**Charity registration number 252929** **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021** ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **LEGAL AND ADMINISTRATIVE INFORMATION** |**Trustees**|Rev L O'Donovan SCA| |---|---| ||Rev P Makita SCA| ||Rev L McClarey SCA| ||Rev E Monson SCA| |**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 - 18| ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **TRUSTEES' REPORT** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ The trustees present their annual report and financial statements for the year ended 31 December 2021. 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. page 1 ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **TRUSTEES' REPORT (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **Achievements and performance** ## **Charitable activities** The Charity continue to manage the Catholic parishes of our Lady of the Visitation Greenford (OLOV), 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. OLOV became agile in the wake of COVID19 and we set up streaming to allow parishioners to have mass online and for greater participation at funerals, when numbers were limited due to COVID restrictions. Telephone calls increased and counselling was done via telephone, where appropriate. When restrictions allowed, hospital visits were done and contact with parishioners who live alone began. As churches were allowed to open, a lot of time and attention was made to ensure our Church was a safe place to worship with volunteers on hand to ensure seating arrangements were COVID safe and our capacity was not breached. Our repository shop opened again with COVID measures to ensure employees and the community were safe to book masses and purchase items. ## **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 incoming resources of £11,291 (2020: net outgoing resources of £27,141) 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 £485,236 (2020: £192,515), with designated reserves of £831,408 (2020: £1,092,221) and restricted funds are £236,768 (2020: £257,385). ## **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: Rev L O'Donovan SCA Rev P Makita SCA Rev L McClarey SCA page 2 THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST TRUSTEES, REPOKt (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021 Rev E Monso# SCA R¢¢tultm¢ttt appolDtment of new t)Tste Th¢ pow¢r lo apw>int a]xd remove ttusiees Tests with th¢ Superior. Rlsk managemeTrt The trustees have examined the major str*c8ic. busin￿ and opeAtional risks which the tharity is exposed to amd confimj that systems are being tsrablished to cnable regular io be produ¢¢d so thai tt¢ce8S￿ Steps b¢ rak¢n to mitigat¢ exposure 10 the major risks. TrU￿te$ have given ¢onsiderAtiOt) to the ChAfiti¢6 SORP fStstrmettL of Re¢ommended PracLice'l Commillec's advic¢ in ILS publieaiion 'Implicaiions of COVIIN19 Control M¢asw¢s and Clwity Firtancial R¢pofting' and to th¢ risks arising as o result of th¢ ¢oronavinJs pondemi¢. The LhNnty is dciivtly TnonitOTing and managing ¢he SID￿10￿ as li dev¢lops. The tNstccs' ￿rrt)rt was apwovcd by thc Board of Tn￿e¢s. R•v Llom O'Donovan Dated.. p4¢3 ## **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 2021. ## **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** Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies. 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: - 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or - 2 the financial statements do not accord with those records; or - 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. 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: 31 October 2022 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 2021**_ |**Current financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**2021**
**2021**
**2021**
**Notes**
**£**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
82,197
-
7,650
Charitable activities
**4**
67,069
31,488
7,593
Investments
**5**
3,004
-
-
Other income
**6**
56,507
-
-
**Total income**
208,777
31,488
15,243
**Expenditure on:**
Raising funds
**7**
2,103
-
-
Charitable activities
**8**
134,177
72,077
35,860
**Total expenditure**
136,280
72,077
35,860
**Net incoming/(outgoing) resources before**
**transfers**
72,497
(40,589)
(20,617)
Gross transfers between funds
220,224
(220,224)
-
**Net income/(expenditure) for the year/**
**Net movement in funds**
292,721
(260,813)
(20,617)
Fund balances at 1 January 2021
192,515
1,092,221
257,385
**Fund balances at 31 December 2021**
485,236
831,408
236,768|**Total**
**2021**
**£**
89,847
106,150
3,004
56,507
255,508
2,103
242,114
244,217
11,291
-
11,291
1,542,121
