ANNUAL REPORT 2020 FINAL 211031

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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONTINUED)12. UNRESTRICTED FUNDSTransfersBalance at and Balance at1 January Income Expenditure Investment 31 December2020 Gains/Losses 2020£ £ £ £ £General 5,898,188 2,663,295 (7,689,495) 5,722,508 6,594,496=========== =========== =========== =========== ===========13. RESTRICTED FUNDSTransfersBalance at and Balance at1 January Incoming Resources Investment 31 December2020 Resources Expended Gains/Losses 2020£ £ £ £ £Ecclesiastical Education 2,899,133 61,397 (372,030) 426,306 3,014,806Clergy Support Fund 1,157,295 332,392 (1,487,168) 506,368 508,887Ferrers Funds 643,235 18,923 (20,673) 136,130 777,615Mass Funds 1,850,997 1,252 (571) 85,000 1,936,678Parish Church Fund 52,622 - - 52,622Trust and Other Funds 3,067,479 124,558 (7,491) (118,161) 3,066,385Legion of Mary Fund 236,053 - - 236,053Education Fund 3,943,685 - (140,422) 3,803,263----------------------- --------------------- --------------------- --------------------- -----------------------13,850,499 538,522 (2,028,355) 1,035,643 13,396,309=========== ========== ========== ========== ===========TransfersBalance at and Balance at1 January Incoming Resources Investment 31 December2019 Resources Expended Gains/Losses 2019£ £ £ £ £56Ecclesiastical Education 3,607,458 143,562 (768,723) (153,530) 2,899,133Clergy Support Fund 737,330 645,198 (651,250) (50,125) 1,157,295Ferrers Funds 533,536 18,922 (11,370) - 643,235Mass Funds 1,844,704 86,242 (86,242) - 1,850,997Parish Church Fund 52,622 - - - 52,622Trust and Other Funds 3,272,570 (1,933) (9,412) (362,845) 3,067,479Legion of Mary Fund 233,716 - - - 236,053Education Fund 63,118 1,870,955 (1,870,955) - 3,943,685----------------------- --------------------- --------------------- --------------------- -----------------------10,345,054 2,762,946 (3,397,952) (566,500) 13,850,499=========== ========== ========== ========== ===========
ANNUALACCOUNTSNOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONTINUED)13. RESTRICTED FUNDS (Continued)Ecclesiastical EducationThis fund meets the costs of students at Seminaries training to be priests for the Archdiocese and ongoing training for Clergy.Clergy Support FundA legacy specifically restricted to helping clergy in need has been invested and the income is applied to the Clergy SupportFund. This income is insufficient to meet the needs of the Fund. As annual expenditure is invariablyconsiderably in excess of the income generated and is met from a specific parish assessment and allocations from UnrestrictedFunds, all the income and expenditure is shown in the Unrestricted Funds column of the Statement of Financial Activities.The Fund also received £261,460arising from the Clergy Support Fundraising Campaign and all of this was expended in theperiod in supporting the Archdiocese’s sick and retired priests.Ferrers FundThe Archdiocesan Charity Trustees took over the administration of the Vyvyan Macleod Ferrers Deceased Almshouses Trust(former registered Charity number 265719) under a Charity Commission Scheme dated 24 February 2011.Under the terms of the Scheme the property of the Fund is to be used for the public benefit:Mass Funds(a) To provide adapted accommodation for the beneficiaries: and/or(b) To make grants to the beneficiaries for goods and/or services;In carrying out these objects the Trustees shall take all reasonable steps to ensure that the beneficiaries have theirspiritual needs recognised and supportedIncome received on investments provided by donors is paid to priests who offer Masses for the intentions of the donors.Trust and Other FundsThe Archdiocese has a number of subsidiary and connected trust funds as well as some 22 other restricted funds, which havebeen received over many years from donors who have specified particular purposes for the funds.Education FundThis fund represents the net proceeds of sale from schools that have been closed. The funds will be allocated to the cost ofbuilding new schools.Legion of Mary FundThese funds are held on trust for the Legion of Mary’s purposes or, if the Legion shall cease to exist or to carry out any charitableworks in the area of the Archdiocese of Southwark, then for such similar charitable purposes to the Legion’s Purposes,as the Trustees of the Archdiocese of Southwark shall decide.57
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ANNUALREPORT
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ANNUALREPORTRoman CatholicArchdioce
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IMPACTREPORTAbout the Archdiocese o
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Page 9 and 10: IMPACTREPORTThe Archdiocese of Sout
Page 11 and 12: IMPACTREPORTClergy Reflections on 2
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Page 63: In loving memory21st October 1943 -
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ANNUAL REPORT 2020 FINAL 211031

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