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2021-07-31-accounts

Page
Reference andAdministrativeDetailsof theCharity, its TrusteesandAdvisers 1
Trustees'Report
lndependentAuditors'Report 6-8
StatementofFinancialActivities
BalanceSheet 10
Statement ofCashFlows 11
Notesto the Financial Statements 12-23

5 July

Unrestricted Restricted Total Total
funds funds funds funds
Note 2021
f		 2021
e		 2021t 2020t
INCOMEFROM;
Donations and legacies 3,241 3,241 496,302
Charitable activities:
Theological education 161,595 16'1,595 604,490
lnvestments 3 17,880
Rents andvisitor income 10.s48 10,548 58,386
Other lncome-sale offixedassets 44,367
TOTALINCOME 175,384 175,3841,22',1,425
EXPENDITUREON:
Charitableactivities:
Teaching 81,557 - 8'1,557 283,826
Residential 88.223 260.596
Premises
Transferto successor entity		 18 123,989

2 799 093		 _
123,989
324,0'133,123,106		 414,114
TOTAL EXPENDITURE 5 3.092.862324.0133.416,875958.536
NETINCOME / (EXPENDITURE) BEFORE
INVESTMENT GAINS (2,917,478) (324,013) (3,241,491) 262,889
Netgains oninvestments 8 32,497 - 32.497 (53.730)
NET INCOME/ (EXPENDITURE) (2,884,981)(324,013)(3,208,994)209,159
RECONCILIATION OFFUT,IDS:
Totalfundsbroughtforward 2,884.98't324,0133.208,994 2.999,835
TOTALFUNDSCARRIED FORWARD ___3208,994

Nole t 2021
€		 t 2020 I
FIXEDASSETS
Tangibleassets 7 I,807,474
lnvestments 8 507.984
2,315,458
CURRENTASSETS
Debtors 9 435.639
Cash at bankandin hand 521 760
957,399
CREDITORS: amounts fallingduewilhin
oneyear 10 (63,863)
NETCURRENT ASSETS 893,536
NETASSETS 3208,994
CHARITYFUNDS
Restrictedfunds 11 324,O13
Unrestrictedfunds 11 2,884,9J1
TOTAL FUN9S 3.208.994
TheIlnancial statements were approved and authorisedforissue by the Trusteeson
 !v -(*lt1 2022

Note 2021t 2020
t
Cashflowsfrom operatingactivities
Netcash providedbyoperating activities 13 269.769 79
Cashflowsfrom investingactivities:
Dividends, inlerest andrentsfrominvestments 43,653
Purchase oftangible fixedassets (33,927)
Netcash used in investingactivities 9,726
Change incashand cash equivalentsinthe year 269,769 9,805
Cashand cash equivalentsbroughtforward 521,760 511,955
Cashandcashequivalents transferredtosuccessorentity 't4 _f9l529_l2L7o0

Staff costs were asfollows
2021
s		 2020
t
Wages andsalaries 96,892 36'l,357
Social security costs 1,442 19,517
Otherpensioncosts 7,207 5,495
Redundancycosts 16,762
TheaveragenumberofpersonsemployedbytheCharity d uring theyearwas asfollo ws
2021 2020
No No
Professorsfulltime 7
TutorsParttime 1 1 0
Administration 4
Other -catering, domestic,groundsetc 5 7
__E

DONATIONS AND LEGACIES
2021t 2020
!
Legacies 350,000
Donations 3,241 86,442
Furloughgrants 59,860
3247 496.302
___
INVESTMENTINCOME
Unrestricted Restricted Total Tolal
funds funds funds funds
2021t 2021I 2021
L		 2020t
lnvestmentincome __17.880
folal2020 12.001
5.219
17.880

SUPPORT COSTS
Total Total
Teaching
e		 Residential
E		 Premises
€		 2021
€		 2020r
Offlce 9,686 4,151 13,837 38,903
Chapel 375 375 1,12s 3,67'1
Professionalfeesandcharges 712 712 712 z,tJo 43,304
Wages andsalaries 20,631 I,U2 29.473 107,696
Nationalinsurance
Pensioncost		 1,634
u1		 700
146		 2,334
487		 7,144
'1,898
33.379 1.087 '14.926 _
49.392		 202616
Comparative amounts:
Office 27,232 11.671 38,903
Chapel 1,224 1,224 1,223 3,671
Professionalfeesandcharges '14,435 14.434 '14.435 43,304
Wages andsalaries 75,387 32.309 107,696
National insurance 5,001 2.143 7,144
Pensioncosl 1,328 570 1,898
124.601 15.658 62,351202,616
ANALYSIS OF EXPENDITURE BY EXPENDITURETYPE
StaffcostsDepreciation
2021
2021
et		 Othercosts
2021
e		 Total
2021
e		 Total
2020
€
Teaching 60,170 21,387 81,557 283,826
Residenlial 52,445 35,778 88.223 260,596
Premises 9,688 22,250 92,051 123.988 414,114
Transferto successor entity 3,123,106 3,123,'106
122.303_
22250		 3.272.322 3.416.875 958.536
Comparative amounts:
Teaching 204,935 78,891 283,826
Residential 13'1,811 128,785 260,596
Premises 49,623 138,978 225,513 414,'t 14
386,369 138,978 433.189 958.536

