| Total | movements in investments has been as follows: |
|
|---|---|---|
| Bid value of units at 1January 2022 | 24,294,062 | |
| Proceeds from units sold | (300,000) | |
| Bonus units allocated | 34,357 | |
| Market price movement on units |
(2,661,720) | |
| Bid value of units at 31December 2022 | 21,366,699 |
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| Notes | 2022 | 2021 |
|---|---|---|
| f | ||
| 9 | 1,500,000 | 1,500,000 |
| 10 | 21,366,699 | 24,294,062 |
| 22,866,699 | 25,794,062 | |
| 1,744 | 3,364 | |
| 80,892 | 366,945 | |
| 82,636 | 370,309 | |
| 12 | (23,122j | (23,332) |
| 59,514 | 346,977 | |
| 22,926,213 | 26,141,039 | |
| 15 | 12,843,663 | 16,244,789 |
| 13 | 8,582,550 | 8,396,250 |
| 21,426,213 | 24,641,039 | |
| 15 | 1,500,000 | 1,500,000 |
| 22,926,213 | 26,141,039 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| f | ||||
| Cash flows from operating | activities: | |||
| Net (outgoings)/income | as reported | in the Statement of Financial Activities | (531,490) | 69,759 |
| Adjustments for: |
||||
| Depreciation | 1,110 | |||
| Net income | from investments | (34,357) | (32,158) | |
| Decrease in | debtors | 1,619 | 49 | |
| Increase/(decrease) in creditors |
13,787 | (7,526) | ||
| Net cash provided by operating activities |
(550,441) | 31,234 | ||
| Cash flows from investing | activities: | |||
| Net income from investments | 34,357 | 32,158 | ||
| Sale proceeds of investments | 300,000 | 21,071,375 | ||
| Purchase of investments | (34,357) | (21,103,533) | ||
| Cost of alterations to buildings |
(21,616) | (19,136) | ||
| Net cash used in investing | activities | 278,384 | (19,136) | |
| Change in cash and cash equivalents in the year |
(272,057) | 12,098 | ||
| Cash and cash equivalents | at 1January | 352,949 | 340,851 | |
| Cash and cash equivalents | at 31December (see below) | 80,892 | 352,949 | |
| Analysis ofcash and cash | equivalents | at 31December: | ||
| Business premium deposit account |
(instant access) | 80,892 | 366,945 | |
| Current account overdraft | (13,996) | |||
| 80,892 | 352,949 |
| Unrestricted | funds | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2021 | |||||||||
| f | ||||||||||
| 1 | Income | |||||||||
| Rental income: | ||||||||||
| Rental income | from | retired priest | 35,708 | |||||||
| Rental income | from | nursing | home facility | 17,096 | ||||||
| 52,804 | ||||||||||
| Donations received |
400 | |||||||||
| Bank deposit interest | 985 | |||||||||
| Rebates received | from | investment | manager | CCLA | 34,357 | 32,158 | ||||
| 88,546 | 32,158 | |||||||||
| 2 | Charitable donations |
|||||||||
| The Congregation's Mother |
House | in support | ofthe | |||||||
| Congregation's | work | overseas | 511,000 | 6,900 | ||||||
| Other donations | ||||||||||
| 511,000 | 6,900 | |||||||||
| 3 | Costs ofcare and | accommodation | provided | |||||||
| Payroll and Contract staff (Note 7) | 16,204 | 197,192 | ||||||||
| Premises | 3,524 | 12,704 | ||||||||
| Supplies and services | 5,585 | 29,088 | ||||||||
| 25,313 | 238,984 | |||||||||
| 4 | Support ofthe members of | the | Congregation | and their ministry | ||||||
| Premises | 14,097 | 7,811 | ||||||||
| Sisters' living and |
personal | expenses | 29,914 | 13,108 | ||||||
| 44,011 | 20,919 | |||||||||
| 5 | Other costs | |||||||||
| Bank charges and sundry costs | 567 | 1,108 | ||||||||
| Legal and professional | fees | 39,145 | 16,315 | |||||||
| 39,712 | 17,423 | |||||||||
| 6 | Net income for the year before | net | investment | gains or losses | ||||||
| This isstated after charging: | ||||||||||
| Auditor's remuneration |
(excluding | VAT): | ||||||||
| Audit services | 5,500 | 5,650 | ||||||||
| Other services | 1,000 | 1,000 | ||||||||
| Depreciation | 1,110 |
