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2021-03-31-accounts

CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE

(A company limited by guarantee and not having a share capital)

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Company Number: 3407765 Charity Number: 1063645

This copy of the audited accounts replace the previously filed version and are now the statutory accounts for the year ended 31 March 2021.

These accounts are prepared as they were at the date of the original accounts.

CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE (A company limited by guarantee and not having a share capital)

YEAR ENDED 31 MARCH 2021

CONTENTS Page
Reference and administration information 1
Board of Management report 2 – 8
Independent Examiners’ Report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 - 17

CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE (A company limited by guarantee and not having a share capital)

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2021

CHARITY NUMBER: 1063645
COMPANY NUMBER: 3407765
REGISTERED OFFICE: 40 Bramwell Close
Sunbury-on-Thames
England
TW16 5PU
BOARD OF TRUSTEES: Antonia Beary (resigned 13 September 2021)
Antony Hudson
Michael Kennedy (resigned 13 September 2021)
Stephen Oliver (resigned 7 July 2021)
Sarah Conrad
Alexandra Neil
John Patterson
Hilary Blake (resigned 7 July 2021)
Nicholas Cuddihy (resigned 3 October 2020)
David Buxton
Matthew Burke (appointed 13 September 2021)
Christopher Cann (appointed 13 September 2021)
GENERAL SECRETARY: Maureen Glackin
AUDITORS: Moore Kingston Smith LLP
Devonshire House
60 Goswell Road
London EC1M 7AD
SOLICITORS: Stone King
13 Queen Street
Bath BA1 2HJ
BANKERS: Allied Irish Bank
Mayfair Branch
10 Berkeley Square
Mayfair, London W1J 6AA
HSBC
55 Corporation St
Coventry
West Midlands CV1 1GX
Hodge Bank
One Central Square
Cardiff CF10 1FS
Santander Business Banking
Bridle Road
Bootle
Merseyside L30 4GB

1

CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021

The Board of Management, who are also directors, present their annual report together with the financial statements for the year ended 31 March 2021.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Catholic Independent Schools’ Conference (CISC) was incorporated in 1997 as a company limited by guarantee (no. 3407765) and is also a registered charity (No. 1063645). The governing document of the charity is the Memorandum and Articles of Association, which can be found on the website at www.catholicindependentschools.com > About > Key Documents and Policies.

CISC is administered by a Board of Management, whose members are its directors and trustees for the purposes of Company and Charity law respectively. The names of the directors/trustees are shown on page 1.

The Board of Management is elected by the membership. Candidates must be full members (see: definition of full member on the website at www.catholicindependentschools.com > Membership > Membership Types). Board members serve for a period of six years. The Board of Management elects the Chair of the Board for a period of four years. Antony Hudson was elected Chair in January 2020.

In their committed work for CISC, the trustees have regard to the guidance issued by the Charity Commission on public benefit, in particular with reference to the documents above.

Dr Maureen Glackin was appointed to the post of General Secretary in October 2018.

RISK ASSESSMENT

The Risk Statement and Risk Register was presented to the committee (board of management) at a full meeting on 16 September, 2020. After a full discussion it was reviewed and approved.

OBJECTIVES AND ACTIVITIES

The Company’s (CISC’s) Objects, as described in the Memorandum and Articles of Association (1997) are:

“To promote education in schools which teach the Catholic faith principally by providing the head teachers or principals of those schools with the opportunity to meet, discuss, analyse and consider common concerns and to disseminate the outcome of such meetings.”

In an unprecedented year of challenge for all our schools due to the pandemic, CISC has focused on:

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CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021

ACHIEVEMENTS AND PERFORMANCE

At the AGM held March 18[th] 2021, members approved their new Strategic Plan for 2021-2025, which outlined the following strategic aims.

In line with previous reports, achievement and performance will be evaluated with reference to these strategic commitments. It is difficult to do this individually and therefore attention will be drawn to them thematically rather than systematically with reference to key elements of the preceding year.

Supporting communion and collaborations amongst Heads and key stakeholders and providing opportunities for sharing faith and prayer are integral aspects of CISC life, fostered through a range of events and activities.

CISC’s Conference 2021, ‘To Grow is to Change. In the Spirit of St John Henry Newman’ was held on March18-19, and was our first on-line conference. The Conference attracted 70 schools and 10 sponsors. Despite the unique circumstances, feedback revealed a very high level of satisfaction and whilst income was 50% down on what might usually be expected, proportionately income against expenditure was 7% higher at 75% compared with 68% the previous year.

