## St Bernadette Trust
Registered Charity Number 510981
# **REPORT AND ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**CONTENTS:**|**PAGE**:|
|---|---|
|Trustees' report|2-4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the accounts|7-8|
|Independent Examiner's report|9|
## **ST BERNADETTE TRUST TRUSTEES' REPORT TRUST PARTICULARS**
## **REGISTERED NUMBER**
510981
## **REGISTRATION DATE**
6th February 1981
## **TRUSTEES**
Maria Hill Paul O'Donnell Peggy O’Donnell June O'Donnell Barry Dean Tracey McAtamney Rebecca O’Donnell Lucy Kennedy Liam Kennedy Tina Hastings
(Chair) (Treasurer) (Secretary)
## **REGISTERED ADDRESS OF TRUST**
39 Lychgate Close, Burbage, LE10 2ES.
## **INDEPENDENT EXAMINER**
Natalie Worth FCCA 3 Blacksmith Close Thrussington Leicester LE7 4UJ
2
**ST BERNADETTE TRUST TRUSTEES' REPORT**
## **OBJECTS**
To provide financial assistance to enable sick and disabled persons to visit Marian shrines.
## **RESPONSIBILITIES OF TRUSTEES**
The law requires the Trustees to prepare financial accounts for each financial year, which give a true and fair view of the state of affairs of the Trust and of the deficit or surplus on the Trust for the year. In preparing those financial accounts the Trustees are required to:
- i. select suitable accounting policies and then apply them consistently.
- ii. make judgements and estimates that are reasonably prudent.
- iii. state whether applicable accounting standards have been followed, subject to any material departures disclosed as explained in the financial accounts.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time, the financial position of the Trust and to Enable them to ensure that the financial accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Trust and hence taking reasonable steps for the prevention and detection of fraud or other irregularities.
## **FINANCIAL RESULTS**
## **(a) UNRESTRICTED FUND**
Total income this year was £16,922 consisting of £306 Interest Received, £13,814 in Dividends and Interest and £2,728 in Donations, the Lourdes Pilgrimage receipts being slae of sweatshirts. Expenditure on Grants in the year was £13,571, leaving an excess of expenditure for the year of £644 after deducting other expenses. Sales of investments realised a loss of £1,597 and the unrealised fall in the value of holdings in the investment portfolio was £7,321. The decrease in the value of the unrestricted fund was £9,562.
## **(b) RESTRICTED FUND**
The Trust organised its thirty sixth annual pilgrimage to Lourdes in 2023, on which there was an excess of expenditure of £930. The planned pilgrimages in 2020, 2021, and 2022 were cancelled due to restrictions to international travel following the Covid-19 pandemic outbreak.
## **GRANTS**
Grants made in the year were £6,085 to St.Bernadette Trust Pilgrims, £850 to HCPT, £2,800 to Birmingham Diocesan Pilgrimage and £3,835 to Across Pilgrims .
Since formation, the Trust has made grants totalling £267,338 to a total of 851pilgrims.
3
## **ST BERNADETTE TRUST TRUSTEES' REPORT**
## **INVESTMENTS**
The market value of the Trust's investment portfolio at 1st January 2023 was £283,766. There were £47,716 investments purchased and £28,741of disposals in the year. At the end of the current financial year, the value of the Trust's portfolio of non-cash investments was £295,419. The value of the investments decreased by £8,918 in the year, £1,527 losses realised on disposals and £7,321unrealised changes in the value of investments.
Gross revenue generated from investment accounts was £13,814 with associated costs of £3,798, giving net income of £10,016.
## **COVID-19 PANDEMIC AND GOING CONCERN**
All pilgrimages to Lourdes ceased in the early part of 2020 due to coronavirus.
A pilgrimage of limited size took place in 2023.
The Trust remains in a strong financial position.
The Trustees therefore consider that the Trust will continue as a going concern into the foreseeable future.
