CATHOLIC TRUST FOR ENGLAND AND WALES IRèilstered Charlty No: 10974821 Icompany Reglstratlon No: 047345921 TRU5TEES' REPORT AND CONSOLIOATED FINANCIAL STATEMENTS 31 December 20ZO
CONTENTS Reports Trustees. annual report 1-12 Reference and administrative Details 13-14 Statement of trustees, responsibilities 15 Independent auditorf5 report 16-18 Flnanclal statements Consolldated statement of Flnanclal Actlvltles 19 Balance Sheets 20 Consolldated cash flow statement 21 Statement of accountlng pollcles 22-24 Notes to the accounls 25-51
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees, who are director5 for the purpose of company law, present their report together with the con501idated flnancial 5tatement5 of ihe Catholi¢ Trust for England and Wales ICaTEWI hereafter"The Trust", for the year ended 31 December 2020. The report also incorporates a Strategic Report as required under the Companles Act 2006. Thi5 report and 3ccount5 hzve been prepared in accordance with the Charitles Act 2011, the Companie5 Act 21XJ6, the Memorandum and ArtCleS of A550ciatlon and Accounting and Reportin8 by Charities.. Statement of Retommended Practlce applicable to charities preparing their accounts In accordance with the Fin3ncial reporting Standard applicable In the UK and Republic of Ireland IFRS 102112nd edition, effe¢tlve l January 20191. OBJECTIVES AND AcfiviTIES HISTORY AND ORGANISATION The Trust promotes the Cathollc rellgion prlnclpally, but not exclusively, In England and Wales. The Trust has brought together predecessor charlties that existed to support the work ol the Catholic Church In these countrles. The Trust Is the Charitable and legal entity whlch holds In trust, the assets and property of the Catholic Blshops. Conference of En8land nd Wale5 ICBCEWI and raisès funds for the CBCEW. These rèsources are held by the Trust to enable the C8CEW Secretariat land those agencies and offlces managed by the Secretarlat whlch operate undèr the legal governance of the Trust) to procure those actlvltles and pro8rammès of work whlch the B15hops wlsh to commissi¢n or support colleglallv. The Trustees have had regard to the Charlty Commlsslon's 8uldance on publ1¢ beneflt. Through the work of the departments, agencles and projects set out bèlow, the Trust, in line wlth the Church'5 teachings, looks to ensure the moral and splrltual well belng of the Indlvldual, and to help discern the common good, beln6 what is best for all In society. As well as the promotion of Catholicism and the applicatlon of the Gospels teachln8S to the modern day world, the Trust Supports people to Ilve out their faith through guidance at a local level as well as advancement and dlrection of natlonal pollcy. The detalls of Indlvldual prolects which are of publ1¢ benellt can be ftsund below in this report. As well as worklng on behalf ol existin8 Catholi¢s, thè Church Is open to and welcomes non-cathollcs. The work of the Trust contributes to the sum of publlc knowledge and 8ood by publlshlng Stems whlch encourage Cathollc Ilfe and detallln8 the work of the Trust on its website and via Its medla service and resour¢es, all ol whlch are frèèly avallable. OBJECTIVES AND ACTIVITIES In order to fulfil Its charitable alms and objectives, the actSvltles of the Trust are determlned by the requlrements of the Bishops, Conference of EnBland and Wales. The Cathollc Blshop5' Conferen¢e ol England and Wales Is a permanent body wlthln the organlsatlon of the Catholi¢ Church that brlngs together the Bishops of England and Wale5. As a Conference the Bishops -lolntly exerclse certain pastoral fun¢tlons for the Chrlstlan faithful.. In order to promote the greater good which the Church offers to humanitvi especially through form5 and pro8rams of the apostolate fittingly adapted to the clrcumstance5 of time and place" (cf. Code of Cunon Low can 4471. The departments of CBCEW Implement the present broad areas of activity for the Bishops in 5UPPOrting the dioceses of England and Wale5 and witnesslng to the Gospel In the contemporary world.. Catholi¢ Education and Formation, Christian LSfe and Worship, Social Justice, Dialogue and Unlty, Evangelisatlon and Cateche5is and International Affairs. In addition to these dlscrete work streams, there are also two pan.departmental offices.. The Catholic Safeguardlng Advlsory Servlce ICSASI and the Catholic Communications Network ICCNI. The Trust employs staff to earry out the work of the Departments, which also rely heavily on the participation of volunteers who serve as committee mèmbers and adviser5.
