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|Total|movements
in investments
has been as follows:||
|---|---|---|
||Bid value of units at 1January 2020|19,199,744|
||Purchases|24,309|
||Market price movement
on COIF units|1,877,300|
||Bid value of units at 31December 2020|21,101,353|
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||||2020|2019|
|---|---|---|---|---|
|||||6|
|Cash flows from operating
activities:|||||
|Net income as reported
in the Statement of Financial||Activities|260,629|241,277|
|Adjustments
for:|||||
|Depreciation|||1,120|1,120|
|Net income from investments|||(18,869)|(243,112)|
|Decrease in debtors|||1,919|11,044|
|Increase/(Decrease)
in creditors|||2,272|(54,913)|
|Net cash provided
by operating
activities|||247,071|(44,584)|
|Cash flows from investing
activities:|||||
|Net income from investments|||18,869|243,112|
|Change
in cash awaiting
investment||||354,986|
|Proceeds from the sales ofinvestments||||19,308,116|
|Purchase ofinvestments|||(24,309)|(19,725,805)|
|Purchase offixed assets|||||
|Cost ofmodernisation
and rebuilding|and remodelling|ofsecond floor||(137,794)|
|Net cash used in investing
activities|||(5,440)|42,615|
|Change
in cash and cash equivalents
in the year|||241,631|(1,969)|
|Cash and cash equivalents
at 1January|||99,220|101,189|
|Cash and cash equivalents
at31December (see below)|||340,851|99,220|
|Analysis ofcash and cash equivalents
at 31December:|||||
|Business premium
deposit account (instant access)|||351,090|118,288|
|Current account overdraft|||(10,239)|(19,068)|
||||340,851|99,220|
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|||||||Unrestricted|funds|
|---|---|---|---|---|---|---|---|
|||||||2020|2019|
|||||||E||
|1|Investment
income and|interest receivable||||||
||Equities, unit trusts and|fixed interest investmentts|||||264,315|
||Bank deposit interest|||||114|2|
||Rebates received from|investment|manager|CCLA||18,869|5,810|
|||||||18,983|270,127|
|2|Charitable
donations|||||||
||The Congregation's
Mother House||in support||ofthe|||
||Congregation's
work overseas|||||15,070|258,969|
||The Congregation's
Sisters in Sri Lanka|||||||
||The Congregation's
Sisters in Pakistan|||||||
|||||||15,070|258,969|
|3|Care ofthe elderly|||||||
||Payroll
and Contract staff (Note 7)|||||293,815|289,975|
||Premises|||||26,124|18,493|
||Supplies and services|||||40,517|51,981|
|||||||360,456|360,449|
|4|Support ofthe members|ofthe Congregation|||and their ministry|||
||Premises|||||10,745|7,863|
||Sisters' living and personal expenses|||||14,947|21,493|
|||||||25,692|29,356|
|5|Other costs|||||||
||Bank charges and sundry costs|||||1,269|1,197|
||Legal and professional
fees|||||11,333|10,090|
|||||||12,602|11,287|
|6|Net income for the year|before net|investment||gains or losses|||
||This is stated after charging:|||||||
||Auditor's
remuneration|(excluding|VAT):|||||
||Audit services|||||5,550|5,000|
||Other services|||||950|750|
||Depreciation|||||1,120|1,120|
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|e|ar ended 31December 2020|||
|---|---|---|---|
|||unrestricted|funds|
|||2020|2019|
|||f|f|
|7|Staff costs and Trustees' remuneration|||
||contract staff (care ofthe elderly)|5,123|1,528|
||Payroll|269,888|269,097|
||Social security costs|13,537|15,094|
||Pension contributions|5,267|4,256|
|||293,815|289,975|
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|Tangible fixed assets|||
|---|---|---|
||Freehold|Fixtures|
||land and|fittings &|
||buildings|equipment|
|Cost orvaluation|||
|At 1January 2020|2,500,000|5590|
|Additions|||
|At 31December 2020|2,500,000|5,590|
|Depreciation|||
|At 1January 2020|1,000,000|3,360|
|Provided
in year||1,120|
|At 31December 2020|1,000,000|4,480|
|Net book values|||
|At 31December 2020|1,500,000|1,110|
|At 31December 2019|1,500,000|2,230|
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||||||||||2020|2019|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||E|6|
|10|Investments||||||||||
||Listed investments
managed|||by Barclays Wealth|||||||
||Market value at|1January||||||||15,819,009|
||Purchases|||||||||2,041,589|
||Disposals|||||||||(19,158,116)|
||Net realised gains on disposals|||||||||1,297,518|
||Investment
managed
by||CCLA:||||||||
||Market value at|1January|||||||19,199,744||
||Purchases||||||||5,440|17,678,406|
||Units purchased|from CCLA rebates|||||||18,869|5,810|
||Disposals|||||||||(150,000)|
||Net increase
in|unrealised|gains||||||1,877,300|1,665,528|
||Market value at|31December|||||||21,101,353|19,199,744|
||Cost of investments
at 31December||||||||17,558,525|17,534,216|
||Realised and unrealised||gains|in the|year:||||||
||Net realised gains|||||||||1,297,518|
||Net unrealised
gains||||||||1,877,300|1.,665,528|
||||||||||1,877,300|2,963,046|
||Investments
held at31December comprised the following:||||||||||
||COIF Charities|Ethical Investment|||Fund accumulation||units||21,101,353|19,199,744|
||Total unrealised|gains at|31December included|||in the|valuations|above|3,542,828|1,665,528|
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|Ye|ar ended 31D|ec|ember 2020|||
|---|---|---|---|---|---|
|||||2020|2019|
|||||f|f|
|11|Debtors and prepayments|||||
||Other debtors||||1,680|
||Prepayments|||3,413|3,651|
|||||3,413|5,331|
|12|Creditors:
Amounts||falling due within one year|||
||Bank overdraft|||10,239|19,068|
||Sundry creditors|||2,785|7,6S9|
||income received|in|advance|6,277||
||Accruals|||7,800|6,900|
|||||27,101|33,657|
|||Retirement|
|---|---|---|
|||reserve|
|At 1January 2020||4,810,000|
|Addition to reserve||1,985,750|
|At 31December|2020|6,795,750|
|Total designated|funds:||
|At 31December|2020|6,795,750|
|At 31December|2019|4,810,000|
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|14|Summary offund movements|Summary offund movements|||General|Permanent|
|---|---|---|---|---|---|---|
||||||Fund|Endowment|
|||||||Fund|
||||||8|E|
||Balances at 1January|2020|||19,291,936|1,500,000|
||Income||||674,449||
||Expenditure||||(413,820)||
||Investments
gains and|losses|||1,877,300||
||Balances at 31December 2020||||21,429,865|1,500,000|
||The Designated
Fund|was increased|by E1,985,750during the year to E6,795,750.||||
|15|Analysis ofnet assets|between funds at31December 2020|||General|Designated|
||||||funds|funds|
||||||6|f|
||Tangible fixed assets,|investments|and cash awaiting|investment|14,306,713|6,795,750|
||Net current assets||||327,402||
||||||14,634,115|6,795,750|
|||||||Permanent|
|||||||endowment|
|||||||funds|
|||||||f|
||Fixed assets - freehold|property||||1,500,000|
||Total net assets||||22,929,865||
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