‘Reach Outs!’ were a new development this year – informal on-line meetings for colleagues who share key roles across CISC schools. ‘Deputy Heads Reach Outs!’ and ‘Chaplains Reach outs!’ ran

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CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021

throughout the year and proved particularly useful in sharing planning and responses to COVID requirements as they were rolled out. Just as importantly, the meetings allowed for engagement and the sharing of ideas, resources and professional wisdom in a supportive and collegiate space. Planning is also underway for a CISC Music Hub, an online forum to support those who lead on the academic and liturgical provision of music on our schools.

Whole school support events also took place online with the Heads’ and Bursars’ Leadership Briefing by headline sponsors Moore Kingston Smith and Stone King in September 2020, attended by 60 delegates, and the Wellbeing Action Plan Seminar hosted by EduHealth in November 2020, attended by 30. The online platform is proving much more popular and accessible to colleagues, as well as being more cost-effective, and will be retained, for the most part, for these type of events moving forwards.

Of critical importance to CISC, is the formation of leaders and future leaders. As such CISC continues its collaboration with EducareM and the National School of Formation (NSF). All residential programmes were suspended this year due to the pandemic, however existing bookings have been transferred and CISC colleagues will be participating on the Christ the Teacher programme for heads and long-serving governors and the Barnabas and Magdalene programme for aspiring heads and recently appointed governors, in the forthcoming academic year (AY) 21-22. An online governance formation programme is also being piloted, in collaboration with EducareM, and will be made available to CSIC member schools in AY 21-22.

CISC membership benefits include membership of the Chartered College of Teaching and in partnership with Eduhealth, access for all members’ and their staff to a BUPA employee assistance telephone service as well as free eye test and product offers from Optical Express. Negotiations are underway to further enhance this with an offer from supporting sponsors, Powerful Allies which will be available to members when subscriptions are renewable in AY21-22.

All of these initiatives contribute to our aim to support colleagues in their desire to nurture all in our school communities to their full potential academically, physically and spiritually, enabling them to provide Christ-centred formation and education for their communities.

Challenging misconceptions and being an authentic voice for Catholic independent schools nationally and internationally is of key importance to all members.

CISC members and Committee Members remain active within associated professional bodies and sit on their committees, for example the GSA, HMC, ISI and Diocesan Inspectorates.

The General Secretary’s close collaboration with the Catholic Education Service on day-to-day operational school concerns and strategic policy development ensures that the distinct nature of CISC schools is recognised and considered in informing thinking. This is currently most evident in the ongoing collaboration on the development of the new national framework for canonical inspection and the Religious Education Curriculum Directory which has been led by our special schools as well as a sub-committee of the CISC committee. A number of CISC schools will be involved in the pilot of the inspection framework in AY 21-22.

In addition, Matthew Dell led a session for CISC chaplains on the forthcoming publication from the CES of the Directory on Prayer and Liturgy for Catholic Schools. Such engagements give CISC and its delegates the opportunity to articulate and celebrate our mission and vocation in Catholic education and our participation in the CES Formatio training for executive leaders, provides further opportunity for engagement across the sector.

Furthermore, in May 2020 CISC collaborated with Reed Brand Communications in publishing the report, Learning to Live and Love Like Jesus – CISC and the Common Good, an exploration of the collective and individual contributions that Catholic Independent Schools make in the call to serve the Common

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CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021

Good. It revealed a vibrant narrative in which the schools eloquently articulated and evidenced their passionate and authentic commitment to social justice within a lived experience of contemporary Catholic education. For example, the data generated revealed that partnership projects with the maintained sector are a core component of many CISC schools. 78% of schools work with their local counterparts across a range of initiatives, including: professional development, facilities sharing, co-curricular teaching, chaplaincy, charity work and outreach. The publication provides a strong narrative which shows how the faith of CISC schools is realised and shared through prayer, words and actions and a commitment to social justice.