CAThOLIC TRUST FOR ENGLAND AND WALES TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 GRANT MAKING POLICY The Trust Is not a grant making body but doe5 disburse money to entities via natlonal inltiatlves. This forms part of its mission throu8h positive en8a8ement wlth public bodies and other charitable trusts. STRATEGIC REPORT ACHIEVEMENTS AND PERFORMANCE Cathollc Educatlon and Format5on The CES continues to promote Cathollc education to influence natlonal debates. Regular meetin85 take place wlth Mlnisters, Shadow Mlnlsters. the Welsh Assembly. polltlcal advisers and party-politlcal thlnk.tanks to Intluence partv polltical policies on educatlon. The CES continue5 to promote Catholic educatlon through its reactivè and proactive media strategy. CES works wlth the Internatlonal bodies CEEC, QIEC and JCCE to monitor development5 Ilkely to aflect Catholic educatlon across Europe and more wldely, and take$ an active p•rt In the Cathedrals Group ol Church universltles and Linlversitv colleges. Formatio leads the national strate8y for Governance and Leadership In Edutatlon. Cathollc Unlversltles are actively Involved in it5 development, both at n3tlonal level and within thelr re8ional hub5, and a working group representatlve of the four Cathollc Unlversltles In En8land co-ordlnate their a¢tlvities and work wlth the CES. The CES has continued with broader communlcatlons strategy on behalf of Formt7tlo under three maln areas.. communitating the messa8e, sustalnablllty Ilncludln8 fundlngl, and subsldlarlty. The Natlonal Steerln8 Group Is sharing the Inltiatlves that are beln6 taken by the Regional Hubs for wider dlssemination. Durlng 2020, the CES worked to ¢larlfy the changlng requSrements and expectatlons placed on dloce5e5 and schools in relatlon to a range of legal and educational duties and moral responslbllltle5 durln8 the pandemlc. The burden is 8reater for many Catholi¢ schools because of the larger proportlon of vulnerable ¢hildren. School closures also resulted In a rise In demand from teachers seekln6 Continuing Professlonal Development and trainlng. The CES offered a number of onllne tralnSn8 packages Includlng on-llne tralnin8 for Cathollc RSE funded by the DfE, and its own on-llne Governor Tralning. The CES submltted written evldence In September 2020 on the Welsh Curriculum & Assessment 8111 and was called to provlde oral evldence to the CYPE Commlttee in O¢tober. The CE5 contlnued to liaise with and brief Members of the Senedd Imssl as well as contlnuing representations to officia15 on this draft 8111 throu8hout the year. Work contlnued on the establlshment of a National Framework for Inspectlon of Catholic Schools, Academles and Colleges. Grade descriptors for the new Natlonal Framework were completed, along wlth the planning for the technlcal document5 that are necessary to bring about a national approach to Inspertion. In addltlon, CES established a small working party to look at the necessa¥y trainin8 resources needed in advance of a launch of the recruitment and trainin8 of new inspectors in 2021.
CATHOLIC TRUST FOR ENGLAND ANO WALES TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Chr15tlan Llfe and Worshlp At a Department level, work continues on the review of liturBical translations prepared lor the Bishops. Conference by ICEL, and on a new translatlon of the Lectionary. The natlonal Patrlmony Commltteè, chalred by Archblshop George Stack. draws on the expertise of renowned speclalists who promote the conservation of Catholic Art and Architecture. This commlttee sourced, and distributed. a 51gniflcant block grant from Historic England In 2020. Securin8 a £3m allocation from Historic England's Grants for Programmes of Major Works for Glade l or Grade Il. Ilsted bulldings has resulted in 28 cathedrals and churches, listed Grade l or Il* receiving grant5 for important repair work. This Is the first tlme that CaTEW has been awarded a grant of public funds for the repalr of hlstoric churches. It demonstrates a lével of confidence by Hlstorlc England and the government in our ability to deliver this programme effeIVelY. In thls tlme of pandemlc, the Llturgy Oftlce provided a number of resources to support the Catholic communlty Including general prayers for sl¢kness, a leaflet for when people cannot 8et to Mass and also a leaflet lor when people are unable to attend funerals- so they can pray at home at the same tlme. Materlal wa5 a150 provided for Holy Week and the Paschal Trlduum includin8 resources for families. rhe Spirltuallty Commlttee provlded resources so that people can use tlrne spent in lockdown Ilke a retreat, Including materials for Holy Week, the Trlduum and Easter Week. They also prepared addltional resources to assist those berèaved and set up a Facebook group, Christ.Covld.Community whlch brought over 500 members together to offer prayer and 5UPPOrt. Soclal Justlce The Department for Soc131 Justlce covers areas of so¢lal and pastoral pollcy In En8land and Wales. It operates uslng an outcome-locused vision, wlth the prlority areas of work beln8.'111 Ilfe Issues,121 marrla8e and famlly life,131 mental health,141 healthcare,151 crimlnal justice,161 the Faith In Politlcs internship,171 the envSronment,181 domestlc abuse,191 soclal affalrs, and1101 gender issues. CSAN remains the ¢ore agency of the Department. The Annual Day for Life in 2020 totsk as Its theme the protectlon of the unborn chlld wlth a particular focus on the pastoral care of pregnant women, and how Catholic parishes Can be Communlties of welcome and acceptance, a5 well as hope and healing after abortlon forthose women, men and farnllle5 who have experlenced this. This is a joint Initiative bètween the En8llsh and Welsh, Scott15h and Irlsh Blshops. Conferences. Morrloge ond Fomlly Llfe The Marriage and Famlly Llfe ofllce works to support and resource parish communities meeting, welcoming and walkin8 wSth familles on thè journey of faith. Progress over the last year has Involved work across various initiatives, Including resources and 1Snks to support familles In praylng at home during the pandemlc. Some were especially for Sundays and celebrating the Iltur8ical season, and other5 encouraged prayer durln8 the day, Includlng a simple settlng of sun8 Compllne with pre-school and school-aged chlldren. Heolth¢ore The Healthcare Executive Group for thè Department helped to provide expert guldance for the Cathollc Church durlng the coronavirus pandemlc, and statement5 and resources regardin8 healthcare and mental wellbeing durlng the coronavlrus pandemlc were Sssued.
