Unaudited Reports and Financial Statements For the year ended 31 March 2022 St. Philomena's Carshalton Charitable Trust St Phllom•na's Catshalton ChorltabhTrust Short5 Road Carshalton SuFTey SM5 3PS Telephone020 8642 2025 Chaiily Numbèr 1052868 Charity Number.. 1052868 Company Number: 03077439 st. Philomena's Carshalton Charitable Trust Contents Pag¢ Charity inforn)ation Tru5tee5' report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statem¢nts st. Philomena's Carshalton Charitable Trust Charity information The Trustees present their annual report and the audited financial staleinents of St Philomena's Carshalton Chai'itable Trust {'the Trust,) for ihe year ended 31 March 2022. REFERENCE AND ADMINISTRATION INFORMATION Charity nam¢ St Philomena'5 Carshalton Charitable Trust Charity registration number Company registration Thumber 1052868 03077439 Trustees Dr. M. Howard Ms M. Noone Mrs J Kiilka Mi. P. Bradbuiy Secretary Mrs. J. Kulka Registered office St. Philomena's Catholic High School for Girls Shorts Road Carshalton Surrey SM5 3PS Banker8 National Westminster Bank plc 27 Woodcole Road Wallingto Sun'¢y SM6 OLN Lloyds Bank Faryners House 25 Monuincnt Street London EC3R 8BQ Independenee examiners UHY Hacker Young Thaines Hoiise Roman Squar¢ Sittingbourne Kent. MEIO 4BJ St. Philomena's Carshalton Charitable Trust Trustees, report For the year ended 31 March 2022 The Trustees present their Trustees. Report and annual report in a¢¢ordance with th¢ special provisions of Part I S to the Companies Act 2006 relating to small compani¢s, applicable UK accounting standards (incliiding Financial Reporting Standai'd 102), the Charities Act 2011 and Charity SORP (FRS 102). and the Articles and Memorandum of Association. Strutture, Governance and Management The governing iDstrumen¢ St. Philomena's Carshalton Charitable Trust is an incorporated Charity limited by guarant¢e. The directors of the company are the Trustees for the purposes of the Charities Act. Trustees are appointed and elected in accordance with the Memoi'andum and Articles of Association. Organi5ational structure The Triistees meet three times a year to review income and proposals for expenditure. A Trustee and thc Secretary deal with day-to-day correspondence and administration, and fees are paid for bookkeepiiig and accountancy. Trustees The Trustees holding office during the year and up to th¢ date of this report are.. Dr M. Howard. BDS Ms M. Noon¢ Bsc (Hons) MBA Mrs J. Kulka MBA (Opcn) Mr P. Bradbury Mrs P. Rcid (resigned 31 August 2021) Recruitment and appointment of trustees The initial Trustees were appointed by th¢ governing instrument, but all of the current Trustees, wer¢ appoiiit¢d by a resoliition of the Ti'ustees passed at & meeting of the Trustee5. Future Trustees m&y be appointed by a i'esolution of the Trustees passed at & meeting of the Twslees. Trnstee induction and training Each y¢ar the Trisstees 2iE kept infornied of developments in the charity sector. The collective expertise of the Trustees in tlie fields of education, law and trust adminislralion, will be siipplemented when it becomes necessary. St. Philomena's Carshalton Charitable Trust Trustees, report (continued) For the year ended 31 March 2022 Structure, Govern&n¢e and Management (continued) Statement of Trustees, responsibilities Law applicable lo Charities iii England and Wales requires the Trustees to prepaiE financial stateinenls for each financial year which give a true and fair view of the Trust's financial activities diii'ing the year and of it5 fii)ancial position at the end of the year. In p￿parIng the financial statements giving a true and fair view. the Trustees should follow best practice and.. select siiitable accounting policies and then apply them ¢onsisteiitlyy make judgements and estimates that are i'easonable and prLident' state whether applicable accounting standards have been followed. subject to any matei'ial departures disclosed and explained in the financial statements. and prepare the financial statements on the going con¢ern basis unless it 15 inappropriate to presume that the Trust will continue in operation. The Triistee5 are i'¢sponsible for keeping accounting i'ecords which disclose with I'easonable accuracy the financial posltion of the Trust and which enable them to ensure that the financial statements comply with the Charities Act. They arc also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and othci. irregulai'ities. They are required to apply the funds of the Triist with Complete