This, and a commitment to Christ-centred education and formation will be further articulated in an extensive research project for rollout in the latter part of this academic year. Based on Prof. Gerald Grace’s work on ‘spiritual capital’, it will explore the extent to which ‘spiritual capital’ is impactful in Catholic independent schools, the nature of religious charism and potential challenges and opportunities for CISC schools moving forwards. Phases 1 and 2 will focus on interviews with Heads and pupils from schools with religious order trusteeships; phases 3 and 4 will mirror this in schools which are no longer in the trusteeship of a religious order,

On a more operational level but no less significant, the CISC website is undergoing development to more fully articulate our vision. After a tendering process, new headline sponsors Inner Media were selected to move its maintenance and development forward in a more cost-effective and collaborative partnership. A website rebuild and refresh is currently under way and will go live in the new AY.

THE FUTURE

The coming year will see a focus on:

The effects of the pandemic, in addition to the uncertainty caused by Brexit and the financial implications of the changes to the TPS, have occasioned a re-consideration and re-forecasting of the budget, priorities and finances for CISC and its schools. Underpinning all aspects of our work will be a rigorous consideration of its financial viability, cost-effectiveness, value and impact to CISC and its members with all activities and developments being evaluated in terms of their effectiveness against three criteria - mission, market and morality.

FINANCIAL REVIEW

The end of year balance for March 2021 saw a deficit of £38,763 compared to a deficit of £22,619 in 2020 down from a deficit of £48,109 in 2019. Whilst the increased deficit in year is disappointing, it can be attributed to the loss of income associated with Conference 2021 and a delay in sending out renewal of membership subscriptions which resulted in this income being credited post March 2021. Therefore it is hoped that further reduction of the deficit will be achieved in 2022, looking to move into marginal profitability in 2023. This is realistically achievable when one looks at the reduction in expenditure of £46,431 from March 2020-21 compared with the previous year. Notwithstanding the reduction in operational costs due to COVID, it is evident that the cost savings instigated by the General Secretary and approved by the Committee are taking effect.

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CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021

Movement to a new web provider and new insurers have contributed to this. However reserves have been called upon to maintain the running costs of CISC again this year which is not desirable or sustainable long term. The most significant outgoing is salary costs. Therefore, it is planned that the General Secretary will seek Committee approval to move from 1FTE to 0.8. Feasibility has been undertaken to ensure this can be achieved without detriment to the work of CISC and a formal proposal will be presented to Committee in May 2021 for approval with implementation from September 2021. If approved, the reduction in salary outgoings should move CISC into a more viable financial position within 12-18 months.

With membership fees and monies generated by Conference as the two main sources of income, CISC is vulnerable to the vagaries of the education market and the reality of life with and beyond the pandemic. Some member schools have, sadly, been unable to survive the current challenges and the last year has seen the closure of 8 schools with an additional school ceasing to operate as a Catholic school. As these tend to be smaller schools in terms of pupil numbers, the loss of income to CISC is not significant but it further highlights the overriding need to cut costs and generate a surplus.

In year, 2 international schools have become members of CISC: further developing such associate members as well as developing strategic relationships with business providers and other organisations will further reduce running costs and allow CISC to offer an even broader membership package of benefits to our members.

The remainder of the grant funding from Porticus and the Jesuit Institute is shown as Restricted Funds and is not set against income and expenditure, with the total carried forward as restricted funds of £14,323 at 31 March 2021. The grant funding was allocated for the development of CISC’s leadership programme and collaborations with maintained schools under the previous General Secretary. The funding will continue to be used to support these initiatives. Committee have approved an annual allocation of £4,000 through subsidies for participants to engage with the ‘Christ the Teacher’ and ‘Barnabas and Magdalene’ formation for leadership programmes which will now take place in the forthcoming AY 21-22. The design of the programmes includes and affords engagement and collaborations with maintained sector schools which will continue to satisfy the remit for which the funding was received.

In conclusion, the General Secretary and CISC Committee are not and cannot afford to be complacent about the current deficit but are confident that the solutions proposed will accelerate a move to sustainability and profitability. The ongoing drive to increase the service that CISC offers to members continues unabated and will ensure that CISC emerges stronger and even more fit for purpose in service of its members in the years to come.

The General Secretary expresses thanks and gratitude for the support and professional wisdom of Liz Brown and Katie Smith at Princethorpe, Paula Hawkins at Serendipity Ink, David Hatchard, Claudia Marks, Anjali Kothari and Neil Finlayson at Moore Kingston Smith, Antony Hudson CISC Chair and the CISC Committee.

