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||Year ended 31December 2022|||
|---|---|---|---|
||I,egal and Administration
Information|||
|Charity name:|Catholic Apostolic Church (Paddington)
General Purposes||Fund more|
||shortly known as Paddington
('hurch 'l'rust|||
|Charity Registration||||
|Number:|245205|||
|Trustees:|Gordon Michael Charles Carter|||
||Andrew David Kilmaine
de Ferrars|||
||James Kilmaine
(iraham
de Ferrars|||
||Benjamin James Viney|||
|Address:|16/20 Maida Avenue,
London W2 1 SR.|||
|Auditors:|Saffery Champness
LLPof71 Queen Victoria Street,|London, EC4V4BE.||
|Bankers:|National
Westminster
Bank Plc ofPO Box221, Connaught||House,|
||65 Aldwych,
London W('2B 4FJ|||
|Investment||||
|Managers:|Brewin Dolphin Ltd, Unit 14Indian Queens Industrial|Estate, Warren Road,||
||Indian Queens, St.Columb, Cornwall TR96TL.|||
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|||Notes|Unrestricted|Restricted|Endowed|||
|---|---|---|---|---|---|---|---|
||||Funds|Funds|Fund|Total|Total|
||||2022|2022|2022|2022|2021|
||||f,'000s|f.'000s|K'000s|K'000s|K'000s|
|Income and endowments|from:|||||||
|Donations
and legacies|||62.4|1.5|90.8|154.7|339.2|
|Investments|||92.5|0.3||92.8|82.3|
|Total|||154.9||90.8|247.5|421.5|
|Expenditure
on:||||||||
|Raising funds
Charitable
activities|||(21.6)
32.1|121.9|1.0|(21.6)
90.8|(22.3)
115.3|
|Total
Net gains on investments||2
1.3&6|10.5
1.6|(121.9)|(1.0)|(112.4)|(137.6)|
|Net income/(expenditure)|||163.8|119.3|378.8|334.3|465.9|
|Net movement
in funds|for|the year|163.8|(119.3)|(378.8)|(334.3)|465.9|
|Total funds brought forward|||105.8|239.2|3 668.2|4013.2|3547.3|
|'l'otal funds carried forward||||||||
|||9,10&11|269.6|119.9|3289.4|3678.9|4013.2|
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|||Notes|Unrestricted|Restricted|Endowed|2022|2021|
|---|---|---|---|---|---|---|---|
||||Funds|Funds|Fund|Total|Total|
||||f'000s|f,'000s|f'000s|f'000s|f,'000s|
|Fixed Assets||||||||
|Investments
(at Market Value)||6|175.2|65.8|3287.9|3 528.9|3 752.8|
|Total fixed assets|||175.2|65.8|3,287.9|3,528.9|3,752.8|
|Current
assets||||||||
|Debtors|||81.2|34.1|0.1|115.4|234.1|
|Cash at bank and in|hand||44.0|33.2|1 4|78.6|50.3|
|Total current assets|||125.2|67.3|1.5|194.0|284.4|
|Creditors: Amounts|falling due|||||||
|within one year
Net current assets|||~30.8
94.4||1.5|44.0
150.0|(24~0
260.4|
|Total assets|||269.6|119.9|3,289.4|3 678.9|4013.2|
|Represented
hy:||||||||
|Unrestricted
Funds|—General|||||||
|- General Offerings|Fund|11|267.6|||267.6|104.2|
|Unrestricted
Fund -|Designated|||||||
|—Thai& Offerings|||2.0|||2.0|1.6|
|Restricted Funds||||||||
|-Poor Account||||11.0||11.0|9.5|
|- Church Upkeep Fund||||108.9||1089|229.7|
|Endowed Fund||||||||
|-Tithe Account||10|||3289.4|3 289.4|3 668.2|
|Total funds||||119.9|3289.4|3 678.9|4013.2|
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|||Ye|ar|ended 31Dec|ember 2022||
|---|---|---|---|---|---|---|
||||||2022|2021|
||||||Total Funds|Total Funds|
||||||f'000s|f,'000s|
|Cash flows from operating||activities:|||||
|Net cash provided
by (used||in) operating||activities|202.6|2.8|
|Cash flows from investing|activities:||||||
|Dividends
from investments|||||51.4|53.3|
|Inieresl. Irom investments|||||41.4|29.0|
|Proceeds from sale ofinvestmcnts|||||137.2|234.4|
|Purchase ofinvestments
Investment
management
fee|||||(347.5)
~21.6|(321.5)
