2021-12-31-accounts - M S C Charity Trust

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		Page
Report ofthe Trustees	1	to	3
Independent Examiner's Report
Statement ofFinancial Activities
Balance Sheet
Notes to the Financial Statements	7	to	12

FORTHE YEAR ENDED 31ST	DECEMB	ER2021
					2021	2020
			Unrestricted	Restricted	Total	Total
			fund	fund	funds	funds
		Notes
INCOME AND ENDOWMENTS	FROM
Donations and legacies			44,442	772	45414	7,680
Investment income			70,657		70,657	81,186
Total			115,099	772	115,871	88,866
EXPENDITURE ON
Letting ofproperties		4	34,247		34,247	23,971
Charitable activities
Donations			190,000	15,665	205,665	16,520
Subsistence grants for priests			37,500		37,500	34,000
Premises and support costs			13,651		13,651	9,115
Administration costs			33,572		33,572	14,836
Total			308,970	15,665	324,635	98,442
NET INCOME/(EXPENDITURE)			(193,871)	(14,893)	(208,764)	(9,576)
Other recognised gains/(losses)
Gains on revaluation offixed assets						1,298,818
Net movement in funds			(193,871)	(14,893)	(208,764)	1,289,242
RECONCILIATION OF FUNDS
Total funds brought forrvard			4)170,058	14,893	4,184,951	2,895,709
TOTAL FUNDS CARRIED FORWARD			3,976,187		3,976,187	4,184,951

BALANCE SHEET 31STDECEMBER 2021
				2021	2020
		Unrestricted	Restricted	Total	Total
		fund	fund	funds	funds
	Notes
FIXEDASSETS
Tangible assets		3,430,062		3,430,062	3,690,168
CURRENT ASSETS
Debtors		820,469		820,469	35,922
Cash at bank					734,277
		820,469		820,469	770,199
CREDITORS
Amounts falling due within one year	9	(274,344)		(274,344)	(275,416)
NKT CURRENT ASSETS		546,125		546,125	494,783
TOTAL ASSETSLESSCURRENT
LIABILITIES		3,976,187		3,976,187	4,184,951
NET ASSETS		3,976,187		3,976,187	4,184,951
FUNDS	10
Unrestricted funds				3,976,187	4,170,058
Restricted funds					14,893
TOTALFUNDS				3,976,187	4,184,951

2.	DONATIONS AND LEGACIES
		2021	2020
	Donations	45,214	7,680
3.	INVESTMKNT INCOME
		2021	2020
	Rents received	69,253	75,667
	Deposit account interest	1,404	5,519
		70,657	81,186
	LETTING OFPROPERTIES
	Property costs	2021	2020
	Light and heat	1,721	1,178
	Rates and water	2,481	2,083
	Repairs and maintenance	22,864	13,391
	Ground rent and service charges	2,666	2,339
	Management fees	4,515	4,980
		34,247	23,971

HE YEAR ENDED	31STDECEMBER 2021	31STDECEMBER 2021
COMPARATIVES	FORTHE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		fund	fund	funds
				E
INCOME AND ENDOWMENTS FROM
Donations and legacies		501	7,179	7,680
Investment income		81,186		81,]86
Total		81,687	7,179	88,866
EXPENDITURE ON
Letting ofproperties		23,971		23,971
Charitable activities
Donations		13,500	3,020	16,520
Subsistence grants for priests		34,000		34,000
Premises and support	costs	9,115		9,115
Administration costs		14,836		14,836
Total		95,422	3,020	98,442
NET INCOME/(EXPENDITURE)		(13,735)	4,159	(9,576)
Other recognised gains/(losses)
Gains on revaluation	offixed assets	1,298,818		1,298,818
Net movement in funds		1,285,083	4,159	1,289,242
RECONCILIATION	OF FUNDS
Total funds brought	forward	2,884,975	10,734	2,895,709
TOTAL FUNDS CARRIED FORWARD		4,170,058	14,893	4,184,951

TANGIBLE FIXEDA	S	TS
					Fixtures,
					fittings
			Freehold	Other	and
			investment	freehold	computer
			property	properly	equipment	Totals
COST
At 1stJanuary 2021			2,935,000	755,000	74,597	3,764,597
Disposals			(260,000)			(260,000)
At 31stDecember 2021			2,675,000	755,000	74,597	3,504,597
DEPRECIATION
At 1stJanuary 2021					74,429	74,429
Charge for year					106	106
At 31stDecember 2021					74,535	74,535
NET BOOK VALUE
At 31stDecember 2021			2,675,000	755,000	62	3,430,062
At 31stDecember 2020			2,935,000	755,000	168	3,690,168
Freehold investment property		includes the following:
						At valuation
Farmland East Lodge, Princethorpe The Retreat Centre, Princethorpe Gardener's Cottage, Princethorpe					1 2 2 2	1,200,000 425,000 725,000 325,000
						62,675,000
Other freehold property	includes		the following:
						At valuation
						5
2Vita House, Charrington Place, StAlbans The Presbytery, Beaconsfreld Road, StAlbans					3 4	350,000 405,000
						755,000

MSC CHARITY TRUST	MSC CHARITY TRUST	MSC CHARITY TRUST
NOTES TO THK FINANCIAL STATEMENTS -continued
FOR	THE YEAR ENDED 31STDECEMBER 2021
8.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONK YEAR
				2021	2020
	Other debtors			814,132	29,122
	Prepayments and accrued income			6@37	6,800
				820,469	35,922
9.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
				2021	2020
					6
	Other creditors			268,403	268,584
	Accruals and deferred income			5,941	6,832
				274,344	275,416
10.	MOVEMENT IN FUNDS
				Net
				movement	At
		At	1.1.21	in funds	31.12.21
	Unrestricted funds
	General fund	4,170,058		(193,871)	3,976,187
	Restricted funds
	MSC South Africa Fund	14,893		(14,893)
	TOTAL FUNDS	4,184,951		(208,764)	3,976,187
	Net movement in funds, included	in the above are as follows:
		Incoming		Resources	Movement
		resources		expended	in funds
			6
	Unrestricted funds
	General fund	115,099		(308,970)	(193,871)
	Restricted funds
	MSC South Africa Fund		772	(15,665)	(14,893)
	TOTAL FUNDS	115,871		(324,635)	(208,764)

Comparatives for movement in funds
		Net
		movement	At
	At 1.1.20	in funds	31.12.20
Unrestricted funds
General fund	2,884,975	1,285,083	4,170,058
Restricted funds
MSC South Africa Fund	10,734	4,159	14,893
TOTAL FUNDS	2,895,709	1,289,242	4,184,951

Comparative net movement in funds,	included in the above are a	s follows:
	Incoming	Resources	Gains and	Movement
	resources	expended	losses	in funds
	8	8	8
Unrestricted funds
General fund	81,687	(95,422)	1,298,818	1,285,083
Restricted funds
MSC South Africa Fund	7,179	(3,020)		4,159
TOTAL FUNDS	88,866	(98,442)	1,298,818	1,289,242