OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2020-12-31-accounts

Charity registration number: 250185

Congregation of St Mary of the Angels

known as

Park Place Pastoral Centre

Annual Report and Financial Statements

for the Year Ended 31 December 2020

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Contents

Reference and Administrative Details 1
Trustees' Report 2 to 4
Statement of Trustees' Responsibilities 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 16

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Reference and Administrative Details

Trustees

Principal Office

Charity Registration Number

(Sr Mary Juliette) Rosy D'Souza (Sr Mary Evelyn) Rita Cardoz (Sr Judith) Ursula Lopes Winchester Road Wickham Hampshire PO17 5HA 250185

Independent Examiner

Keith Powers FCA Chartered Accountant 51 Burridge Road Southampton SO31 1BY

Page 1

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Trustees' Report

The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2020.

Objectives and activities

Objects and aims

The charity’s objects and principal activities are to provide for such charitable purposes which advance the religious and other charitable work for the time being carried on, by or under the direction of the Order of the Congregation of St Mary of the Angels as the Trustees, with the approval of the Superior, shall from time to time think fit.

The principal aims are

(a) to provide for the spiritual welfare of persons by holding retreats at the Centre as, besides providing an ecumenical Centre, the Congregation offers hospitality to persons of all faiths and none, who come together to develop their personal. spiritual and psychological approach to life; and

(b) to provide financial support for projects of the Congregation of St Mary of the Angels in other countries

There has been no change in these objectives during the year.

Public benefit

The Congregation offers hospitality to persons of all faiths and none, who come together to develop their personal. spiritual and psychological approach to life.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Financial review

Policy on reserves

It is the policy of the charity that unrestricted funds which have not been specifically designated should be maintained at a level sufficient to meet day to day requirements for a period of at least 12 months and to ensure the continued financial stability of the Centre. The trustees consider that reserves at this level will ensure that, in the event of a significant reduction in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be generated.

Going concern

The Trustees are satisfied with the financial position at the year end and that there are no uncertainties which would indicate that the Charity is not a going concern.

Page 2

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Trustees' Report

Structure, governance and management

Nature of governing document

The charity was established by a Charitable Trust Deed dated 4 September 1963, scheme of 13 June 1989 and resolution made under Section 74D of the Charities Act 1993 (as inserted by the Charities Act 2006) passed on 30 November 2010.

Recruitment and appointment of trustees

Nominations for trustees are received from time to time from the officers of the Fransciscaines de Ste Marie des Anges, an organisation based in France. Trustees are appointed for an indefinite period and no time restrictions are imposed on the appointment of any trustee.

Induction and training of trustees

The FSMA sisters undergo formation before being admitted to membership of the Congregation and therefore trustees are familiar with the practical work of the centre. Additionally, new trustees work under the guidance of the Superior and Superior General and other sisters.

Arrangements for setting key management personnel remuneration

The Trustees receive no remuneration. An allowance to provide for the living expenses of the Sisters is included in the accounts.

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

The trustees have assessed the major risk to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the major risks the charity faces. Internal control risks have been minimized by the implementation of procedures for authorization of significant transactions by the advisory committee. Procedures are in place to ensure compliance with health and safety of members and visitors to the centre. All procedures are periodically reviewed to ensure that they continue to meet the needs of the charity and to satisfy any relevant legislation.

Credit risk

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments.

The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows.

Page 3

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Trustees' Report

Liquidity risk

In order to maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-term and short-term debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements.

The annual report was approved by the trustees of the charity on 17 August 2021 and signed on its behalf by:

.........................................

(Sr Mary Juliette) Rosy D'Souza Trustee

Page 4

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 17 August 2021 and signed on its behalf by:

......................................... (Sr Mary Juliette) Rosy D'Souza Trustee

Page 5

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Independent Examiner's Report to the trustees of Congregation of St Mary of the Angels

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 7 to 16.

Respective responsibilities of trustees and examiner

As the charity’s trustees of Congregation of St Mary of the Angels you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Congregation of St Mary of the Angels'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 giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of Congregation of St Mary of the Angels as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting 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.

...................................... Keith Powers FCA Chartered Accountant Institute of Chartered Accountants in England and Wales

51 Burridge Road Southampton SO31 1BY

17 August 2021

Page 6

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Statement of Financial Activities for the Year Ended 31 December 2020

Note
Income and Endowments from:
Donations and legacies
2
Other trading activities
3
Investment income
4
Total Income
Expenditure on:
Charitable activities
5
Total Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14
Note
Income and Endowments from:
Donations and legacies
2
Other trading activities
3
Investment income
4
Total Income
Expenditure on:
Charitable activities
5
Total Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
£
55,767
6,008
53,296
115,071
(90,259)
(90,259)
24,812
915,822
940,634
Unrestricted
£
37,978
169,582
55,520
263,080
(172,825)
(172,825)
90,255
825,567
915,822		 Restricted
£
4,988
-
-
4,988
(14,702)
(14,702)
(9,714)
15,528
5,814
Restricted
£
14,819
-
-
14,819
(12,460)
(12,460)
2,359
13,169
15,528		 Total
2020
£
60,755
6,008
53,296
120,059
(104,961)
(104,961)
15,098
931,350
946,448
Total
2019
£
52,797
169,582
55,520
277,899
(185,285)
(185,285)
92,614
838,736
931,350

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 14.