~22.3|
|Net cash provided
by (used||in) investing||activities|(139.1)|(27.1)|
|Cash flows from financing||activities:|||||
|Net cash provided
(used in)||financing|activities||||
|Change in cash and cash equivalents|||in the||||
|reporting
period|||||63.5|(24.3)|
|Cash and cash equivalents
at||the beginning||ofthe|||
|reporting
period|||||151.0|175.3|
|Cash and cash equivalents
at||the end of|the||||
|reporting
period|||||214.5|151.0|
|Reconciliation ofnet income/(expenditme)||||to net cash|||
|flow from operating
activities|||||||
|Net income for the reporting||period (as|||||
|per the statement offinancial||activities)|||(334.3)|465.9|
|Adjustments
for:|||||||
|(Gains)/losses
on investments|||||469.4|(1820)|
|Dividends
and interest from|investments||||(92.8)|(82.3)|
|Investment
management
fee|||||21.6|22,3|
|(Increase)/Decrease
in debtors|||||118.7|(225.1)|
|Increase in creditors|||||20.0|4.0|
|Net cash provided
by (used||in) operating||activities|202.6|2.8|
|Analysis ofcash and cash equivalents|||||||
|Cash in hand|||||78.6|50.3|
|Cash on deposit|||||135.9|100.7|
|Total cash and equivalents|||||214.5|151.0|
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||||f'000s|f'000s|
|Interest included||in investment||income|41.4|29.0|
|Gains/(Losses)||on disposal of||investments|47.3|40.4|
|Unrealised|gains/(losses)||on investments||(516.7)|141.6|
|Auditors'|remuneration||||(11.8)|(9.5)|
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|||||||Market Value|Income from||
|---|---|---|---|---|---|---|---|---|
|||||||at year end|Investments|for|
||||||||the year||
|||||||K'000s|K'000s||
|Investments|listed on a||recognised||stock exchange, or||||
|held in common investment||||ftmds,|unit trusts, or other||||
|collective investment||schemes||||3,393.0|92.8||
|Cash held as|part ofthe||investment||portfolio|135.9|||
|||||||3 328.9|||
|||||||2022|2021||
|||||||f'000s|f'000s||
|Market value|as at 1 January|||||3,652.1|3,383 0||
|Additions||||||347.5||321.5|
|Disposals||||||(137.2)|(234.4)||
|Realised and|Unrealised||gains/(losses)|||~469.4||182.0|
|Market value|as at 31December|||||3393.0|3|632.1|
|Original cost||||||3 191.7|2|893.3|
|||||2022|2021|
|---|---|---|---|---|---|
|||||f'000s|f'000s|
|7.Debtors||||||
|Amount
due|from Investment||Advisers|8.5|3.5|
|Legacy —Restricted Fund|||||229.7|
|Maintenance|expenditure|—reimbursement||84.0||
|Income from|investments|||0.8|0.8|
|Prepayments||||22.0||
|Sundry||||0.1|0.1|
|||||115.4|234.1|
|8.Creditors||||||
|Amounts
falling due within|||one year|||
|Creditors||||1.4|8.7|
|Accrual s||||42.6|15.3|
|||||44.0|24.0|
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|||For the yea|r ended 31|December 2022|||
|---|---|---|---|---|---|---|
|||Balances||||Balances|
|||brought|Income|Expenditure|Gains|carried|
|||forward|||and losses|forward|
|||f,'000s|f,'000s|K'000s|K'000s|K'000s|
|9.Restricted Funds|||||||
|Poor Account||9.5|1.5|||11.0|
|Church Upkeep Fund||229.7|0.3|121.9||108.9|
|||239.2|1.8|(121.9)|0.8|119.9|
|Included
in the above are net unrealised
gains|||of|||0.8|
|10.Endowed Fund|||||||
|Tithe Account||3 668.2|90.8|1.0|468.6|3289.4|
|Included
in thc above are net unrealised
gains|||of|||202.1|
|ll. Unrestricted|Funds||||||
|General|||||||
|General Offerings|Fund|104.2|153.0|12.0|(1.6)|267.6|
|Designated|||||||
|Thank Offerings||1.6|1.9|1.5||2.0|
|||105.8|154.9|10.5|1.6|269.6|