fairness to meet the objects of the Trust. Investment policy Apai'l froin thc leasehold building let to the School for a peppercorn rent. the Trustees aim to tnaximise the inl¢r¢st earned on the Trust's cash resources. Risk management The Triistees have assessed the Inajor risks to which the Trust is exposed. in particular Ihose relating to the opei'ations and finances of the Trust, and al'e satisfied that systems are in plac¢ to mitigate their exposure to the majoi. risks. Objectives Th¢ object of the charity, per the articles is: The advancement of the Roman Catholic Religion and the advancement of educalion in the Roman Calholic tradition and in particiilar (but without pr¢judice to the generality of the foregoing) the provisions of edlicational facilitie5 in Schools. The Trustees currently direct their siipport in advancement of these objects towards St Philomena's Roman Catholic High S¢hool for Girls, ('the School,). A¢tivities Diiring the year th¢ TrLlSt has made varioLlS contributions towards the School's capital and revenue expenditure, amounting to £132,781 (2021: £81,737). St. Philomena's Carshalton Charitable Trust Trustees, report (continued) For the year ended 31 March 2022 Public benefit The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Cominission's gei)eral guidance on Piiblic Benefit. The Trust's opetations enhance the ediicational facilities ihat the School is able to offer its pupils. Achievements and performance During the year the Trust has continued to raise funds from parents of the pupils in the School. and earn interest ork the monies held on deposit. Financial review Results of the year The Trust's total income for th¢ year atnounted to £163,666 (2021: £163,137). This included voliintaiy income receivable of £163,639 (2021.. £163.084). Total expenditure amounted to £163,146 (2021.. £111,188). The resultant increase in funds was £520 (2021.. £51.949). Reserves policy The TrLlStees retain funds that will enable the Trust to assist with projects that the School is about to embark upon. All receipts are credited to an unrestricted incom¢ flind which is not subj¢ct to any restrictions regai'ding theii. use. The balance of thc free reserves (total reseives less the value associated with langiblc fixed assets on the Balance Sheet) al the year-eiid amount to £442,193 (2021.. £434,837). Grant making policy Grants are made after evaluation of the cotnparabl¢ benefits to the School. Plans for future periods The Trust will continue lo siipport the development of the School and will assist the funding of such projects as are being undertaken from time to tiine. This report has been pi'epared in accordance with Accoiinting and Reporting by Charities.. Statement of Recotnmended Pra¢tice (FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Appi'ov¢d by th¢ Trustees on and sign¢d on their behalf by.. Ms M. Noone Mrs ulka St. Philomena's Carshalton Charitable Trust Independent Examiner's Report for the year ended 31 March 2022 Independeni Examiner's Report to the Trustees of St. Philomena?s CArshalton Charitable Trllst (tbe 'comp#ny') I Irport to the charity Trustces on my examination of the accounts of the company foi. the yeai. ended 31 March 2022. This report is made solely to the company's Trustees. as a body, in accordance with Part 4 of th¢ Charities (A¢¢ounts and Reports) Regulations 2008. My woi'k lias bc¢n undertaken so that I might slate to the company's Trustees those mattel's K am reqiiii'¢d to state to them in an Independent examinei's report and foi. no othcr piityose. To the fullest extent pennitted by law, I do not a¢cept or a5siim¢ responsibility to anyone other than the company and the company's Trustees as a body, foi. my work or for this report. Resp0115ibilities and Basis of Report Ab the Trustees of the coinpany (and its directors for Ihe purposes of company law) you are responsible for th¢ preparation of the ac¢ounts in accordance with the requirements of the Companies Act 2006 ('th¢ 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent exatnination, I report in respect of my examination of the company's ac¢ounts carried out under section 145 of the Chai'ities Act 2011 ('the 2011 Act,). In Carrying out my examination I have followed the Directions given by the Charity Comjnission undei. section 145(5)(b) of the 201 l Act. Independent Examiner's Statement I have complcted my examination. I can confirm that no matters have com¢ to my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act. or the accoiints do not a¢¢ord