CATHOLICTRUST FOR ENGLANOAND WALES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 Soclal Justlce Icontlnuedl Criminoljustlce The role of the National Cathollc Chaplain for Prisons INCCPI is to represent the Bishops of England and Wales in matters concernlng Prisons and Prisoners. The work includes the recrultment, appointment, pastoral care and ongoing trainin8 of some 250 Cathollc Chaplains and VoluntÈer5 in 122 establishments. Involvement in CBCEW policy and statements regarding prlsons, workin8 Wlth other denominations and faiths and actlng as the Cathollc Faith Advisor to NOMS and HMPPS are 315¢ Inte8ral parts of the role. The pastoral care of the Chaplalns tontlnued during 2020 usin8 emai15, telephtsne and Zoomneams meetings. Each week during the pandemlc prayer and study materSals have been provlded by the NCCP to every Chaplain so that they In turn can furnlsh the RC prlsoners wlth In-¢ell resource5. Two catechism courses were sent out with a weekly study materlal and worksheet5. EnvironmentalAdvlsory Group The Group's purpose is to gaihtr Informatlon and provlde a practical re5pon5e to Luudoto 51 whlch can be ad¢pied by dloceses. parlshes and schools, as well as familles and Indlviduals. The project webslte wlth all supportlng material provlde5 a model approach fol dioceses. The projed alms to brlng tO8ether Catholic a8encies to collaborate in urgencv, but also In a joyful manner that rebuilds churth communities through dis¢iple$hip. Folth in Polltlcs The Falth in Polltlcs internship scheme provides Cathtsllc 8raduate5 Wlth an educatlonal year ol politi¢al and publlc affairs experlence shaped by faith and spiritvallty. The 2019-20 group of slx interns completed a successful year of the Internshlp In July 2020. They galned a Postgraduate Certlflcate In Cathollc Soclal Teachlng at St Mary's Unlverslty. Twlckenham. There wlll be no Intake of Interns lor 2020-21 due to the coronavirus pandemic. This enabled the Department an opportunlty to revlew the scheme and make chan8es to ensure the scheme can contlnue to thrive in future years. When the Internshlp resumes, they wlll no longer undertake the Postgraduate Certillcate, but wlll take part In a bespoke CST formatlon programme organlsed through the 8lshops' Conference and more tallored to thelr needs. DlaloBue and Unlty In 2020 the Department contlnued to support the work bein8 done by dlocesan and county ecumenical and Inter-rellglous eo-ordlnators by offering advice and resources. It assisted and resourced the existing five ecumenlcal bllateral dlalo8ues Iwith the AnglScans, Methodlsis, Unlted Reformed Churth, the Byzantlne Orthodox and ihè Oriental Orthodox Church) and the Worklng Group for the Courtyard of the Gentlles Inltlative Ito promote dialogue wlth culture and e5pecl8lly wlth non-belleversl. The department a150 oversees the important area of Catholic-lewish relations. Most of these dialogues have continued durin8 the pandemlc usln8 onllne confèrentlng facilitiès. The Department worked wlth the natlonal ecumenital instruments Ichurches Together in England, CUN - Wales, and Churches Together in 8rltain and Ireland) by asslstlng wlth the annual tralning of new diocesan and county ecurnenical officer5, workin8 collaboratively with the denominational National Ecumenical Olficers and being actively involved with meetings of the CTE Enabling Group and Forum and Churches Together in Britain and Ireland ICTBII. The Department Secretary also represented the Bishops, Conference at ecumenlcal meetings and events held durSng the year. The main impact of the Department's work continues to be the buildin8 and development of relationship5 and trust throu8h ecumenical and inter-reliBiOUS dlalogue. Thls networklng promotes greater knowledge, understanding and respect for people of other traditSons and of other faiths lor no-faithl.