REMUNERATION POLICY

The Charity has one paid employee, the General Secretary. Administrative support is provided by a freelance colleague for which the budget is agreed by the Trustees. The General Secretary’s salary is competitive and there is an annual appraisal and salary review, with the possibility of a salary increase subject to a successful completion of annual objectives. This incremental increase has been set aside since 2019 with the agreement of the General Secretary and the Chair in order to mitigate the financial risk to CISC. Its implementation will be reviewed by Committee in May 2022 as part of the review of the pilot of the General Secretary’s reduction in hours.

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CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021

RISK

Each year the risks to the Charity are kept under review. These include drop in membership (and therefore income), financial procedures, deviation from core activity, reputational damage to the organisation, ineffective governance, data loss, health and safety and safeguarding. These have been carefully considered and the likelihood and impact scored. The systems of the organisation for minimising risk are considered robust and the risk to the organisation is low. The Risk Register is reviewed annually and trustees are constantly mindful of the risks faced by the charity. The register can be viewed by members only in the Members’ Area of the website.

RESERVES POLICY

At the committee meetings on 16 May 2019 and 19 September 2019, the trustees agreed to close accounts holding reserves and move assets into operational accounts to support running costs. The trustees continually monitor the free reserves of the charity, which are defined as unrestricted funds less fixed assets and at March 2021 these totalled £45,563. The trustees consider that reserves of between six and twelve months’ expenditure are required to ensure that the charity is able to meet its long term charitable objectives. This falls just short of that requirement in what has been an exceptional year and can be attributed to the previously referenced delay in sending out renewal of membership subscription notices which resulted in this income being credited post March 2021. It is anticipated that reserves will recover to the required level next year.

STATEMENT OF BOARD OF MANAGEMENT RESPONSIBILITIES

The Board of Management (who are also directors of Catholic Independent Schools’ Conference for the purposes of company law) are responsible for preparing the Board of Management’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice.)

Company law require the Board of Management to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Board of Management are required to:

The Board of Management are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

7

CATHOLIC INDEpeNDENT SCHOOLS, CONFERENCE BOARD OF MANAGEMENT REPORT YEAR ENDED 31 MARCH 2021 In so far as the Board of Man898M￿t are awaT8'. there Is no relevant audit infom1811on of whlch thè charlty's audrtor is unaware; And the Board of Monagement have tsken all 81ep5 that they ought to have taken to make themselves aware of any relevant gudit inf(*m8Uon and lo esta￿lSh that the auditor is 8ware of that information. AUDrroRS Moore Klngston Smllh LLP.have been app￿nted Bs audlttt8 and indèpendent axamlners lo the company 8nd 8 re801utlon to revappolnl them ￿lIt• proposed al the AGM, SMALL COMPANY PROVISIONS Th18 report hos been prepared In accordance wlth the spaclal provlslons for small comp8nle8 under Part 1 S of the Companies Act 2006. On beh8M of the Board iolIEI?I AntonyJ W Hudson Chair of CISC Dal8

CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE INDEPENDENT EXAMINER’S REPORT YEAR ENDED 31 MARCH 2021

INDEPENDENT EXAMINER’S REPORT TO THE MEMBERS OF CATHOLIC INDEPENDENT SCHOOLS’ CONFERENCE

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 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 examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent Examiner's Statement

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:

  1. Accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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: or

  4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

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 accounts to be reached.

Date 10 December 2021

Neil Finlayson (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

Devonshire House 60 Goswell Road London EC1M 7AD

9

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Statement of Financial Activities (incorporating income and expenditure account) For the year ended 31 March 2021

**Note ** Unrestricted Restricted Total Total
Funds Funds 2021 2020
£ £ £ £
Income
Income from charitable activities
Grant income - - - -
Subscriptions 79,492 - 79,492 84,546
Sponsorship 9,360 - 9,360 16,700
Conference income 8,675 - 8,675 57,264
Programme for potential heads - - - 0
Bank interest 19 - 19 521
Study days - - - 1,105
Other income 1,230 - 1,230 1,215
Total Income 98,776 - 98,776 161,351
Expenditure
Charitable Activities 3 137,539 - 137,539 183,970
Total Expenditure 137,539 - 137,539 183,970
Other losses
Losses on disposal of tangible - - - -
fixed assets
Net movement on funds 12 (38,763) - (38,763) (22,619)
Total Funds Brought Forward 12 89,522 14,323 103,845 128,086
Total Funds Carried Forward 50,759 14,323 65,082 105,467

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 17 form an integral part of these accounts.

