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2020-12-31-accounts

Charity Registration No. 252929

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Rev L O'Donovan SCA Rev P Makita SCA (Appointed 30 November 2020) Rev L McClarey SCA (Appointed 30 November 2020) Rev E Monson SCA (Appointed 30 November 2020) Charity number 252929 Principal address Our Lady of the Visitation 358 Greenford Road Greenford Middlesex UB6 9AN Independent examiner Darren Harding ACA FCCA DChA Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

CONTENTS

Page
Trustees' report 1 - 3
Independent examiner's report 4
Statement of financial activities 5 - 6
Balance sheet 7
Notes to the financial statements 8 - 17

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and financial statements for the year ended 31 December 2020.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed , the Charities Act 2011 and "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 2019)".

Objectives and activities

The objects of the charity are set out in the trust deed and are to undertake such charitable purposes which advance the religious and other charitable work for the time being carried on by the Pallottine Fathers. There has been no change in these objects during the year.

The Society of the Catholic Apostolate is a community of priests and brothers who endeavour to revive the faith of the entire People of God, to re-enkindle their love and to spread these virtues throughout the whole world so that soon there may be but one flock and one shepherd.

In particular the Society awakens and deepens in all the Faithful an awareness of their apostolic vocation, it encourages them to take an active part in the apostolate and it helps them to be ready and willing to co-operate with one another in carrying out our apostolate activities.

The Society undertakes to co-operate with other apostolate efforts of the Church and to develop forms of the apostolate which are in accordance with the needs of our times.

It works with all its energy for unity among Christians and it strives to communicate the Good News to those who do not know it, so that the Church may be a more effective sign of unity and salvation for the whole world.

To accomplish this, the Society will use whatever means are appropriate to promote, defend, and nourish Christian life. It prefers those works which best respond to its aims and for which it is best suited as a community of priests and brothers. Moreover, in selecting apostolate activities, it considers the more urgent needs of the Church, the conditions of the times and local circumstances, and promotes social justice according to the teachings of the Gospel. Therefore, in its apostolic works, it is open to the needs of socially neglected groups, such as the poor, the aged, the sick and all those who in any way are the object of social discrimination.

The Society, will, according to its possibilities, promote and use the means of social communication and all other means which are particularly useful to the spread of the gospel and of Christian values. Our mission demands that we be always open to the spiritual aspirations and religious needs of people.

The Society, in the service of the missionary task of the Church, strives to bring knowledge of the Gospel to those who do not yet know it. Missionaries in their efforts to implant knowledge of the Church will be ready to conform to the way of life of the land in which they work and to incorporate into the life of the Christian community the values of the local culture. At the same time, they spare no effort to bring about improvements in social and cultural conditions, if such are required .

Public benefit

The charity's trustees have referred to the guidance in the Charity Commission's general guidance on Public Benefit when reviewing the charity's aims and objectives and in planning its future activities. In particular, they have considered how planned activities will contribute to the aims and objectives they have set.

Achievements and performance

Charitable activities

The Charity continue to manage the Catholic parishes of our Lady of the Visitation Greenford, St Mary Star of the Sea Hastings, St Thomas Moore Barking. All of our parishes provide a full range of services to the Catholic community. We also provide a range of facilities for the wider community.

Each year we like to give an overview of the activities undertaken at one of our Parish's and this year we are focussing on Greenford.

Richard Place Dobson page 1

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

Greenford Parish Profile

Greenford which forms part of the London Borough of Ealing is the Church of Our Lady of the Visitation where almost three thousand people worship at the Church every weekend. There are also regular religious education classes offered to children and young adults preparing to make their first Holy Communion and Confirmation Rites. Assistance in religious education also extends to approximately three thousand pupils who attend the Nursery, Primary and Secondary Schools which are situated on the same site as the Church.

A significant proportion of the work carried out by the Pallottine Fathers is devoted to visiting people who are sick, lonely, in prison or suffering drug addiction. They visit them in their homes, in hospital and in care homes on a regular basis to offer friendship, pastoral and spiritual comfort.