| Unrestricted | funds | |||
|---|---|---|---|---|
| 2022 | 2021 | |||
| f | ||||
| 7 | Staff costs and Trustees' | remuneration | ||
| Contract staff | 16,204 | 36,742 | ||
| Payroll | 129,252 | |||
| Social security costs | 5,901 | |||
| Pension contributions | 2,519 | |||
| Redundancy payments |
22,778 | |||
| 16,204 | 197,192 |
| Tangible fixed assets | ||
|---|---|---|
| Freehold | Fixtures | |
| land and | fittings & | |
| buildings | equipment | |
| Cost or valuation | ||
| At 1January 2022 | 2,500,000 | 5,590 |
| Additions | ||
| At 31December 2022 | 2,500,000 | 5,590 |
| Depreciation | ||
| At 1January 2022 | 1,000,000 | 5,590 |
| Provided in year |
||
| At 31December 2022 | 1,000,000 | 5,590 |
| Net book values | ||
| At 31December 2022 | 1,500,000 | |
| At 31December 2021 | 1,500,000 |
| 2022 f |
2021f | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 10 | Investments | ||||||||
| Investment managed by |
CCLA: | ||||||||
| Market value at 1January | 24,294,062 | 21,101,353 | |||||||
| Purchases | 21,071,375 | ||||||||
| Units purchased from CCLA |
rebates | 34,357 | 32,158 | ||||||
| Sale proceeds | (300,000) | (21,071,375) | |||||||
| Net (decrease)/increase | in unrealised | gains | (2,661,720) | 3,160,551 | |||||
| Market value at 31December | 21,366,699 | 24,294,062 | |||||||
| Averaged cost of investments |
at 31December | 20,833,137 | 21,088,244 | ||||||
| Realised and unrealised | gains in the year: | ||||||||
| Net realised gains | 10,536 | 3,497,561 | |||||||
| Net unrealised gains at year-end |
533,562 | 3,205,818 | |||||||
| 544,098 | 6,703,379 | ||||||||
| Investments held at 31December comprised the following: |
|||||||||
| COIF Catholic Investment | Fund Founder Accumulation | units | 21,366,699 | 24,294,062 | |||||
| Total unrealised gains at |
31 | December | included | in the valuations | above | 533,562 | 3,205,818 |
| 2022 f |
2021f | |||||
|---|---|---|---|---|---|---|
| 11 | Debtors and prepayments | |||||
| Other debtors | ||||||
| Prepayments | 1,744 | 3,364 | ||||
| 1,744 | 3,364 | |||||
| 2022 | 2021 | |||||
| 12 | Creditors: Amounts |
falling due within one year | ||||
| Bank overdraft | and | credit cards | 906 | 13,996 | ||
| Sundry creditors | 1,512 | |||||
| Income received | in | advance | 2,904 | 1,536 | ||
| Accruals | 17,800 | 7,800 | ||||
| 23,122 | 23,332 |
| Retirement | ||
|---|---|---|
| reserve | ||
| At 1January 2022 | 8,396,250 | |
| Addition to reserve | 186,300 | |
| At 31December | 2022 | 8,582,550 |
| Total designated | funds: | |
| At 31December | 2022 | 8,582,550 |
| At 31December | 2021 | 8,396,250 |
| 14 | Summary offund movements | Summary offund movements | General | Permanent | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | Endowment | |||||||||
| Fund | ||||||||||
| E | f | |||||||||
| Balances at 1January | 2022 | 24,641,039 | 1,500,000 | |||||||
| Income | 88,546 | |||||||||
| Expenditure including |
improvements | to property | written off | (641,652) | ||||||
| Investments gains/(losses) |
(2,661,720) | |||||||||
| Balances at 31December 2022 | 21,426,213 | 1,500,000 | ||||||||
| The Designated Fund |
was increased | by 6186,300 | (2021 —f1,600,500) and stands at E8,582,550at the | year-end. | ||||||
| 15 | Analysis ofnet assets | between | funds at 31December 2022 | General | Designated | |||||
| funds | funds | |||||||||
| f | f | |||||||||
| Tangible fixed assets, | investments | and | cash awaiting | investment | 12,784,149 | 8,582,550 | ||||
| Net current assets | 59,514 | |||||||||
| 12,843,663 | 8,582,550 | |||||||||
| Permanent | ||||||||||
| endowment | ||||||||||
| funds | ||||||||||
| f. | ||||||||||
| Fixed assets —freehold |
property | 1,500,000 | ||||||||
| Total net assets | 22,926,213 |