10

CATHOLIC INDEPENDENT SCHOOLS, CONFERENCE Balance Sheet For the year ended 31 March 2021 Not• 2021 2021 2020 2020 Fix•d Ass•ts Intangible assets Tangible assets 5.015 181 8.441 5.196 8,985 Current Assets D8btors Short18rm deposits Cash and cash equivalents 3.942 61,155 2,749 86.571 74,453 144,316 Cr•dltor•: Amount• falling du• wllhln one year 10 114,5671 147,8341 Nfrt Currnnt A•••t• 59.886 Tot•1 N•t ￿1•ts 65,082 105,467 Fund• Unreslrlcted fund8 Reslrlcled funds 12 50,759 14,323 91,144 14,323 65.082 105467 For tha flnanclal year in quesllon the company wa5 enliued lo eKgmplion under secdon 477 of thè Companies Act 2006 relalSng lo small companiès. No members have required the company to obtaln On audrt of Its 8ccounl8 for Ihe year in question In accordance with $8clion 476 01 the Companies Act 200e. The directors acknowledge th8ir r88ponsibllity for complying with th8 requirements ol Ihe Act with respect lo accounting records and preparation of accounts. These accounts have been prepared in accordance with the provlsions applicable lo compani88 8ublecl 10 small cornp¥nies' regime. 10 Approved by the Board of Trustees on ..........., and signed on Ihgir behalf by.. Antony JW Hudson Chair of CISC Company number.. 3407765 The notes on pages 12 to 17 fonn an integral pBrt of these accounts.

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Notes to the Accounts For the year ended 31 March 2021

1 Accounting Policies

Company information

Catholic Independent Schools' Conference is a charity limited by guarantee and incorporated in England and Wales. The registered office is 19 South Road, Hampton, England, TW12 3PE.

The following policies have been used consistently in the preparation of the charity's financial statements.

Basis of Preparation of the Financial Statements

These financial statements have been prepared under the historical cost convention and on the going concern basis which assumes the company will continue in operational existence for the foreseeable future.

The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP) and the Charities Act 2011.

These financial statements for the year ended 31 March 2021 are prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

Going concern

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern.

Revenue recognition

All income is recognised when there is entitlement to the funds, the receipt is probable and the amount can be measured reliably. Subscriptions are accounted for in the period which the membership relates to and is included in deferred income when the membership relates to the next period.

Expenditure

Expenditure is included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Expenditure is recognised once there is legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently at cost less depreciation and any impairment losses. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Office equipment and furniture

33.3% straight line

12

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Notes to the Accounts For the year ended 31 March 2021

1 Accounting Policies (continued)

Tangible fixed assets (continued)

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 SOFA.

Intangible fixed assets

Intangible fixed assets are initially measured at cost and subsequently at cost less amortisation and any impairment losses. Amortisation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Website development costs

20% straight line

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks ands other shortterm liquid investments with original maturities of three months or less.

Basic financial instruments

Basic financial instruments are measured at amortised cost. The charity has no other financial instruments or basic financial instruments measured at fair value.

Debtors and creditors

Debtors and creditors receivable or payable within one year of the reporting date are carried at their transaction price and subsequently measured at amortised cost less any impairment.

Taxation

The organisation is a registered charity and therefore is not liable for income tax or corporation tax on income derived from its charitable activities as it falls within various exemptions available.

Fund Accounting

Funds held by the charity are:

Unrestricted funds - These are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds - These are funds held where the donor has provided for the donation to be spent in furtherance of a specific charitable purpose.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

2 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the board is 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.

13

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Notes to the Accounts For the year ended 31 March 2021

2 Critical accounting estimates and judgements (continued)

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, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

There are no estimates and assumptions which have a significant risk.