with thos¢ recoi'ds; or the accounts do not comply with th¢ accoiinting requirements of section 396 of ihe 2006 Act other than any requirement tliat the accounts give a 'tt'iie and fair, view which is not a matter ¢onsidered as part of an independent examination. or Ihe a¢¢ounts have not been prepai'ed in accordan¢e with ihc m¢ihods and principles of the Statejnent of Recommended Practice for accounting and rcporting by charities [applicable lo ¢harities prcparing tlieir accounts in accordance with the Financial Reporting Stai)dai'd applicablc in the UK and Repiiblic of li'eland {FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention sl)ould be di'awn in this Itport in ordcr to enable a proper understanding of the accounts to be reach¢d. Signed: Date.. 9 December 2022 Allan Hickie Bsc FCA UHY Hacker Young Thaincs Hoiise, Roman Square Sittingbourne Kent. MEIO 4BJ St. Philomena's Carshalton Charitable Trust statement of financial activities For the year ended 31 March 2022 2022 Total Funds 2021 Total Funds Notes (All (All iini'esli'iGted) iirtresli'icted) Ineome from: Donations Building Fund Resources Funds 163,499 140 163.084 163,639 27 163,084 53 Investments Total income 163,666 163,137 Expenditure on: Charitable activities 163,146 111,188 Total expenditure 163,146 111,188 Net income 520 51,949 Total funds at l April 2021 626,261 574,312 Total funds at 31 March 2022 626,781 626,261 All in¢ome and expenditure derives from continuing activities. There are no recogiiised gains or losses othei. than those included above. The notes on pages 8 to I I forni part of these financial statements. St. Philomena's Carshalton Charitsble Trust Balance sheet as at 31 March 2022 2022 2021 Noles Fixed assets Tangible fixed assets 184,588 191,424 Current assets Debtors Cash at bank and in hand 83,932 368,107 108,281 336.402 452.039 444.683 Creditors- Amounts falling due within one year {9,846) {9,8461 Net eurrent assets 442,193 434.837 Total assets less eurrent liabllltles 626,781 626,261 The funds of the eharity Unrestricted income fund5 626,781 626.261 Total eharity funds 626,781 626.261 These finan¢ial statemen15 aTe prepared in ac¢ordance with th¢ spe¢ial provisions relating to STnall ¢ompanies within Part 15 of th¢ Companies Act 2006. The Trusl¢¢s consider that the company i5 entitled to exemplion frorn the requir¢ment to have an audit undeT th¢ provisions of geciion 477 of the Companie5 Act 2006 ("thc Act") and members hav¢ not required the ¢ompany to obiain an audit for the yeai. in qu¢stion in accordan¢¢ with section 476 of the Act. The Trustees acknowledge their responsibilitici for complyiiig with the requiiem¢nts of the Companies Act 2006 with rcspccl io accounliDg records and the preparation of financial statein¢Dts. Approved by the Board of Trustees on 8.1 i al.?...L . and signed on it5 behalf by 31, Date Dale Ms M. Noone- Trustee MrsJ The notes on page5 8 to I I form part of these financial stateJn¢nls. St. Philomena's Carshalton Charitable Trust Notes to the financial statements (continued) For the year ended 31 March 2022 Cbaritable status and taxation The company (herein I'efetyed io as 'the Trust,) is a registered charity, limit¢d by guaraiitee and does not have a Share capital. The company is in¢orporated within England and Wales. Aceoullting policies The financial statements are prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo Ch￿.1t)eS prcparing tlieir ac¢ounts in accordance with the Fii)ancial Repoiting Siandai'd applicable in the UK and Republic of Ii'eland {FRS 102), the Finanei81 Repoiting Standard applicable in the UK and RepLiblic of Ireland (FRS 102) the Chai'ities Act 201 I, and the Companies Act 2006. They are drawn lip on the historical accoiinting basis. The charity meets the definition of a public benefit entity under FRS 102. Income Donations are credited to income when received. Recoverable incotne tax is included with the donation to which it relates. Any income lax which has still to be recovcred at the period end is re¢ognised as a debtor. Interest is r¢¢ognised when receivable. Capitalisation of tangible fjxed assets and depreciation Purchases of tangible fixed assets ar¢ capitalised whei'e their useful life extends over more than one year. Depi'e¢iation is calclilated to write off the eost less estimated residual value of fi)Led assets on Strai￿)t-lLlle basis over their estimated useful liv¢s. The only tangible fixed assets carried on the Balance sheet relate to improvements to leasehold property. A lease was granted to the Trust in Februaiy 1998 by the Congregation of the Daughters of the Cross of Liege for classrooms on the first and second flooi's of the main school biiildiiigs, and this is du¢ to end in 2047. The costs capitalised as improvement to leasehold property are depi'e¢iated over their estimated usefiil lives. deemed to be the uiiexpired terjn of the leasc, ending in 2047. Expenditure Charitable expenditure comprises thosc costs inciirred by the eharity in the delivery of its activities. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Grants payable are recognised when th¢ grant has been awarded, and any conditions attached have been satisfied or fall outside the charity's Control. Govern&nce costs includ¢ those costs associated with meeting the constitutional and statiitory requirem¢nt5 of the charity and include audit fees and costs linked io the strat¢gic management of the ¢harity. All costs are allocated between the expenditure ¢ategories of the Statement of Financial Activities on basis designed to refle¢l the use of the re50Ulf¢. All expenditure is inclusive of irrecoverable V AT. St. Philomena's Carshalton Charitable Trust Notes to the financial statements (continued) For the year ended 31 March 2022 Fund accounting All funds are held as general unrestricted funds which are available for use at the discretion of the Ttuslees in furtherance of the general objectives of the Trust and which have not been designated for other purposes. These funds do includes the value of tangible fixed assets which have been purchased using Linresli'i¢t¢d flinds, and so the Trust's completely free reserves cotnprise total funds less the net book valiie of tangible fix¢d assets held on the Balance Sheet. Expenditure on eharitable activities 2022 2021 Gi'ants payable Support Costs Govei'nan¢e costs {not¢ 4) 132,781 9,914 20,451 81,737 10,248 19,203 163,146 111.188 All grants are payable to St. Philomena'5 Catholic High School for Girls. No on¢ is directly employed by the Trust. Governance Costs 2022 2021 Bookkeeping fee Ind¢pendent cxamination fee Accovnlancy and tax fees 16,451 2,000 2,000 15,203 2,000 2,000 20,451 19,203 Trllstees, transActlOllS No trustees received any remuneration or expenses from the Trust in the year or previous year. St. Philomena's Carshalton Charitable Trust Notes to the financial statements (continued) For the year ended 31 March 2022 Tangible fixed assets Short leasehold property improvements Cost As at l April 2021 and 31 March 2022 341,301 Accumulated depreciation As al l April 2021 Charge for the year 149,877 6.836 As at 31 March 2022 156,713 Net book values As at 31 March 2022 184,588 As at 31 March 2021 l91.424 Debtors 2022 2021 Tax reclaimable (Gift Aid) Shoit lenn loan to The School (repaid after the year-end) 23,452 60,480 23,281 8S,000 83,932 108,281 Creditors- Amounts falling due within one year 2022 2021 Amoun15 payabl¢ to ihe School A¢¢riials 6,000 3,846 6,000 3,846 9,846 9,846 Future commitments The Trustees liave authorised that all available funds may be gi'anted io the School if requir¢d. The Trust is likely to make contributions to the School towards: Ciirrent VASCA projects of £7,798.67 Fiilure V ASCA piojecls of £94,700 Chromebooks of appi'oximately £20.000 Salary costs of appi'oxiinately £17.767 10 St. Philomena's Carshalton Charitable Trust Notes to the financial ststements (continued) For the year ended 31 March 2022 io Related party transactions During the year costs lotalling £132,781 (2021: £81,737) were incutTed relating to either payments duc directly to St. Philomena's School, or lo settle liabilities on the School's behalf. These costs mostly relale to grants for building works and other agreed projects. Staff costs incurred by the School in I'elation to the Trust. disclosed as bookkeeping fee within govei'nance costs, amounted to £16,451 (2021.. £15,203). There was no salary paid to the k¢y tnanagement of the charity (2021.. £nil)- The Trust advanced £85,000 to the School in the year ended 31 March 2020. This was partially repaid diiring the year ended 31 March 2022 leaving a balanc¢ oiitstanding of £60,480 (2021:85.000) whi¢h has been repaid since thc year end. li Members, liability Each member of the charitable company undertakes to contribute to the ass¢ts of the company in the ¢vent of it being wound up while he/she is a m¢mber, or within one year &ft¢i' helshe ceases to be a metnber. siich atnounl as may be requiiEd, not exceeding £1 for the debts and liabilities contracted before hdshe ceases to be a member.