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|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'|





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||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|





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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<k"niitiC￿ ihi risk of managimLmi Oi"itTidL of eonirols as ihe area ivhLYC Ihi linancial siaikmenis
¢r¢ tn()%1 8u%L¢ptibl¥ to fflalerial fflisslal¢tn¢ni due ￿ fraud_ Audii pri)ccdures trrfonn¢d included hui 14"¢r¢ not lirnited t
testing manual journal eniries and other adjusiTnenis and ei'aluaiing Ihe raiionale iii Telaiion io ￿1V sigi)iticant. unusual
Iransactions and transaciions eniered into outside of the Th)m)al eourse of bL￿InesS.
A turther d¢scripiion of our respK)nsibiliiies is available on ihe Financial Repxirting Council s website at.. https.'Il
ww.trL.org.uklaudiiorsresp)nsibiliiies. This description forms part o(our audi￿￿$ rep)rt.
Other matte
Yi)Iir altLnlicin 1.4 drn%%'n io ihc farl that thc charili. has prcpartd finanrial *alemcnis in acc()rdancc ivith 'Acc()uniing und
RL'rK)riing C'hariiics.. %iaiLmLni ol- FlcLornmendLd PraLlice applicable io chariiies prcparing Ihcir accounts in accordAIILC
iiih IliL l.'inanLial Riwrtitig Siandard applicable in ihe LIK and Republic ol'lreland Il.'R% 10?1" {&s aniLndLdl in prilirLIILL
tu Ihl A¥¥uunlin¥ Jnd RitM)rtin¥ h> 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$. as o ix*h'. in a¢¢()TdwKY iviih part 4 ol. Ihl C'harilils IA¢¢i)uni8 and
[{L￿)rI.￿l R¥¥iulaiiiin% 2dJtl. l)UT iiudil iiUTK. undilldL'in yo th<ll 141 mighi 51aiL Ihi Lliiifii¥'s Iru51LL4 111().4¥ liiatlLrs
L ￿1r¢ ri4uifid Ici sluli li) Ihim in an audiii)rs' rL'P)rt and fi)r no (TrihLf PUryM)SL.'l(> Ihc lullL%I L¥ILni PL'rniiiiLd bj. law. d(>
ni)l £l¢lLPI ()r d*%uin¢ r¢%rM)n%ibililJ Ic) an%()n¢ i>ih¢Y Ihiin lh¢ ¢haril> and lh¥ ¢hJril% s Iru%l¥K'S as it Ic)r i)ur duJii wi)rk.
l(Ir Ihi5 rip)rt, (Ir lur Ihi opinii)n5 w¢ hay¢ formixi.
DLJ N,,Lfv.L
9 June 2022
Chartereil l¢coun¢4n¢$
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

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|Currentfinancial year|||||||
|---|---|---|---|---|---|---|
|||UnrestrictedUnrestricted|||TotaI|Total|
|||funds|<br>funds||||
|||general|designated||||
|||2021|<br>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<br>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|





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|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||<br>19,692|
|Charitable activities|7|241,M6 39,117280,563||||
|Totalresources expended||241,446 58,809|||<br>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|
|||::||||





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|||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|





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|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<br>f.|
||Portfoliomanagement|19,383||<br>19,692|
|||19,383||19,692|





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||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|
||:||





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|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<br>Charitable activities|11,462|20,423|31,885|19,504||12,928|32,432|
|||||:||||



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





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



## 

|Tangiblefixedassets|||||
|---|---|---|---|---|
||LandandFixtures,fittingsMotorvehicles<br>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|<br>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|
||||:||





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||ListedBank Deposit<br>investmentsAccounts|ListedBank Deposit<br>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|





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||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||





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|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||<br>-|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||
|||||::::|||||



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