Financial review

Financial position

During the year the charity had net outgoing resources of £27,141 (2019: £2,168) as shown in the Statement of Financial Activities on page 5. The funds and assets of the charity are held to enable the priests and lay workers to provide the religious work carried out by the Society. The charity's land and buildings have been included in the accounts at cost in accordance with accounting standards since all are held and used for charitable purposes.

Reserves policy

It is the policy of the charity to maintain unrestricted funds which have not been designated, which are the free reserves of the charity, at a level equivalent to approximately 6 to 12 months expenditure. At the end of the year the trustees are aware that free reserves are significantly in excess of this amount but anticipate this will be used in the following period.

The unrestricted reserves are now £192,515 (2019: £164,324), with designated reserves of £1,092,221 (2019: £1,145,404) and restricted funds are £257,385 (2019: £259,934).

Going concern

The trustees are of a view that the charity is a going concern.

Structure, governance and management

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

The charity was established by a charitable trust deed on 7 June 1967. The charity's objects are to promote the charitable work of the English delegature of the Irish Province of the Society of the Catholic Apostolate.

The trustees were first registered by the Charity Commission on 10 July 1967 under the name of 'The Trustees of the Society of the Catholic Apostolate'. On 5 November 1997, the trustees changed the name of the charity, under a Charity Commission scheme, to 'Society of the Catholic Apostolate Charitable Trust'.

The trustees who served during the year and up to the date of signature of the financial statements were: The trustees who served during the year and up to the date of signature of the financial statements were:
Fr Jeremiah Murphy SCA (Resigned 31 December 2020)
Fr John O'Brien SCA (Resigned 31 December 2020)
Rev. T Daly (Resigned 31 December 2020)
Rev L O'Donovan SCA
Rev P Makita SCA (Appointed 30 November 2020)
Rev L McClarey SCA (Appointed 30 November 2020)
Rev E Monson SCA (Appointed 30 November 2020)

Recruitment and appointment of new trustees

The power to appoint and remove trustees rests with the Superior.

Richard Place Dobson page 2

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

I report to the trustees on my examination of the financial statements of The Society of The Catholic Apostolate Charitable Trust (the charity) for the year ended 31 December 2020.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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 financial statements to be reached.

Darren Harding ACA FCCA DChA

Richard Place Dobson Services Limited 1-7 Station Road Crawley West Sussex RH10 1HT

Dated: 3rd December 2021

Richard Place Dobson

page 4

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2020

Current financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
d esignated
2020
2020
2020
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
28,766
-
-
Charitable activities
4
106,798
13,384
6,727
Investments
5
2,976
663
-
Other income
6
3,828
-
-
Total income
142,368
14,047
6,727
Expenditure on:
Raising funds
7
7,647
-
-
Charitable activities
8
126,763
46,997
8,876
Total resources expended
134,410
46,997
8,876
Net incoming/(outgoing) resources
before transfers
7,958
(32,950)
(2,149)
Gross transfers between funds
20,233
(20,233)
-
Net income/(expenditure) for the year/
Net movement in funds
28,191
(53,183)
(2,149)
Fund balances at 1 January 2020
164,324
1,145,404
259,534
Fund balances at 31 December 2020
192,515
1,092,221
257,385		 Total
2020
£
28,766
126,909
3,639
3,828
163,142
7,647
182,636
190,283
(27,141)
-
(27,141)
1,569,262
1,542,121		 Total
2019
£
52,825
143,619
3,824
8,763
209,031
3,753
207,446
211,199
(2,168)
-
(2,168)
1,571,430
1,569,262

