| Total | movements in |
investments | has been as follows: | |
|---|---|---|---|---|
| Bid value | of units at | 1January 2021 | 21,101,353 | |
| Proceeds | from units | said | (21,071,375) | |
| Purchases | including | bonus units allocated | 21,103,533 | |
| Market price movement on units |
3,160,551 | |||
| Bid value | of units at | 31December 2021 | 24,294,062 |
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| 2021 | 2020 | |||
|---|---|---|---|---|
| f | f | |||
| Cash flows from operating activities: |
||||
| Net income as reported in the Statement of Financial |
Activities | 69,759 | 260,629 | |
| Ad)ustments for: |
||||
| DepreCiation | 110 | 1,120 | ||
| Net income from investments | (32,156) | (18,869) | ||
| Decrease in debtors | 49 | 1,929 | ||
| (Decrease)/increase in creditors |
(7,526) | 2,272 | ||
| ltet cash provided by operating activities |
31,234 | 247,072 | ||
| Cash flows from investing activities: |
||||
| Net income from investments | 32,158 | 28,869 | ||
| Sale proceeds ofinvestments | 21,071,375 | |||
| Purchase ofinvestinents | (21,203,533) | (24,309) | ||
| Cost of alterations to buildings | (19,136) | |||
| Net cash used In investing activkies | (19,136) | (5,440) | ||
| Change in cash and cash equivalents In the year |
12,098 | 242,631 | ||
| Cash and cash equivalents at 1lanuary |
340651 | 99220 | ||
| Cash and cash equivalents at31December (see below) |
352,949 | 340,851 | ||
| Analysis ofcash and cash equivalents | at 31December; | |||
| Business premium deposit account |
(instant access) | 366,945 | 351,090 | |
| Current account overdraft | (13,996) | (10,239) | ||
| 352,949 | 340,852 |
| Unrestncted | funds | |||||
|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||
| f | f | |||||
| 1 Investment income |
and interest receivable | |||||
| Bank deposit interest | 224 | |||||
| Rebates received from investment | manager | CCLA | 32,158 | 28,869 | ||
| 32,158 | 18,983 | |||||
| 2 Charitable donations |
||||||
| The Congregation's | Mother | House | in support | ofthe | ||
| Congregation's work overseas |
6,900 | 25,070 | ||||
| The Congregation's | Sisters | in Sri Lanka | ||||
| The Congregation's | Sisters | in Pakistan | ||||
| 6,900 | 15,070 | |||||
| 3 Care ofthe elderly | ||||||
| Payroi and Contract | staff (Note 7) | 197,192 | 293,825 | |||
| Premises | 12,704 | 26,224 | ||||
| Supplies and services | 29,088 | 40,517 | ||||
| 23&,984 | 360,456 | |||||
| 4 Support ofthe members of | the Congregation | and their ministry | ||||
| Premises | 7,811 | 10,745 | ||||
| Sisters' living and personal |
expenses | 13,1DB | 24,947 | |||
| 20,919 | 25,692 | |||||
| 3 other costs | ||||||
| Bank charges and sundry costs | 1,108 | 2,269 | ||||
| Legal and professional fees |
16,315 | 12333 | ||||
| 17,423 | 22,602 | |||||
| 6 Net income forthe year before net | investment | gains or losses | ||||
| This lsstated after charging: | ||||||
| ituditor's remuneration (excluding |
VAT): | |||||
| audit services | 5,650 | 5,550 | ||||
| Other services | 1,0DD | 950 | ||||
| Depreciation | 1,110 | 1,220 |
| e | ar ended 31December 2D21 | ||
|---|---|---|---|
| unrestricted | funds | ||
| 2021 | 2020 | ||
| 6 | 6 | ||
| 7 | Staffcosts and Trustees' remuneratioii | ||
| Contract staff (care ofthe elderly) | 5,123 | ||
| Payroll | 165,994 | 269,888 | |
| Social security costs | 5,901 | 13,537 | |