1,553,412|**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| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 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 2021**_ |**Prior financial year**
**Unrestricted**
**Unrestricted**
**Restricted**
**funds**
**funds**
**funds**
**general**
**designated**
**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 expenditure**
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 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| |---|---| page 6 THE SOCIETY OF THE CATHOLIC APOSTOLATE CHAIUTABLE TRUST BALANCE SHEET ASA T31 DECEMBER 2021 2021 2020 Note5 Flied assets Tathgible &%s¢ts J2 484.241 526,164 Current Assets Stock8 Debwr8 Invcstmcnts C&sh at ￿rtk attd in hand 13 14 Is 8257 34.909 5,823 17.092 322223 684276 1.041,424 1.084.59XI 1,029,416 Cr¢dltors: amountj fallln% due *lthln one ytar 16 (15,419) (13,4591 Net eurrent ￿Sets 1.069,171 1.015,937 Tolgl ¥¥¢1• lu¥ eurreni ll#blUlies lJ33.412 J.$42,121 In¢om¢ ts#di Reslric¢cd funds 17 236,768 257,385 r)esignated fvnds Genernl WlTtstricied fiJt)d8 18 831,408 485236 1.092221 192.515 1.316.644 1,284,736 .S53.4l2 1,542,121 The fitL4ncial Ét&tements were wroved by the TnLs*es on. Rev Liam Q'Donovan Trustet page 7 **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **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 amounts 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: page 8 **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **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 the statement of financial activities. ## **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. ## **1.11 Investments** Current asset investments are stated at market value. Gains and losses on investments are reflected in the Statement of Financial Activities. page 9 **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **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: - Depreciation - Management has made assumptions and estimated depreciation rates in respect of showing a true and fair view of the assets at the balance sheet date. ## **3 Donations and legacies** ||**Unrestricted**|**Restricted**|**Total**|Unrestricted| |---|---|---|---|---| ||**funds**|**funds**||funds| ||**general**|||general| ||**2021**|**2021**|**2021**|2020| ||**£**|**£**|**£**|£| |Donations and gifts|82,197|7,650|89,847|28,766| ## **4 Charitable activities** ||**Provision of**|**Provision of**| |---|---|---| ||**religious**|**religious**| ||**services**|**services**| ||**2021**|**2020**| ||**£**|**£**| |Ministerial income|22,446|36,750| |Masses said|32,602|27,653| |Mass league income|31,488|13,384| |Repository income|12,021|42,125| |Mission masses/annual mission|7,593|6,997| ||106,150|126,909| page 10 ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**4**
**Charitable activities**
Analysis by fund
Unrestricted funds - general
Unrestricted funds - designated
Restricted funds|**(Continued)**
67,069
106,798
31,488
13,384
7,593
6,727
106,150
126,909|**(Continued)**
67,069
106,798
31,488
13,384
7,593
6,727
106,150
126,909| |---|---|---| |||126,909| ## **5 Investments** |**6**
**7**|**Unrestricted**
Unrestricted
Unrestricted
Total
**funds**
funds
funds
**general**
general
designated
**2021**
2020
2020
2020
**£**
£
£
£
Rental income
2,590
2,910
-
2,910
Interest receivable
414
66
663
729
3,004
2,976
663
3,639
**Other income**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Other income
56,507
3,828
**Raising funds**
**Unrestricted**
Unrestricted
**funds**
funds
**general**
general
**2021**
2020
**£**
£
Trading costs
Other trading activities
2,103
7,647
2,103
7,647|Total
2020
£
2,910
729| |---|---|---| |||3,639| |||7,647| page 11 ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **8 Charitable activities** ||**Provision of**|**Provision of**| |---|---|---| ||**religious**|**religious**| ||**services**|**services**| ||**2021**|**2020**| ||**£**|**£**| |Depreciation and impairment|41,923|43,352| |Household members allowance|71,130|35,853| |Payments to missions and charities|14,186|6,129| |Formation and educational expenses|8,738|650| |Contributions to province|11,989|17,745| |Repository purchases|12,228|17,899| |Mass league expenses|30,154|3,645| |Repairs and maintenance|25,263|2,747| |Motor and travel expenses|487|15,745| ||216,098|143,765| |Share of support costs (see note 9)|16,060|32,194| |Share of governance costs (see note 9)|9,956|6,677| ||242,114|182,636| |**Analysis by fund**||| |Unrestricted funds - general|134,177|126,763| |Unrestricted funds - designated|72,077|46,997| |Restricted funds|35,860|8,876| ||242,114|182,636| page 12 **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **9 Support costs** |**Support costs**
**Governance**
**costs**
**£**
**£**
Insurance
10,580
-
Office and misc expenses
3,980
-
Bookkeeping
1,500
-