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Richard Place Dobson page 5

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Prior financial year
Unrestricted Unrestricted
Restricted
funds
funds
funds
general
d esignated
2019
2019
2019
Notes
£
£
£
Income and endowments from:
Donations and legacies
3
52,825
-
-
Charitable activities
4
100,544
31,484
11,591
Investments
5
3,824
-
-
Other income
6
8,763
-
-
Total income
165,956
31,484
11,591
Expenditure on:
Raising funds
7
3,753
-
-
Charitable activities
8
121,081
63,849
22,516
Total resources expended
124,834
63,849
22,516
Net incoming/(outgoing) resources before
transfers
41,122
(32,365)
(10,925)
Gross transfers between funds
(3,812)
3,812
-
Net income/(expenditure) for the year/
Net movement in funds
37,310
(28,553)
(10,925)
Fund balances at 1 January 2019
127,014
1,173,957
270,459
Fund balances at 31 December 2019
164,324
1,145,404
259,534		 Total
2019
£
52,825
143,619
3,824
8,763
209,031
3,753
207,446
211,199
(2,168)
-
(2,168)
1,571,430
1,569,262

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

Richard Place Dobson page 6

2020 2019 2020 2019 2020 2019
Notes 豊 嶋 豊 ま
Fixed種§SetS
Tangible assets 宣2 526,1 64 569,516
Current assets
Stocks 13 5,825 6,622
Debtors 14 1 7,092 14,003
Inv e stments 15 322,223 321,925
Cash at bank and in hand 684,276 67l,110
工,029,416 l,013,660
Creditors: amOuntS fal書ing due within one
year 16 (13,459) (13,914)
Net current assets l,015,957
Tbta看assets les§ Current liabi]ities l,542,121
Income funds
Restricted funds 17 257,385 259,534
Uurestricted ftmds
Designated funds 18 1 ,092,221 1 , 145,404
General umestricted funds 192,515 1 64,324
1 ,284,736 l,309,728
1 ,569,262

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

Charity information

The Society of The Catholic Apostolate Charitable Trust is a charity and their registered charity number is 252929.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's trust deed, the Charities Act 2011 and "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 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements .

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Donations, legacies and similar incoming resources are included in the year in which they are receivable which is when the charity became entitled to the resource.

Investment income is recognised on a receivable basis.

Income from charitable activities includes income from masses and repository income and is recognised as earned.

Other income includes the profit from disposal of fixed assets.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity heading:

Richard Place Dobson page 8

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

Expenditure on charitable activities which is the provision of religious services and their associated support costs.

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office related costs and governance costs which support the charity's activity. These costs have been allocated to expenditure on charitable activities. Only one direct charitable activity has been identified so all support costs are in relation to that activity.

Governance costs include those incurred in the governance by the trustees of the charity's assets and are primarily associated with constitutional and statutory requirements of operating the charity.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property Straight line over 50 years Long leasehold Straight line over 50 years Fixtures, fittings & equipment 10% Straight line Motor vehicles Straight line over 4 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.7 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.8 Financial instruments

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.9 Taxation

The charity is not subject to corporation tax or any other taxes on income or gains arising from its charitable objectives.

1.10 Debtors, cash and creditors

Other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably results in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

Richard Place Dobson page 9

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

1 Accounting policies

(Continued)

1.11 Investments

Current asset investments are stated at market value. Gains and losses on investments are reflected in the Statement of Financial Activities.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The main judgement and accounting estimates included in the accounts are:

3 Donations and legacies

Unrestricted Unrestricted
funds funds
general general
2020 2019
£ £
Donations and gifts 28,766 52,825

4 Charitable activities

Provision of Provision of
religious religious
services services
2020 2019
£ £
Ministerial income 36,750 36,786
Masses said 27,653 36,247
Mass league income 13,384 31,484
Repository income 42,125 24,687
Mission masses/annual mission 6,997 14,415
126,909 143,619

Richard Place Dobson page 10

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

4
Charitable activities
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds		 (Continued)
106,798
100,544
13,384
31,484
6,727
11,591
126,909
143,619		 (Continued)
106,798
100,544
13,384
31,484
6,727
11,591
126,909
143,619
143,619

5 Investments

Unrestricted Unrestricted
funds
funds
general
d esignated
2020
2020
£
£
Rental income
2,910
-
Interest receivable
66
663
2,976
663		 Total
Unrestricted
funds
general
2020
2019
£
£
2,910
3,660
729
164
3,639
3,824		 Total
Unrestricted
funds
general
2020
2019
£
£
2,910
3,660
729
164
3,639
3,824
3,824