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THEYEAR ENDED31 DECEMBER 2020 Evan8eli5ation •nd Cate¢he51s The Department of Evangelisation and Dlsclpleship exist5 to support the work done by national coordlnators of youth mlnistry and adult formatlon. The maln prioritles of ihe department are catechesis, mission to the non-reli8ious, scripture and youth ministry. The Home Mi5sitsn Office formed part of the Department and worked in collaboratlon with local and natlonal groups in the fields of evan8elisatlon and catechesi5 to 5UPPOrt, insplre, and equip Catholics to share the joy of livin8 thelr falth wlth others. Thls was offered throu8h regular regional meetlngs that provide an opportunlty for those working in Evan8elisation at a diocesan level to network, receive training and d15cover resources to help the work In thelr dloce5es. The Home Mlssion Ofllce also responds t¢ enqulrles about the Catholic faith wlth the alm of connecting enqulrers to thelr local Catholic communlty for ongoin8 p35tDral care, The chan8e In tir¢umstances due to the pandemlc provlded the department wlth an opportunlty to develop greater online engagement. Several online retreats and prayerful experience5, by a variety of sources, were offèred onlSne to reach out to people these unlque times. After a revlew of the content, the best wlll be shored on the webslte, eNewsletter and soclal medla platforms. Notlonul Officefor Vocotion (NOV) An important part ol the Department for Evan8ellsation and Catechesls, NOV works in collaboration wlth local and national a8encies to support the promotlon of 'vocatlon' withln thè Cathollc communlty, Thls Includes the calling to marrlèd Ilfe, to single Ilfe, to the diaconate as well as priesthood and consetrated Ilfe. Tralnlng courses on the promotlon ol vocatlons In parlshes are or8anlsed and run by NOV, and support 15 8iven through the website, whlch contalns Inslructlonal resources and practlcal support. Thls opportunSty to host a course Is open to any Catholic parlsh In England & Wales. Courses for priests, rellgious and lay people In vocatlonal guidance are a150 avallable, 50 that people of all ages may access personali5ed, faith.based support all over the country free of charge. NOV staff are always avollable to give advice in matters regardlng vocations promotion. Internatlonal Affalrs The Department lor Intematlonal Affalrs 1$ engaged In workln8 on a wlde range of Issues in support of the Bishops, Conference work. The partlcular focus of the International Affairs Department Is to a¢t In solidarlty and support of Local Churche5 and to 8ive an expres5i0n to the Blshops, Conference's wltness on the dignlty of the person, especlally In relatlon to human rl8hts. The Department continues to develop its programme on combating human trafficklng and modern slavery through the Santa Marta Group. Thls brln85 tO8ether a eoalltlon of leader5 01 international law enlofcement agencles with bishops to develop partnerships that focus on strategies to prevent traffickin8, t¢ a5515t and promote pastoral care for those enslaved and help wlth the relntegratlon of vlctims. The Santa Marta Group help5 to sustain Innovative projects In Ni8eria, which are aimed at creating integrated awareness raising and alternatlve empltsyment projects in Edo State, an area from whlch a considerable number ol Nigerians are trafficked into to the UK. The Sesson5 Irom those projects, especially on agrlcultural development, encoura8e slmilar prolects wlth Santa Marta partners elsewhere in the Contlnent. The publication of the Papal encyclical, Frotelll futtl. Sn 2020 will be another major factor in shaping the department's work going forward, because of its prominent focus on so many of the areas in whlch we are currently engaged including international migration, human rlghts, raclal Justice and peacebuildin8. Department Bishops will continue to reflect upon It In a structured way as part of its Global Common Good project, being done In conjunction with academic and other partners.
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 International Affair5 Icontinuedl The Department contlnues to wlth the Mlddle East Council of Churches IMECCI, assistlng in Its development of a policv framework covering major challenges facing the reglon and the role of local churches in responding to them. ThSs work seeks to reflert the genuine voice of Christlans in the Mlddle East and to focus on promotin8 inclusive cltizen5hip and respect for human rights. Other areas that the Department has en8a8ed with include its continuin8 advocacy on promoting fundamental human rl8ht5 and especially freedom of rellglon and belief, as well as a focu5 on those seeklng asylum In the UK, partlcularly in supportlng those In indefinlte detentlon. The Church's Taclal lustlce mlssSon has been glven new Impetus by the dSsproportlonate Impact of Covld-19 on certain ethnlc communltles. The department also reflected on the antl-raclsm protests globally, and In li8lit ol these developments several bishops carrled out Ilstening exerclses such as Being Black ond Catholi¢ In the Dlocese of Westmlnster or taken steps to address inequalities in their own dltsceses such as the No Plocefor Racism me55age from the 8ishops ol Southwark. The department convened a reflection 8roup to hear from Catho15cs of different ethnlc backgrounds about thelr experiences, share examples of good practlce and to look at pra¢ti¢al pastoral chan8e5 to promote racial justice In dlfferent areas of the Church's Ilfe. It ¢onllnues to fund a natlonal coordlnatc*r to support parlshes welcoming refu8ees through HM Government's communitv 5ponsorshlp proaramme and lialses closely wlth Cathollc charltSe5 fQ5ponslblo for supportlng asylum 5eekcrJ includlng th05c cfoJ•ln8 the En8llth Channel. C•thollc $4feiuardln8 Ad¥lsory Servlce {CSASI Whereas the Natlonal Cathollc Safeguardlng Commlsslon INCSCI 15 respon51ble for settln8 the strateglc dlrection of the Church'5 safe8uardln6 pollcy, the Catholic Safe8uardln8 Advlsory Servlce ICSASI Is responsible for driving and supportin8 Improvements In practlce. The prlmary role of CSAS is one of to-ordlnatlon, advlce and support to the Catholic Church in England and Wales in respett Of safeguardlng