,432
				:

	2021	2020
	Number	Number
Midhurst Convent	2	2
Employmentcosts	2$21 f	2020 f
Wagesand salaries	35,682	29,984
Social securitycosts	3,788	3,833
Other pension costs	3,195	2,915
	42,665	36,732

	Unrestricted	Unrestricted
	funds	funds
	designated	desipated
	2021	2020
	f	f"
Gain/(loss)onsaleofinvestments	s43,297	(439,749)

Tangiblefixedassets
	LandandFixtures,fittingsMotorvehicles buildings&equipment			Total
	ff*,			f
Cost
AtISeptember2O20	1,449,385	69,800	52,173	1,571,359
Additions			13,800	13,800
Disposals			(2t,903)	(2r,903)
At3lAugust202l	1,449,385	69,800	44,070	1,563,255
Depreciationandimpairment
AtISeptember2O2O	317,202	68,423	36,254	42r,819
Depreciationchargedinthe year	28,488	1,376	7,777	37,641
Eliminatedin respectofdisposals			(2r,903)	(21,903)
At31August2021	345,690	69,799	22,128	437,617
Carryingamount
At3lAugust2021	1,103,695		21,942	1,125,639
At3lAugust2020	1,132,183	t,376	15,919	1,149,478
			:

	ListedBank Deposit investmentsAccounts	ListedBank Deposit investmentsAccounts	Total
	ff		f.
Costor valuation
At1September2020	3,733,944	5,180,460	8,914,404
Additions	20t,405	13,063	214,468
Valuationchanges	543,297		543.297
Disposals	(87,@3)		(87,643)
At3lAugust2021	4,391,0035,1.93,523		9,584,526
Carryingamount
At31August2021	4,391,003	5,193,523	9,584,526
At3lAugust2020	3,733,944	5,180,460	9,914,404

14	Financialinstruments	2021	2024
		f	f
	Carryingamountoffinancialassets
	Instruments measuredatfair valuethroughprofitorloss	4,391.003	3,733,944
15	Debtors
		2027	2020
	Amountsfallingduewithinoneyear'.	s	c
	Other debtors	2,161	2,161
	Prepayments	6,901	6,828
		9,060	8,988
			:
16	Creditors:amountsfallingduewithinoneyear
		2021	2020
		f	f
	Accruals	10,690	14,852

	Balanceat	Rcsourccs		Transfers	InvcstmentsBalatrceat	InvcstmentsBalatrceat
	lSeptember	expended			gains/losses31August2021
	2020
	f	f		f	f	f,
Investment fund	9,663,705	(1e,383)		16,155	543,29710,203,774
Landandbuildings fund	1,132,181	(28,488)			-	1,103,693
Buildingfund	650,000	(4,05e)		4,059	-	650,000
	II,445,886	(51,930)	:	,rr*	543,29711,957,467
	Balanceat	Resources		Transfers	Inv6tments	Balanceat
	ISeptember	expended			gainVlosses	ISeptember
	2019					2020
	f,	t		f.	f,	t
Investrnentfund	10,051,023	(19,691)		62,942	232,136	9,663,705
Landandbuildingsfund	7,160,670	(28,489)				1,132,181
Building fund	650,000	(10,629)		10,629		650,000
	11,861,693(58,809)			,tr"	232,t36r1,445,886

18	Analysisofnetassets	betweenfunds
		Unrestricted	Designated	Total	Unrestricted		Designated	Total
		funds	funds			funds	funds
		2021	2021	2021		202A	2020	2020
		f,	f,	f		t	f	$
	Fund balancesat3I
	August2021are
	represented by:
	Tangibleassets	21,945	l,lo3,693	I,125,638		t7,295	I,132,t83	1,149,478
	Investrnents		9,584,526	9,584,526		-	8,914,4A4	8,914,404
	Currentassetsi(liabilities)320,245		1,269,248	1,589,493		312,3841,399,299		t,7n,683
		342,190	n,957,467	12,299,657		329,679	11,445,88611,775,565
				::::