Independent examination
fees
-
9,780
Bank charges
-
176
16,060
9,956
Analysed between
Charitable activities
16,060
9,956|**2021**
Support costs
Governance
costs
**£**
£
£
10,580
11,775
-
3,980
20,419
-
1,500
-
-
9,780
-
6,600
176
-
77
26,016
32,194
6,677
26,016
32,194
6,677|2020
£
11,775
20,419
-
6,600
77| |---|---|---| |||38,871| |||38,871| Governance costs includes payments to the independent examiner of £6,600 (2020- £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: ||**2021**|**2020**| |---|---|---| ||**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. There were no employees whose annual remuneration was more than £60,000. page 13 ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**12**
**Tangible fixed assets**
**Cost**
At 1 January 2021
At 31 December 2021
**Depreciation and impairment**
At 1 January 2021
Depreciation charged in the year
At 31 December 2021
**Carrying amount**
At 31 December 2021
At 31 December 2020|**Freehold**
**property**
**Long leasehold Fixtures, fittings**
**& equipment**
**Motor vehicles**
**£**
**£**
**£**
**£**
2,322,383
191,000
371,327
82,726
2,322,383
191,000
371,327
82,726
1,909,306
130,600
354,326
47,040
17,367
3,020
4,154
17,382
1,926,673
133,620
358,480
64,422
395,710
57,380
12,847
18,304
413,077
60,400
17,001
35,686|**Total**
**£**
2,967,436| |---|---|---| |||2,967,436| |||2,441,272
41,923| |||2,483,195| |||484,241| |||526,164| 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** |Finished goods
**14**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments
**15**
**Current asset investments**
Unlisted investments|**2021**
**£**
8,257
**2021**
**£**
25,634
9,275
34,909
**2021**
**£**
-|**2020**
**£**
5,825| |---|---|---| |||**2020**
**£**
17,092
-| |||17,092| |||**2020**
**£**
322,223| Current Asset Investments represent funds invested in a bond with Allied Irish Bank. page 14 **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **16 Creditors: amounts falling due within one year** |**Creditors: amounts falling due within one year**||| |---|---|---| |Other creditors
Accruals|**2021**
**£**
4,330
11,089
15,419|**2020**
**£**
6,859
6,600| |||13,459| ## **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**|**resources**|**expended**|**1 January**|**resources**|**expended**
**31 December**|| ||**2020**|||**2021**|||**2021**| ||**£**|**£**|**£**|**£**|**£**|**£**|**£**| |Missions fund|2,193|-|-|2,193|-|-|2,193| |Mission|||||||| |Masses fund|2,406|6,727|(6,129)|3,004|7,593|(10,597)|-| |P Twomey|||||||| |legacy fund|254,935|-|(2,747)|252,188|-|(17,613)|234,575| |Christmas Crib|-|-|-|-|7,650|(7,650)|-| ||259,534|6,727|(8,876)|257,385|15,243|(35,860)|236,768| 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. The Christmas Crib fund represents donations received in order for the charity to purchase a Christmas Crib. page 15 ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **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: |
Premises and equipment fund
Mass League fund
Retirement fund|**Balance at**
**1 January**
**2020**
**£**
569,516
53,117
522,771
1,145,404|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
-
(43,352)
13,384
(3,645)
663
-
14,047
(46,997)|**Transfers**

**£**
-
(20,233)
-
(20,233)|**Balance at**
**1 January**
**2021**
**£**
526,164
42,623
523,434
1,092,221|**Movement in funds**
**Incoming**
**resources**
**Resources**
**expended**
**£**
**£**
-
(41,923)
31,488
(30,154)
-
-
31,488
(72,077)|**Transfers**
**Balance at**
**31 December**
**2021**
**£**
**£**
-
484,241
(23,289)
20,668
(196,935)
326,499
(220,224)
831,408|**Transfers**
**Balance at**
**31 December**
**2021**
**£**
**£**
-
484,241
(23,289)
20,668
(196,935)
326,499
(220,224)
831,408| |---|---|---|---|---|---|---|---| ||||||||831,408| 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. page 16 ## **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ |**19**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Designated**
**funds**
**Restricted**
**funds**
**2021**
**2021**
**2021**
**£**
**£**
**£**
Fund balances at 31 December 2021 are represented by:
Tangible assets
-
484,241
-
Current assets/(liabilities)
485,236
347,167
236,768
485,236
831,408
236,768|**Total**
Unrestricted
funds
Designated
funds
**2021**
2020
2020
**£**
£
£
484,241
-
526,164
1,069,171
192,515
566,057
1,553,412
192,515
1,092,221|Restricted
funds
2020
£
-
257,385
257,385|Total
2020
£
526,164
1,015,957| |---|---|---|---| ||||1,542,121| page 17 **THE SOCIETY OF THE CATHOLIC APOSTOLATE CHARITABLE TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** ## _**FOR THE YEAR ENDED 31 DECEMBER 2021**_ ## **20 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. ## **21 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. page 18