On behalf of the Trustees:
P. V. O'Donnell – Trustee
Signed date
4
## **ST BERNADETTE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|||**Unrestricted**|**Restricted**|**Total**||
|---|---|---|---|---|---|
||**Note**|**Funds**|**Funds**|**2023**|**Total 2022**|
|||£|£|£|£|
|**INCOME**||||||
|Interest received||306||306|21|
|Dividends and interest||13,814||13,814|13,885|
|Donations||2,728||2,728|474|
|Lourdes||||||
|Pilgrimage||||||
|receipts|2|74|15,167|15,241|0|
|**Total income**||16,922|15,167|32,089|14,380|
|**DIRECT CHARITABLE EXPENDITURE**||||||
|Lourdes||||||
|Pilgrimage||||||
|expenses|2|74|16,097|16,171|0|
|Grants||13,571||13,571|5.505|
|Administration||123||123|16|
|Investment Fees||3,798||3,798|3,728|
|**Total expenditure**||17,566|16,097|33,663|9,249|
|**Excess of income**|**over expenditure**|**(644)**|**(930)**|**(1,574)**|**5,131**|
|Profit/(loss) on investments:||||||
|Realised||(1,597)||(1,597)|(675)|
|Unrealised||(7,321)||(7,321)|(48,178)|
|**Net movement in funds**||(9,562)|(930)|(10,492)|(43,722)|
|Fund balances at 1st|January 2022|334,063|23,748|357,811|401,533|
|**Fund balances at 31st December**||324,501|22,818|347,319|357,811|
5
**ST BERNADETTE TRUST BALANCE SHEET AS AT 31ST DECEMBER 2023**
|Note
**FIXED ASSETS**
Investments
3
**CURRENT ASSETS**
Stock
Bank balances
Debtors
Creditor
Net Current
Net assets
Represented by:
**FUNDS**
Unrestricted funds
4
Restricted funds
4|**2023**
£
3,700
36,725
11,475
0|£
295,419
51,900
347,319
324,501
22,818
347,319|**2022**
£
3,774
70,270
0
0|£
283,766
74,044|
|---|---|---|---|---|
|||||357,810|
|||||334,062
23,748|
|||||357,810|
The accounts on pages 2 to 8 were approved by the trustees on …………………………….
J V O’DONNELL
…………………………………….
P V O’DONNELL …………………………………….
6
**ST BERNADETTE TRUST NOTES TO THE ACCOUNTS 31ST DECEMBER 2023**
## **1. ACCOUNTING POLICIES**
## (a) General convention
These accounts have been prepared under the historic cost convention as modified by the revaluation of Investments and in accordance with applicable accounting standards and the Statement of Recommended Practice: Accounting and Reporting by Charities.
## (b) Investments
Investments are included in the accounts at their market value at the end of the financial year, capital gains and losses both realised and unrealised are reflected in the Statement of Financial Activities.
## (c) Funds
Surpluses arising on pilgrimages are treated as Restricted Funds - Lourdes Fund. Other unrestricted funds are regarded as General Funds to be applied in accordance with the Charity's objects. There are no designated funds.
## **2. SURPLUS (DEFICIT) ON LOURDES PILGRIMAGE**
|Receipts
Expenses
**3. INVESTMENTS**
Quoted investments
Market value at 31st December 2022
Additions
Disposals
Net unrealised investment gains/(losses)
**Market value as at 31st December 2023**
Historic cost as at 31st December 2023||**2023**
£
15,167
16,097
930
**2023**
£
283,766
47,716
(28,742)
(7,321)
295,419
298,736||**2022**
£
0
0
0
**2022**
£
357,109
0
(25,000)
(48,343)|
|---|---|---|---|---|
||||||
||||||
|||||283,766|
|||||282,604|
7
## **ST BERNADETTE TRUST NOTES TO THE ACCOUNTS 31ST DECEMBER 2023**
## **4. FUNDS**
|Unrestricted - General
Fund
Restricted - Lourdes Fund|**£**
**Balance**
**1st**
**January**
**2023**
334,062
23,748
357,810|**£**
**Income**
16,922
15,167
32,089|**£**
**Expenditure**
17,492
16,171
33,663|**£**
**Gains/**
**(losses)**
(8,918)
(8,918)|**£**
**Balance 31st**
**December**
**2023**
324,575
22,744
347,319|
|---|---|---|---|---|---|
## **5. SUMMARY OF NET ASSETS BY FUNDS**
|**Unrestricted**
£
Fixed assets
295,419
Net current
assets
29,156
**Net assets**
324,575
**OTHER INFORMATION**
Number of employees
No trustee received any remuneration.
Independent Examiner's fee|**Restricted**
**Total**
£
£
0
295,419
22,744
51,900
22,744
347,319
**2023**
**2022**
Nil
Nil
Nil
Nil|
|---|---|
## **6. OTHER INFORMATION**
8
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST BERNADETTE TRUST**
I report on the accounts of the charity for the year ended 31st December 2023 which are set out on pages 2 to 8.
## **Respective responsibilities of trustees and examiner**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner's statement**
In connection with my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that, in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Natalie Worth (FCCA)) 3 Blacksmiths Close Thrussington Leicester LE7 4UJ
9