3
Analysis of Expenditure
Staff Costs(see note 4)
Other Costs(see below)
Other costs are split as follows:
Conference accommodation & catering
Use of premises
Professional fees
Printing, postage, stationery and advertising
Travelling and subsistence
Computer and office equipment
Depreciation
Amortisation
Telephone
Insurance
Networking
Other costs
Recruitment costs
Restricted projects
4
Staff Costs
a. Wages and Salaries
Social Security Costs
The average number of employees for 2021 is 1 (2020: 1).
Those higher earning employees are:
In the band £80,000 - £89,999		 2021
Total
£
91,520
46,019
137,539
2021
£
4,454
-
9,409
105
165
25,792
(2,451)
3,940
123
1,953
2,070
459
-
-
46,019
2021
£
85,000
6,520
91,520
2021
1		 2020
Total
£
92,619
91,351
183,970
2020
£
39,277
-
9,619
262
6,496
24,798
587
3,940
122
2,377
3,105
769
-
-
91,351
2020
£
85,000
7,619
92,619
2020
1

The Trustees consider that the Company Secretary whose costs are detailed above, represents the key management of the charitable company.

14

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Notes to the Accounts For the year ended 31 March 2021

4 Staff Costs (continued)

b. Trustees' remuneration and reimbursed expenses

The trustees received no remuneration but 6 (2020: 6) trustees were reimbursed travel expenses totalling £0 during the year (2020: £1,615).

5
Net movement in funds is stated after charging
This is stated after charging:
Auditors' remuneration (net of VAT)
Amortisation charge
Depreciation charge
6
Intangible Fixed Assets
Cost
Balance at 1st April 2020
Additions
Disposals
Balance at 31st March 2021
Amortisation
Balance at 1st April 2020
Charge for the year
Disposals
Balance at 31st March 2021
Net Book Value
At 31st March 2021
At 31st March 2020		 2021
£
4,380
1,126
363		 2020
£
4,250
4,164
363
20,823
5,100
20,823
-
Website
5,100
12,382
1,126
13,423
-
85
5,015
8,441

15

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Notes to the Accounts For the year ended 31 March 2021

7 Tangible Fixed Assets

7 Tangible Fixed Assets
Cost
Balance at 1st April 2020
Additions
Disposals
Balance at 31st March 2021
Depreciation
Balance at 1st April 2020
Charge for the year
Disposals
Balance at 31st March 2021
Net Book Value
At 31st March 2021
At 31st March 2020
8 Financial instruments
Carrying amount of financial assets
Debt instruments measured at amortised cost:
Carrying amount of financial liabilities
Measured at amortised cost:
9 Debtors
Prepayments & accrued income
10 Creditors
Subscriptions in advance (see note 11)
Accruals and other creditors
Taxation and Social Security
11 Subscriptions in advance
At beginning of the year
Released during the year
Additions in the year
At end of the year		 2021
£
-
8,305
2021
£
3,942
3,942
2021
£
0
8,305
6,262
14,567
2021
£
37,662
(37,662)
-
-		 1,088
-
-
Office
Equipment
1,088
544
363
-
907
181
544
2020
£
-
7,030
2020
£
2,749
2,749
2020
£
37,662
7,030
3,142
47,834
2020
£
55,056
(55,056)
37,662
37,662

16

CATHOLIC INDEPENDENT SCHOOLS' CONFERENCE Notes to the Accounts For the year ended 31 March 2021

12
Reserves
Unrestricted funds
Porticus
Jesuits in Britain
Restricted reserves
Total reserves
Reserves
Unrestricted funds
Porticus
Jesuits in Britain
Restricted reserves
Total reserves		 £
89,522
9,660
4,663

14,323
103,845
£
113,763
9,660
4,663

14,323
128,086
Balance at 1
April 2020
Balance at 1
April 2019		 Income
£
98,776
-
-
-
98,776
Income
£
161,351
-
-
-
161,351		 Expenditure
£
(137,539)
-
-
-
(137,539)
Expenditure
£
(183,970)
-
-
-
(183,970)		 Other
losses
£
-
-
-
-
-
Other
losses
£
-
-
-
-
-		 50,759
Balance at 31
March 2021
9,660
4,663
14,323
65,082
91,144
Balance at 31
March 2020
9,660
4,663
14,323
105,467

Restricted funds

The Porticus funding is towards the CISC special schools projects and the CISC school partnership projects with the community.

Jesuits in Britain funding is towards the CISC leadership programme.

13 Company Status

The charity is a registered company limited by guarantee. The members liability is limited in the event of the company being wound up to a contribution of £1 towards the assets of the company. Members comprise the Board of Management.

14 Related Party Transactions

With the exception of trustees reimbursements disclosed in note 4b there were no other related party transactions during the current and preceding year.

17