chlldreni young people and, where necessary, adults. The responslbllltles of CSAS Include.. Provlslon of advlce to the Church about 5afeguardSn8155ues,' Overseeln8 and co-ordlnatlng safeguardlng tralning wlthln the Chur¢h; Po1i¢y development and review.. Coordlnation of investS8ations and reviews,. and Beln8 the polnt of Ilalson wlth other national stakeholders concerned wlth safeguarding. CSAS is also the Rt8lStered Body with the Disclosure and Barrlng Servlce for the processlng of DBS D15cIosures wlthln the Catholic Church In England and Wales. Durln8 2020, the maln locu5 of CSAS ha5 been on the followlng= CSAS provldes support and advlce to a wlde range of member5 of the Catholic Chvrch. This include5.' Religious Congregatlons and Orders, diocesan olfSces, Cathollc organlsations. and members of the public, other falth or8anisations and professlonals. Advlce might relate to speciflc cases, safer recrurtment and OBS processlng, the application of policy and procedure or general saleguarding matters. The Pufpose of providing advice 15 to ensure that everybody working in the name ol the Catholic Church in Engl4nd and Wales can do so in accordance with national safeguarding policy and procedure, which Is compllant wlth legislatlon, statutory guidance and recognlsed best practice. CSAS continued its work with the National Catholic Safeguarding Commlssion and the Church of England to develop an ecumenical Christian service, Safe Spaces, to support survivors and victirns of abuse. The service launched in 2020 to enable victlms and survivors to either access support vla thelr parishes and dioceses, or without making contact directlv with the church.
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 C•tholl¢ 5¥feguardln8 Advlsory Servkt ICSASI lcontlnuedl CSAS continues to promote the saleguardlng E.learning pack that was launched by the Catholic Church in England and Wales in july 2015 and made available to every member of the Cathollc community and to small tharltable or8anlsations free of charge. The provision of tralnlng supports the application of 8ood safeguarding practice within parishes ènd religious congregatlons. The Servlce contlnues its work to process DBS checks to ensure that the Churth Is compllant wlth leBlslation and are undertaklng checks at the appropriate level foi dllferent roles within the Church. Providing a registered body In-house ftsrthe church supports a con51stent'one-church' approach to safeguardlng. The Ebulk system was rolled out to dlo¢eses across En8land and Wales in 2019 to stieamline this process. CSAS contlnued to provlde support and Information to the Independent Inqulry Into Child Sexual Abuse and to the Cathollc Councll for the Independent Inquiry, which was jointly created by the Cathollc Bishops, Conference of England and Wales and the Conference ol Reli8lOUS, to oversee the Churth's engagement wlth the Inquiry and the response beln8 made acr05S the Church. CSAS continued to en8a8e with safe8uardinB ¢oordlnators and commlsslon chairs to ralse awa¥eness of relevant Issues arlslng from the evldence bein8 8lven to the IICSA. DLiiln8 2020. CSAS provlded support and infofmatlon to Mr lan Elliott to iindertakp a cnmDrphpnslvp indpppnrfpnt rpvlpw tsl sale8uarding In the Catholic Church in England and Wales. The Independent Inqulry Into Chlld Sexual Abuse publlshed Its flnal report Into the Roman Cathollc Church In November 2020. The 81shop5 of England and Wales Issued a Pre5$ Statemènt unèqulvotally apologlslng for all cases of sexual abuse whlch have occurred In the Church. The IICSA made re¢ommeDdatlons to the Blshops for the development of safeguardln8 In the Catholic Church In England and Wales, and these were accepted fully by the Blshops in their November Plenary Assembly 2020. These recommendations, along wlth the re¢ommendatlons made by the Elllolt Aevlew Iwhlch were also accepted In thelr entlretyl were the focu5 of thls restructuiSng work In the latter part 012020. On S, February 2021, the Cathollc Saleguardlng Standard5 A8ency ICSSAI, a company Ilmlted by guarantee and subsldlary of the Trust. came Into operatlon. The staff of the former CSAS were TUPEd into this new entlty on I" Aprll 2021 and a new Board of Dlrectors were appolnted followlng a publlc recTultment process for safeguardSn8 and other relevantly experlenced personnel. The work of C55A contlnues and evolves so that the full implementatlon of the Elllott recommendations will be fulfilled. The m05t $18nifi¢ant change from the previo¢Js safeguarding governance and operatlonal work Ithrough the NCSC and CSASI is the change ol operation from CSAS being an advlsory body, to the CSSA havSng a full re8ulalory and audlt operatlon amon8St the subscribing entitles of the CatholiE Church in England and Wales. A future development, linked to but dlstlnct from thi5 organisatlon, will be the creation ol a National Tribunal Servlce to asslst the 815hops In their governance of the work of safe8uardin8. CaTEW made available funds to drlve thls implemeniation process to impfove the safe8uarding mlnlstry of the Church and wlll continue io support the work of tht CSSA. Cathollc Communl¢atlons Network ICCNI The Comrnunlcatlons Offlce of the Catholic Blshops, Conference plays a key role In promoting Cathollcism and the appllcation of Gospel teaching to the modern world. The role of the team is to help the Church communicate in good times and in bad. In addition t9 5upportin8 the Bishop5 and depèrtments of the Bishops, Conference in helping to forrnulate ways to communlcate thelr wltness, there are a number of area5 of ongoing work. ThSs work Is both internal and outwards fa¢ln8 through daily medba ¢onta¢ts, brlefings and relationshlp buSlding. Social Media continues to play a major part in the bishops, communication5' Strategy. Through Twitter. Facebook and other appropriate social media platforrns, the communications, office alms to engage Catholics and all those interested in the work and wltness of the Church in this country. In addition, CCN provides a free photo sharlng site which hlghlights the Church's work and witness in England and Wales, Europe and across the woTld. These photos are downloaded, shareil and published by over 41 million people worldwide.