6 Other income

Unrestricted Unrestricted
funds funds
general general
2020 2019
£ £
Net gain on disposal of tangible fixed assets - 8,763
Other income 3,828 -
3,828 8,763
Raising funds
Unrestricted Unrestricted
funds funds
general general
2020 2019
£ £
Trading costs
Other trading activities 7,647 3,753
7,647 3,753

7 Raising funds

Richard Place Dobson page 11

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2020

8 Charitable activities

Provision of Provision of
religious religious
services services
2020 2019
£ £
Depreciation and impairment 43,352 42,682
Household members allowance 35,853 37,239
Payments to missions and charities 6,129 10,760
Formation and educational expenses 650 7,200
Contributions to province 17,745 40,000
Repository purchases 17,899 14,602
Mass league expenses 3,645 13,967
Repairs and maintenance 2,747 11,756
Motor and travel expenses 15,745 7,653
143,765 185,859
Share of support costs (see note 9) 32,194 14,987
Share of governance costs (see note 9) 6,677 6,600
182,636 207,446
Analysis by fund
Unrestricted funds - general 126,763 121,081
Unrestricted funds - designated 46,997 63,849
Restricted funds 8,876 22,516
182,636 207,446

Richard Place Dobson page 12

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

9 Support costs

Support costs Governance
costs
£
£
Insurance
11,775
-
Office and misc expenses
20,419
-
Bookkeeping
-
-
Independent examination
fees
-
6,600
Bank charges
-
77
32,194
6,677
Analysed between
Charitable activities
32,194
6,677		 2020Support costs
Governance
costs
£
£
£
11,775
6,439
-
20,419
2,883
-
-
5,665
-
6,600
-
6,600
77
-
-
38,871
14,987
6,600
38,871
14,987
6,600		 2019
£
6,439
2,883
5,665
6,600
-
21,587
21,587

Governance costs includes payments to the independent examiner of £ 6,600 (2019- £ 6,600 ) .

10 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Trustees' expenses

Direct charitable expenditure includes the cost of indemnity insurance provided for the trustees. It is not possible to give details of the cost of providing such insurances as the breakdown of the premium payable has not been disclosed.

As members of the Society, the trustees' living expenses during the year were borne by the charity.

11 Employees

The average monthly number of employees during the year was:

2020 2019
Number Number
Total - -

There were no employees during the year.

The charity has issued a contract of employment to the Manager of the 'Visitation Parish Centre Club' for his duties undertaken there. His salary is paid by the diocese. Further details of the relationship between the charity, the Diocese and the 'Visitation Parish Centre Club' are disclosed in note 19.

Richard Place Dobson page 13

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

12
Tangible fixed assets
Cost
At 1 January 2020
Disposals
At 31 December 2020
Depreciation and impairment
At 1 January 2020
Depreciation charged in the year
Eliminated in respect of disposals
At 31 December 2020
Carrying amount
At 31 December 2020
At 31 December 2019		 Freehold
property
Long leasehold Fixtures, fittings
& equipment
Motor vehicles
£
£
£
£
2,322,383
191,000
371,327
103,778
-
-
-
(21,052)
2,322,383
191,000
371,327
82,726
1,891,939
127,580
349,568
49,885
17,367
3,020
4,758
18,207
-
-
-
(21,052)
1,909,306
130,600
354,326
47,040
413,077
60,400
17,001
35,686
430,444
63,420
21,759
53,893		 Total
£
2,988,488
(21,052)
2,967,436
2,418,972
43,352
(21,052)
2,441,272
526,164
569,516

The properties above include churches which are written off completely in the year of purchase as, due to their nature, they are historic and do not have a quantifiable market value.

Leasehold property all relates to long leaseholds (over 50 years).