| Pension contdibutions | 2,519 | 5,267 | |
| Redundancy payments |
22,778 | ||
| 197,192 | 293,815 |
| Tang)b)eexed assets | ||
|---|---|---|
| Freehold | Fbrtures | |
| land and | fittings gi |
|
| buildings | equipment | |
| Cost or valuation | ||
| At 1January 2021 | 2,500,000 | 5,590 |
| Additions | ||
| At 31December 2021 | 2,500,000 | 5,590 |
| Depredation | ||
| At 1January 2021 | 1,000,000 | 4,480 |
| Provided in year |
1,110 | |
| At 31December 2021 | 1,000,000 | 5,590 |
| Net book values | ||
| At 31December 2021 | 1,500,000 | |
| At 31December 2020 | 1,500,000 | 2,230 |
| Ye | ar ended SiDecember 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| 2D20 | 2019 | |||||||
| 8 | ||||||||
| 10 | Investments | |||||||
| Investment managed by CCLA: |
||||||||
| IVlarket value at 1ianuary | 21,101,353 | 19,199,744 | ||||||
| Purch ases | 21,071,375 | 5,440 | ||||||
| Units purchased fmm CCLA rebates |
32,158 | 18,869 | ||||||
| Sale proceeds | (21,071,375) | |||||||
| Net increase in unrealised gains |
3,160,551 | 1,877,300 | ||||||
| Ivlarket value at 31December | 24,294,062 | 21,102,353 | ||||||
| Cost ofinvestments at 31December |
21,088,244 | 17,558,525 | ||||||
| Realised and unrea lised gains in the year: | ||||||||
| Net realised gains (sale proceeds 621 | 071375 | less historical cost | 617573814) | 3,497,561 | ||||
| Net unrealised gains |
3,160,551 | 1,877,300 | ||||||
| 6,658,112 | 1,877,300 | |||||||
| Investments held at31December comprised the following: |
||||||||
| COIF Catholic Investment Fund Founder Accumulation |
units | 24,294,D62 | ||||||
| COIF Charities Ethical Investment |
Fund Accumulation | units | 21,101,353 | |||||
| Total unrealised gains at 31December |
included | in the valuations | above | 3,160,551 | 3542828 |
| 2021 | 2020 | ||||
|---|---|---|---|---|---|
| 6 | |||||
| 11 | Debtors and prepayments | ||||
| Other debtors | |||||
| Prepayments | 3,364 | 3,413 | |||
| 3,364 | 3,413 | ||||
| 12 | Creditors: Amounts |
falling due within one year | |||
| Bank overdraft | 13,996 | 10,239 | |||
| Sundry creditors | 2,7B5 | ||||
| income received | in | advance | 1,536 | 6,277 | |
| Accruals | 7,800 | 7,800 | |||
| 23,332 | 27,101 |
| Retirement | ||
|---|---|---|
| reserve | ||
| At 1January 2021 | 6,795,750 | |
| Addition to reserve | 1,600,500 | |
| At 31December | 2021 | 8,396,250 |
| Total designated | funds: | |
| At31December | 2021 | 8,396,250 |
| At 31December | 2020 | 6,795,750 |
| S | ffd | ||
|---|---|---|---|
| ummary o | un movements | General | Permanent |
| Fund | Endowment | ||
| Fund | |||
| 6 | f | ||
| Balances at | 1January 2021 | 21,429,665 | 1,500,000 |
| Income | 353,965 | ||
| Expenditure | (303,362) | ||
| Investments | gains and losses | 3,160,551 | |
| Balances at 31December2021 | 24,641,039 | 1,500,000 |
| 15 | Analysis of net assets | between funds at 31December 2021 | between funds at 31December 2021 | between funds at 31December 2021 | General | Designated |
|---|---|---|---|---|---|---|
| funds | funds | |||||
| f | f | |||||
| Tangible fixed assets, | investments | and cash awaiting | investment | 15,697,812 | 8,396,250 | |
| Net current assets | 346,977 | |||||
| 16,244,789 | B,396,250 | |||||
| Permanent | ||||||
| endowment | ||||||
| funds | ||||||
| f | ||||||
| Fixed assets - freehold | property | 1,500,000 | ||||
| Total nat assets | 26,141,039 |