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THEYEAR ENDED 31 DECEMBER 2020 Cathollc In5uran<e SeN5ce Llmlted Followin8 a review of the insurance business of CBCEW, Catholic Insurance Service Limited became a subsidiary of the Cathollc Trust for England and Wales on 14 December 2016. This company, which is registered with the FCA, acts as a broker for a sulte of Insurance pollcles tallored to the needs of the Catholic Church. Walslngham Trust As of I january 2019 the a55ets and operations of the Walslngham Trust (Reglstered ChaTlty number 2657551 were transferred to a new charity and company lirnited by guarantee ol the same name, of whlch the Catholic Trust for England and Wales is the sole member. The trust exlsts to support the spiritual work of the Natlonal Cathollc Shrlne of Our Lady at Walslngham. Thls Internatlonally renowned Marlan Shrine welcomes over 500,000 pilgrims each year, both a5 Indlvldua15 and organlsed groups. The trust provldes hospltality vla Its accommodatlon and other pllgrlm sefvlce5. Fundralslni actlvStSes The Trust's fundraislng Snltlatlve has ¢ontlnued Its work throughout 2020, although at a reduced level due to the pjndemlc, and during th13 year ralsed £68k agaln5t a target ¢1 £IOQk. The Trust does not raiJC fund from the general publlc. The Trust does not en8a8e with any dlrect marketing activities or professional lundraisers. Mana8ement perlodlcally agree a fundralslng strategy and monltor performance aBalnst thls StTate8y. No ¢omplalnts have been received the year In Telatlon to fundrai51ng. FINANCIAL REVIEW In¢ome and Expendllure In 2020 the Income of the Trust from all sources was £13,377,67412019'. £9,712.0821. The maln sources of Income are assessments on the Dlocesesof England and Wales mandated by the BSshops, and par15h collections agreed bythe Bishops Qr the purposes of the Blshops, Conferen¢e and asso¢lated ogencles and offlces. Authorlsed parSsh Collèctlons recelved by CaTEW are taken on Home Misslon Sunday Ito Support Evan8ellsatlon workl, World Communlcatlons Day Ito support CCNI, the Day for Llfe (to support the Anstombe Bloethlcs Centre and the pro-lile activities of the Conference). and Racial justicè Sunday (to support the Chur¢h's work with mlgrants and refugees, and to provlde fundin8 to the Catholic Agency for Raclal Justlcel. Other income 15 derived from investments, grants and property. Total expenditure for the year was £11,944,83012019'. E9,978,8701. The expenditure of the Trust Is analysed In detail In the accounts attached to thls report. The results for the year are Shown on pa8e 19. A detailed analysis ol the results Is provided in the note5 to the accounts. The net movement In fund5 for the year was a surplus 01 £2,665,59712019'. surplus of £6,412,299). The surplus for the year is mainly attributable to Bains on the investment portfolios of £1.232.753 due to conditions prevalllng at the balance sheet date. The balance sheet shows total reserves of £51,636,776. Restrlcted funds of £5,315,937 represent unexpended balances held on trust to be applied for specific purposes. A further £40.920.494 has been set aside as designated funds as itls either represented by fixed assets or designated for a specific future use and sg not available for the general purp05e5. Designated funds within CaTEW include £6,862,293 which represents the net book value of the charity's tanglble fixed a$5ets, £1,160,416 whlch represents the value of the programme related inve5tment5, £28,813,908 which represents sales proceeds from the sale of investment property along wlth gains and losses on these funds, which have been Invested in order to generate income in order to 5UStain the core work and activities of the Charity, and £383,674 which represents
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 FINANCIAL REVIEW lcontlnuedl Income and Expendlture Icontlnuedl fund5 set aside lor new Inltlatlves and expanslon of the Catholic Education Service. The reserves include amounts attributable to the actlvlties of the Trusvs tiadlng subsldSary companies.. £2,753,29312019.. E2.668,8411 is attrlbutable to the Trust, with £693,083 12019.. £660,316) being attributable to the minority interest of Catholic Insurance Service Llmlted. The remainin8 funds amountln8 to £1,953,969 are the general funds or'free, reserves a5 defined by the Charity Commlsslon12019- £3,702,449), Investment pollry The trustees have adopted a 8eneral statement of an ethltal Investment pollcy.. The Catholic Church'5 understandlng of Ethlcal Investment takes account of a seiles of "soclal encycllca15" whlch followed from Pope Leo Xlll's encyclical letter Rerum Novurum 011891. That document set out to malntain in conternporary Industrlal so¢lety the prlorlty of the human over the economlc, and the 5pirltual and moral over the materlal. Ir the management of investments both Charlty Law and Church teachlng apply. Under Charlty Law, the trustees must seek to obtaln the best flnanelal return possible c¢nslstent wlth commer¢lal prudence. Followln8 the Church's tea¢hlng, the trustees also seek to malntain an ethScal investment pollcy through a proce5$ Ctf maklng value lud8ements about the products, services and corporate practlces as well as thelr Ilnancial efli¢acy. Their judgements and decislons to invest or d151nvest, and of