13 Stocks

13
Stocks
Finished goods
14
Debtors
Amounts falling due within one year:
Other debtors
Prepayments		 2020
£
5,825
2020
£
17,092
-
17,092		 2019
£
6,622
2019
£
2,716
11,287
14,003

Richard Place Dobson page 14

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

15 Current asset investments

Current asset investments
2020 2019
£ £
Unlisted investments 322,223 321,925

Current Asset Investments represent funds invested in a bond with Allied Irish Bank.

16 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other creditors
Accruals		 2020
£
6,859
6,600
13,459		 2019
£
2,958
10,956
13,914

17 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Balance at Incoming Resources Balance at
1 January 2019 resources expended 1 January 2020 resources expended 31 December
2020
£ £ £ £ £ £ £
Missions fund 1,623 570 - 2,193 - - 2,193
Mission
Masses fund 2,145 11,021 (10,760)
2,406		 6,727 (6,129) 3,004
P Twomey
legacy fund 266,691 - (11,756)
254,935		 - (2,747) 252,188
270,459 11,591 (22,516)
259,534		 6,727 (8,876) 257,385

The Missions fund accepts donations for the Pallottine missions abroad. These donations are augmented by transfers made from Pallottine general funds and the combination of these is transmitted to the missions.

The Mission Masses fund accepts donations for masses to be said on the missions and then transfers them directly.

The P Twomey legacy fund is to be used specifically for the benefit of the Parish of the Roman Catholic Church of Our Lady of the Visitation, Greenford.

Richard Place Dobson page 15

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

18 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Balance at
1 January 2020
£
Premises and equipment fund
569,516
Mass League fund
53,117
Retirement fund
522,771
1,145,404
Balance at
1 January 2019
£
Premises and equipment fund
575,185
Mass League fund
27,902
Retirement fund
570,870
1,173,957		 Movement in funds
Incoming
resources
Resources
expended
£
£
-
(43,352)
13,384
(3,645)
663
-
14,047
(46,997)
Movement in funds
Incoming
resources
Resources
expended
£
£
-
(42,682)
29,583
(21,167)
1,901
-
31,484
(63,849)		 Transfers
Balance at
31 December
2020
£
£
-
526,164
(20,233)
42,623
-
523,434
(20,233)
1,092,221
Transfers
Balance at
31 December
2019
£
£
37,013
569,516
16,799
53,117
(50,000)
522,771
3,812
1,145,404		 Transfers
Balance at
31 December
2020
£
£
-
526,164
(20,233)
42,623
-
523,434
(20,233)
1,092,221
Transfers
Balance at
31 December
2019
£
£
37,013
569,516
16,799
53,117
(50,000)
522,771
3,812
1,145,404
1,145,404

The Premises and equipment fund represents the funds necessarily set aside for the charity's occupation of its land and buildings and equipment contained within its premises including motor vehicles.

The Mass League fund represents a separate designated fund used for educational expenses and for the Delegates' administration costs.

The Retirement fund represents a seperate designated fund set aside to provide for the costs of maintaining the members of the Order as they grow older.

19 Related party transactions

The charity is related by being trustee for 'The Charity of the Spiritual Welfare of Members of the Roman Catholic Church administered in connection with the Society of the Catholic Apostolate', charity registration number 252931. The charity is also related by certain common trustees to another charity, 'Miss E L M Coleman's Will Trust', charity registration number 1059954.

'The Visitation Parish Centre Club' is related to the charity as the club's proprietor is a trustee of the charity. The charity runs the premises partly occupied by the club. The diocesan parish charity also occupies the premises. All three bodies share costs and revenues as appropriate.

Richard Place Dobson page 16

THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2020

20 Impact of COVID-19

At the reporting date COVID-19 caused widespread lockdown measures to be imposed in the UK and worldwide. This has resulted in a reduction in both supply and demand in the economy. It is not currently possible to estimate the impact this will have on the future financial results of the charity . The Trustees have assessed the impact of COVID-19 on the results reported for the financial year ended 31 December 2020 and consider that all COVID-19 related costs and effects have been reflected in the accounts.

Richard Place Dobson page 17