The notes on pages 9 to 16 form an integral part of these financial statements. Page 7

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

(Registration number: 250185) Balance Sheet as at 31 December 2020

Note
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
12
Creditors: Amounts falling due within one year
13
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
14		 2020
£
336,430
-
625,780
625,780
(15,762)
610,018
946,448
5,814
940,634
946,448		 2019
£
347,000
11,305
606,802
618,107
(33,757)
584,350
931,350
15,528
915,822
931,350

The financial statements on pages 7 to 16 were approved by the trustees, and authorised for issue on 17 August 2021 and signed on their behalf by:

.........................................

(Sr Mary Evelyn) Rita Cardoz Trustee

The notes on pages 9 to 16 form an integral part of these financial statements. Page 8

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

1 Accounting policies

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

Basis of preparation

Congregation of St Mary of the Angels meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Exemption from preparing a cash flow statement

The charity opted to early adopt Bulletin 1 published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income and endowments

Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.

Donations and legacies

Donations and legacies are recognised on a receivable basis when receipt is probable and the amount can be reliably measured.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Deferred income consists of deposits received for future bookings.

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Page 9

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable entity for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £1,000.00 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Research and development

Research and development expenditure is written off as incurred.

Page 10

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

Trade debtors

are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.

Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Page 11

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

2 Income from donations and legacies

Donations and legacies;
Donations from individuals
Total for 2020
Total for 2019		 Unrestricted
funds
General
£
55,767
55,767
37,978		 Restricted
funds
£
4,988
4,988
14,819		 Total
funds
£
60,755
60,755
52,797

3 Income from other trading activities

Trading income;
Other trading income
Total for 2020
Total for 2019
4
Investment income
Interest receivable and similar income;
Interest receivable on bank deposits
Income from rents
Total for 2020
Total for 2019		 Unrestricted
funds
General
£
6,008
6,008
169,582
Unrestricted
funds
General
£
39
53,257
53,296
55,520		 Total
funds
£
6,008
6,008
169,582
Total
funds
£
39
53,257
53,296
55,520

Page 12

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

5 Expenditure on charitable activities

Unrestricted

Note
Designated
£
Support of
beneficiaries
-
Food and
household
cosumables
-
Establishment
-
Building repairs
-
Sisters' allowance
-
Depreciation,
amortisation and
other similar costs
10,570
Grant funding of
activities
-
Office and support
costs
-
Governance costs
-
10,570
Support of beneficiaries
Food and household cosumables
Establishment
Building repairs
Sisters' allowance
Depreciation, amortisation and other similar costs
Grant funding of activities
Office and support costs
Governance costs		 General
£
-
3,474
15,725
4,910
45,000
-
-
6,568
4,012
79,689		 Restricted
£
2,500
-
-
-
-
-
12,202
-
-
14,702
Note		 Total
2020
£
2,500
3,474
15,725
4,910
45,000
10,570
12,202
6,568
4,012
104,961
Total
2019
£
2,500
10,886
45,188
46,037
45,000
10,570
9,960
11,132
4,012
185,285

Page 13

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

6 Analysis of governance and support costs

Governance costs

Audit fees
Other fees paid to auditors
Independent examiner fees
Examination of the financial statements
Allocated support costs
Total for 2020
Total for 2019
7
Net incoming/outgoing resources
Net incoming resources for the year include:
Depreciation of fixed assets
8
Independent examiner's remuneration
Examination of the financial statements		 Unrestricted
funds
General
£
762
750
2,500
4,012
4,012
2020
£
10,570
2020
£
750		 Total
funds
£
762
750
2,500
4,012
4,012
2019
£
10,570
2019
£
750

Page 14

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

9 Taxation

The charity is a registered charity and is therefore exempt from taxation.

10 Tangible fixed assets

Cost
At 1 January 2020
At 31 December 2020
Depreciation
At 1 January 2020
Charge for the year
At 31 December 2020
Net book value
At 31 December 2020
At 31 December 2019
11 Debtors
Trade debtors
Other debtors
12 Cash and cash equivalents
Cash on hand
Cash at bank
Short-term deposits		 Land and
buildings
£
536,920		 Furniture and
equipment
£
114,401
114,401
114,401
-
114,401
-
-
2020
£
-
-
-
2020
£
-
24,634
601,146
625,780		 Furniture and
equipment
£
114,401
114,401
114,401
-
114,401
-
-
2020
£
-
-
-
2020
£
-
24,634
601,146
625,780		 Total
£
651,321
651,321
304,321
10,570
314,891
336,430
347,000
2019
£
4,805
6,500
536,920 114,401
189,920
10,570		 114,401
-
200,490 114,401
336,430 -
347,000 -
2020
£
-
-
-
2020
£
-
24,634
601,146
625,780
11,305
2019
£
697
45,642
560,463
606,802