seeklng to change through shareholder actlon, reflect partScularly that teathlng whlch promotes the dl8nity ind 5anctlty of human life and the importance of society In 8eneral. This has been communicated to the Investment managers of the Trust and, through re8ular meetln8S Wlth ihem and perlodlc assessment by the Investment Sub.Commlttee. Its Implementation Is kept under review. The trustees appreclate the Importance of chooslng a 5ultable lon8-term Investment strateBV and benchmark. The trustee5' ¢urrent Investment strategy emphaslses income generatlon In conlunction with capltal growth. wlth the aim belng to produce an income yield of 3% after fees and expen5e5. Accordingly, the investment managers are In5tru¢ted to report agaSnst appropriate benchmarks. The Trust's Investment assets are spread between four portfo1105 held wlth Charles Stanley, Ruffer LLP, Klllik & Co, and Smlth & William50n. In ag8regate, the portfollos achleved an average Income yleld of 1.7% In 2020 lexcludlng galns on foreign currency forward contracts) due to previous slgnlflcant capital appreciation In the portfolio value, and the impact of the ¢oronavlrus pandemlc on dividend5. Reserv85 Pollcy The Tru5Y5 operational policy 15 to try to ensure that it ha5 adequate free reserves to meet Its contlnulng charitable obllgations and day-to-day wgrkin8 capital requiiements. The Trust is reliant upon Dlocesan assessments for a significant proportlon of its income, which are agreed annualty by the Bishops, Conference. The Trust alms to have the equlvalent of up to six months, charitable expenditure (approximately £3,500,000 excludlng exceptional expenditure) In free reserves as defined by the Charity Commlsslon. Thi5 level 15 kept under review to ensure that there are sufficient reserve$ to meet new Inltlatives from the Bishops.
CATHOLICTRUST FOR ENGLANDAND WALES TRU5TEES' ANNUAL REPORT FOR THE YEAR ENDED 310ECEMBER 2010 Reserves Pollcy Itontlnuedl The value of The Trust's free reserves at 31 December 2020. following principles established by the Charity Commission, was £1,953,969 or four months of budgeted expenditure. Thè pandemlt has had a larBe Impact on income generatlon. but the trustees are hopeful that efficiencies resultin8 from the restructure wlll Increase the level of free resèrvès avallable over tlme. Future Plans The experl¥n¢e of Covld-19 ha5 ampllfled the nèed lor addresslng the Issues ralsed in the Klnharvie Revlew and movln8 to implement the change5 it recommended more speedlly, whSch Include a slgnificant restructure of the organlsatlon. The focus on costs is crltlcal for the Trust In the wake of Covid-19, as Dioceses experlence slgnificant financial pressurès resulting In the Inabillty to maintaln the current level of the Dlocesan levy for the ftsreseeable future. Worklng under the new structure will enable the Secretarlat to be more outeome focused, Increase flexlble worklng atross all of Sts work streams. and improve work prlorltisation and effectiveness. To achieve thls, a new operatin8 model must be adopted io enable a more efle¢tlve response to the challen8es of this time and to reduce central costs. Followlng the Klnharvle recommendatlons on restructvring, a number of posts were found to be redundant. Thls process was mynaged Jnd completed by 31 December 2020. Tho ncw opcrotin8 Jtructurc began on I" January 2071 and ha5 been embedded Into thè work tsf the Trust. Thls Is being kept under constant revlew. wlth a report bein8 made to the Trustees at each meetln8. A luller explanatlon of thls work wlll be made In next year's annual report. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlnq do¢ument The Cathollc Trust for En8land and Wales ICaTEWI was incorporated as a company limited by guarantee on IS Aprll 2003 and is registered as a charlty. The Tru5t'$ governin8 document 15 the Memorandum and Arlicles ol Assoeiatlon. Appolnrment ol Trustees The retlrement by rotatlon, and re-ele(tlon procedure5 for the trustees are set out In the Memorandum and Artlcles of Assoclatlon. There must be a mlnlmum of el8ht trustees, but there is no maxlmum. The trustee selectlon process alms to ensure that the trustee board collectlvely has the skllls and experlencè to properlv lulfll its funttions. Trustee5 are sou8ht throU8h an extensive process of nominatlon in which candldates are evaluated agalnst clear specifications. In keepin8 wlth the Tru5t'5 Libjettlves, It Is a requirement that candidates are committed Cathollcs. Trustee Induction L7nd trolnlng In order to dlscharge their dutles, trustees are provldèd wlth an Induction. Background inlormatlon on the charity's constitution. objects and finances. together wlth an introduction to the strudure and workings of the Trust and materials explaining trustees, legal re5pon5ibilities, are piovlded. Where trustees identify a need for training to eftertively carry out their duties, appropriate re50ur¢es are identlfled and tralnlng provided. Orgunlsatlon The governance of the charity is a¢¢ompli5hed through the Annual General Meeting with the members. and meetings of the Board of Trustees and its constituent sub committees. The day to day management of the charity is delegated to the Operational Management Group, detalled on page 14 of this report, and Is supervlsed through the constituent Board meetin8S.
