2022-12-31-accounts - St Ursula's Home

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ST. URSULA’S HOME

Including Miss Duncombe’s Endowment (Charity Registration No 248937)

Report of the Trustees for the Year Ended 31 December 2022

Objects

The Trust continues to fulfil its purpose as an ecclesiastical charity for the benefit of the parochial purposes of the Church, School and Parish of S. Alban the Martyr, Holborn, London.

Trustees

The Trustees are:

Father Christopher Smith - Vicar of S. Alban’s (ex officio) Miss Alison Cratchley Miss José Tomlinson Mr Roger Lomax Mr David Ballance

With the exception of Mr Ballance who was appointed on 21 September 2022, the Trustees held office throughout the year. The Trustees met twice during the year.

Activities and Finances

Details of income, expenditure and investments are given in the accounts and notes.

Incoming resources of £59,411 consisted of investment income. Outgoing resources in the year were £51,039, predominantly expenditure of £50,082 on charitable activities consisting of grants for Church and Parish purposes.

The principal grants and other payments made or committed during the year were:

S. Alban's Church Cost of Curate post Purchase and repair of sacristy items Church Music costs	£ 50 42,184
	42,234

ST. URSULA’S HOME

Including Miss Duncombe’s Endowment (Charity Registration No 248937)

Report of the Trustees for the Year Ended 31 December 2022 (continued)

Parish Youth Club Youth Pilgrimage to Walsingham Children's pilgrimage to Walsingham Confirmation candidates' away weekend JAM Children's Group equipment and supplies Contributions from parents and others Toddler group Bank charges	4,330 1,770 1,504 335 822 (940) - 27
	7,848

Music costs are met from a restricted fund whose assets of £769,000 consist principally of investments transferred from the former S. Alban’s Holborn Choir and Music Trust and the proceeds of legacies for the purpose of music.

Bankers

The Charity’s Bank accounts are held at:-

National Westminster Bank plc Chancery Lane and Holborn Branch PO Box No 159 332 High Holborn London WC1V 7PS

This report and the accompanying financial statements were approved by the Trustees on 15 February 2023 and signed on their behalf by

Father Christopher Smith José Tomlinson Chairman of the Trustees Clerk to the Trustees

C/O The Clergy House 18 Brooke Street London EC1N 7RD

ST. URSULA’S HOME Including Miss Duncombe’s Endowment (Charity Registration No 248937)

INDEPENDENT EXAMINER’S REPORT

I report to the trustees on my examination of the accounts of the above charity (“The Trust”) for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect,:

the accounting records were not kept in accordance with section 130 of the Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

…………………………………… 2023

Mark Passmore MA FCA

Passmore Weeks & Richardson

A Xeinadin Company

4 – 8 The Centre, Lakes Industrial Park

Braintree

Essex

CM7 3RU

ST. URSULA’S HOME

Including Miss Duncombe’s Endowment Accounts for the Year Ended 31 December 2022

Statement of Financial Activities

Note Incoming Resources Incoming resources from generated funds Voluntary income 2 Activities for generating funds Investment income 3 Incoming resources from charitable activities Other incoming resources Total incoming resources Resources expended Cost of generating funds Costs of generating voluntary income Charitable activities 4 Governance costs 5 Other resources expended Total resources expended Net incoming (outgoing) resources Unrealised profit (loss) on investments Net movement in funds Fund balances at 1 January 2022 Fund balances at 31 December 2022	Unrestricted Restricted Expendable Endow- ment Total 2021 (Music) Endowment £ £ £ £ £ £ - - - 1,400 36,044 23,367 59,411 56,563 - - - -
	36,044 23,367 - - 59,411 57,963
	7,898 42,184 - 50,082 64,087 957 957 548
	8,855 42,184 - - 51,039 64,635
	27,189 (18,817) - - 8,373 (6,672) (85,628) (64,699) (13,780) (164,107) 139,247
	27,189 (104,444) (64,699) (13,780) (155,734) 132,575 202,486 873,661 778,534 285,033 2,139,714 2,007,140
	229,675 769,217 713,835 271,253 1,983,980 2,139,715