Page 15

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Notes to the Financial Statements for the Year Ended 31 December 2020

13 Creditors: amounts falling due within one year

Other creditors
Accruals
Deferred income
14 Funds
Unrestricted funds
General
Designated
Total unrestricted funds
Restricted funds
Total funds
Unrestricted
General
Designated
Total unrestricted
Restricted
Total funds		 Balance at 1
January 2020
£
568,822
347,000
915,822
15,528
931,350
Balance at 1
January 2019
£
(467,997)
(357,570)
(825,567)
(13,169)
(838,736)		 Incoming
resources
£
115,071
-
115,071
4,988
120,059
Incoming
resources
£
(263,080)
-
(263,080)
(14,819)
(277,899)		 2020
£
2,002
10,000
3,760
15,762
Resources
expended
£
(79,689)
(10,570)
(90,259)
(14,702)
(104,961)
Resources
expended
£
162,255
10,570
172,825
12,460
185,285		 2019
£
11,214
14,105
8,438
33,757
Balance at 31
December
2020
£
604,204
336,430
940,634
5,814
946,448
Balance at 31
December
2019
£
(568,822)
(347,000)
(915,822)
(15,528)
(931,350)

15 Analysis of net assets between funds

Page 16

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Statement of Financial Activities by fund for the Year Ended 31 December 2020

Total Total
Unrestricted Unrestricted
Funds Funds
2020 2019
£ £
Income and Endowments from:
Donations and legacies 55,767 37,978
Other trading activities 6,008 169,582
Investment income 53,296 55,520
Total income 115,071 263,080
Expenditure on:
Charitable activities (90,259) (172,825)
Total expenditure (90,259) (172,825)
Net income 24,812 90,255
Net movement in funds 24,812 90,255
Reconciliation of funds
Total funds brought forward 915,822 825,567
Total funds carried forward 940,634 915,822

This page does not form part of the statutory financial statements. Page 17

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Statement of Financial Activities by fund for the Year Ended 31 December 2020

Income and Endowments from:
Donations and legacies
Total income
Expenditure on:
Charitable activities
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
Restricted
Funds
2020
£
4,988
4,988
(14,702)
(14,702)
(9,714)
(9,714)
15,528
5,814		 Total
Restricted
Funds
2019
£
14,819
14,819
(12,460)
(12,460)
2,359
2,359
13,169
15,528

This page does not form part of the statutory financial statements. Page 18

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Investment income (analysed below)
Total income
Expenditure on:
Charitable activities (analysed below)
Total expenditure
Net income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Total
2020
£
60,755
6,008
53,296
120,059
(104,961)
(104,961)
15,098
15,098
931,350
946,448		 Total
2019
£
52,797
169,582
55,520
277,899
(185,285)
(185,285)
92,614
92,614
838,736
931,350

This page does not form part of the statutory financial statements. Page 19

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

Donations and legacies
Appeals and donations
Appeals and donations
Other trading activities
Primary purpose trading
Investment income
Income from investment properties
Interest on cash deposits
Charitable activities
Materials
Repairs and maintenance
Depreciation of freehold property
Grants payable - institutions
Trustees fees
Telephone and fax
Office expenses
Motor expenses
Advertising
Legal and professional fees
Bank charges
Trustees fees
Rates
Water rates
Light, heat and power
Insurance
General maintenance
Equipment repairs and renewals
Trade subscriptions
Sundry expenses
Cleaning
Trustees fees
Accountancy fees		 Total
2020
£
4,988
55,767
60,755
6,008
6,008
53,257
39
53,296
(3,474)
(4,910)
(10,570)
(12,202)
(45,000)
(585)
(22)
(1,313)
(88)
(300)
(344)
(2,500)
(1,079)
(4,581)
(3,131)
(6,785)
-
(1,252)
(997)
(1,667)
(149)
(2,500)
(762)		 Total
2019
£
14,819
37,978
52,797
169,582
169,582
53,771
1,749
55,520
(10,886)
(46,037)
(10,570)
(9,960)
(45,000)
(678)
(1,306)
(1,702)
-
(2,036)
(378)
(2,500)
(10,716)
(4,258)
(17,187)
(6,749)
(3,779)
(2,457)
(267)
(2,308)
(2,499)
(2,500)
(762)

This page does not form part of the statutory financial statements. Page 20

Congregation of St Mary of the Angels

known as Park Place Pastoral Centre

Detailed Statement of Financial Activities for the Year Ended 31 December 2020

Independent examiner's fee Total
2020
£
(750)
(104,961)		 Total
2019
£
(750)
(185,285)

This page does not form part of the statutory financial statements. Page 21