TANGIBLEFIXEDASSETS
Freehold Fixtures and
property
t		 Motorvehicles
t		 fittings
t		 Total
E
Cost
At1August 2020 2,163,53135,574 434,2U 2,637,369
Transferto successor enlity (2.163.531)(35.574) A38.264.|(2.637.369)
At31 July 2021
Depreciation
Al1August 2020
Charge forthe year
Transferto successor enlity		 472.455
39.670
(512.125|35,574
321,866829,895
13,637
53,307
(35.574)(335,503)
(883.202)
At31 July2021
Netbook value
At 31 July 2021
At31 July2020 1.691.070 __11639& _L801414

.
FIXEDASSET INVESTMENTS
Listed
securities
f
Marketvalue
At1August 2020 507,984
Gains/(Losses)
Transferto successor entity		 32.497
(540.48't)
At31 July2021
lnvestments at marketvaluecomprise:
2021
L		 2020t
Listed investments =___:==========__507184

2021t 2020
!
Tradedebtors 4,306
Legaciesaccrued 350,000
Prepaymentsand accruedinmme 81,333
435,639
CREDITORS:Amountsfallingduewithinoneyear
2021 2020
€ €
Tradecreditors 48,905
Accrualsanddeferredincome 14,958
_ 03-863

STATEMENT OF FUND S-CURRENTYE AR
Balanceat1 Transfers Gains/ Balanceat31
August 2020
e		 lncome
E		 Expenditure
t		 in/out
e		 (Losses)
e		 July 2021
t
Unrestrictedfunds
GeneralFunds-allfunds2,884,981 175.384 (3.092.862) 32,497
Restrictedfunds
Knights of StColombia
Fund 2,061 (2,061)
Rectors Fund '12,088 (12,088)
WalterQuinlanFund 153,494 (153,494)
RefurbishmentFund 87,417 (87,417)
ChapelChallenge 68,953 (68,9s3)
u4.a1i (324.013)
Totaloffunds 3208-994 175.384 (3.416.875) =i2a9L

Balanceat'1 Transfers Gains/ Balance at31
August20'19
E		 lncome
e		 Expenditure
t		 in/out
€		 (Losses)
l		 July2020
t
Unrestrictedfunds
GeneralFunds -allfunds2.618.871 1.167,893(910.031) 46.064
(37.816)		 2.884.981
Restrictedfunds
Knighls ofStColombia
Fund 2,061 2,061
Rectors Fund
Walter QuinlanFund		 12,422
164,1II		 5,219 (334) (15,914) 12,088
153,494
RefurbishmentFund 139,123 14,401 (37,614) (28,493) 87,4'17
SmokersProject 500 (500)
ChapelChallenge 39,359 33,4't2 (3,818) 68,953
lvlagazine fund 6,239 (6,239)
Wntersbooks 't7,571 (17,571)
380.964 53,532(48,505) (46.064)(15,914) 324.O',13
Total offunds 2,999,835 1. 1,425 (958.53O (53J30)3.208,994

R
Unrestricted Restricted Total
funds funds funds
2021
e		 2021
€		 2021t

Unrestricted Restricted Total
funds funds fund s
2020
t		 2020
€		 2020
f
Tangiblefixedassets 1,807,474 1,807,474
Fixedasset investments 354,490 153,494 507,984
Currentassets 786,880 170,519 957,399
Creditors duewithinoneyear (63,863) (63,863)
2.884,981 324.O13 .3.208.994

RECONCILIATIONOFNET MOVEMENT INFUNDSTONETCASH
ACTIVITIES		 FLOWFROMOPERA TING
2021 2020
e €
Net income forthe year(asperStatement ofFinancialActavitaes) (3,208,994)209,159
Adiustmentfor:
Depreciationcharges 53,307 138,978
(Gains)/losses on investments (32.497) 53,730
Dividends, inlerestand rentsfrom investments (43,6s3)
Transferto successor entity 3,123,'106
Decrease/(increase)indebtors 203,41',! (392,780)
lncreaseincreditors 131 436 .3!-045
Netcashprovidedbyoperatingactivities
269,769 79

ANALYSISOFCASH AND CASH EQUIVALEN TS
2021r 2020
e
Cash in hand 521.760
Total
521.760


251342), weretransferredintothe ClO, the suc
cessorentity.Theanalysisofnet asse
€
Fixed assets 1,754J67
lnvestments 540,481
Netcurrentassets 828,458