ST. URSULA’S HOME

Including Miss Duncombe’s Endowment Accounts for the Year Ended 31 December 2022 (Ctd)

Balance Sheet 31 December 2022

FIXED ASSETS Investments 6 CURRENT ASSETS Debtors Cash at Bank LIABILITIES Creditors falling due within 1 year Ground rental received in advance NET CURRENT ASSETS TOTAL NET ASSETS FUNDS Unrestricted 7 Restricted (Music) 7 Expendable Endowment 7 Endowment 7	2021 £ £ 1,758,925 1,923,032 - - 226,750 218,158
	226,750 218,158
	(720) (500) (975) (975)
	(1,695) (1,475)
	225,055 216,683
	1,983,980 2,139,715
	229,675 202,486 769,217 873,661 713,835 778,534 271,253 285,034
	1,983,980 2,139,715

ST. URSULA’S HOME( Including Miss Duncombe’s Endowment)

Notes on Accounts for the Year Ended 31 December 2022

1. Accounting Policies

(a) The financial statements are presented in accordance with the Charity Commission’s Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and are prepared under the historical cost convention except for investment assets.
(b) Incoming resources are recognised in the following manner:-
(i) Grants when received
(ii) Investment income and interest receivable when receivable.
(iii) Realised gains and losses on investments are recognised when the investments are sold or redeemed while unrealised gains and losses are accounted for on revaluation of the investments at 31 December.
( c) Expenditure is recognised on the accruals basis as a liability as incurred
(d) Investments are valued at market value at 31 December except for the freehold interest in the property to which a nil value is attributed.

2. Voluntary Income

Legacies Giving for music Grant for youth Club 3. Investment Income Dividends and interest on investments Bank Interest receivable Ground rental	Unrestricted Restricted Expendable Endowment Total 2021 (Music) Endowment £ £ £ £ £ £ - -- - - 1,400 - - 1,400 Unrestricted Restricted Expendable Endowment Total 2021 (Music) Endowment £ £ £ £ £ £ 31,533 23,367 54,900 52,642 611 611 21 3,900 3,900 3,900
	36,044 23,367 - - 59,411 56,563

4. Charitable Activities

Grants for Church Grants for Parish Cost of curate post Miscellaneous	Unrestricted Restricted Expendable Endowment Total 2021 (Music) Endowment £ £ £ £ £ £ 50 42,184 42,234 24,468 7,848 7,848 5,448 - 34,144 - - 28 7,898 42,184 - - 50,082 64,087

ST. URSULA’S HOME( Including Miss Duncombe’s Endowment)

Notes on Accounts for the Year Ended 31 December 2022 (continued)

5. Governance Costs

Governance costs Trustee meeting and travel expenses Independent examiner's fee	Unrestricted Restricted Expendable Endowment Total 2021 (Music) Endowment £ £ £ £ £ £ 137 137 68 820 820 480
	957 - - 957 548

6. Investment Fixed Assets

Market value at 1 January Acquisitions at cost Proceeds of sale and redemptions Unrealised gains (losses) Realised gains/(losses) Market value 31 December Details of Investments Church of England Investment Fund Income shares Church of England Fixed Interest Securities Fund Income Shares Blackrock UK Equity Fund A - income	2021 £ £ 1,923,032 1,783,785 - - (164,107) 139,247
	1,758,925 1,923,032
	607,252 685,707 372,881 431,484 778,792 805,841
	1,758,925 1,923,032

7. Analysis of Net Assets by Fund Type

Investment fixed assets Cash and bank deposits Other current assets Current liabilities Total	Unrestricted Restricted Expendable Endowment Total (Music) Endowment £ £ £ £ £ 768,449 719,223 271,253 1,758,925 231,370 768 (5,388) 226,750 - (1,695) (1,695)
	229,675 769,217 713,835 271,253 1,983,980

8. Employees

The Trust had no employees during the year (2021 none).