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 STRUCTURE, GOVERNANCE AND MANAGEMENT Itontlnued) Risk assessment The trustees assess the major risks to whlch the charlty is exposed, In particular those relatlng to specific operatlonal areas of the charity, its investments and its finantes by identifying and ranking risks in terms ol their potentlal Impact and Ilkelihood. Covld-19 has been Identlfled a5 the maln rlsk currently faclng the organisatlon. havlng both si8nlflcant flnantlal and operational impact. The closure of places of worship has led to a significant fall In Income at parish level which will translate to dloceses and subsequently, vla Curlal Olllces, to the Trust. The financial markets have taken a substantial hrt and the performance of the Trust's Investrnent portfolios Is Ilkely to be volatile in the short to medium term. Voluntary income 8enerated by the national collectlons and other fundraislng efforts has also been severely affected. The Implementatlon of the key recommendatlons of the governance review carried out by the Klnharvle Instltute and resultSng changès in the structures and Ilnances of the organlsation In ordei to mitigate a83insl these rlsks, at least in part. During 2020, the prlmary rlsk contlnued to be the operatlonal impact the Independent Inqulry Intts Chlld Sexual Abuse has on the organisation due to Increases in staff workloads and linancially due to increase5 In stafflng levels and le8al reprasentation costs. L¢8al ¢ounsg1 ¢ontinues to bè sou8ht to advlse the General Secretary as the Church's involvement throughout the Inqulry progre55e5. Work a150 contlnued durlng the year In order to address the concerns Te8ardlng the state of repair of the Eccleston Square property and nece55ary malntenan¢e works. An external surveyor contlnue5 to revlew the works being carrled out by contractors. The senior operatlDnal team are reviewlng and managln8 both the flnanclal and operatlonal impact of thèse works, whlch are to be completed in Autumn 2021. Subsldlory componles The Charlty has three wholly owned subsldlary companles durin8 the year.. Colloqulum ICaTEWI Llmlted, C8CEW Events Llmlted, and Wa151ngham Trust whlch Is also a reglstered charlty. Colloqulum ICaTEWI Limlted was Incoiporated on 15 Aprll 23. Colloqulum collects royaltles from the sale of publications under the ausplces tsf the Blshops, Conference. CBCEW Event5 Llmlted wa5 Incorporated on 23 June 2017. Thls company ha5 been egtabllshed to facllitate larBt scale event5 on behalf of the BSshops' Conference. Walslngham Trust was Incorporated on l November 2018. The assets and operatlons of the charlty were transferred from an unincorporated frust wlth the same name Icharlty number 2657551 on l January 2019 at whlch point CaTEW assumed sole membership of the newly formed charitable company, which recelved a reserve tfansfer totallin8 £1.933.950. The primary area5 of activity Sn 2020 were the Shrine, a hostel, a retreat centre, a tearoom, a Shop selling religious artefacts, a museurn, and the Walslngham Assoclatlon whlch supports the work of the Trust. C15 Llmlted, a company incorporated on 24July 2002, is a company limited by shaty in whi¢h the trust has an 80% holding. This company, which Is registered with the FCA, acts as a broker for a suite of insurance policie5 tailored to the needs of the Catholic Church. The subsidiary companies, results are included in the consolidated financlal statements presented wlth thls report. The CS5A was incorporated on 5 February 2021 as the new company which took respon5iblllty for the work of the trust in respect of 5afeguardlng.
CATHOUC TRUST FOR ENGLANDAND WALES TRUSTEES. ANNUAL AEPORT FOR THE YEAR ENDED 31 DECEM8ER 2020 STRUCTURE. GOVERNANCE AND MANAGEMENT Icontlnuedl RemunerotAon policy The pay of the senior Staff is reviewed annually and normally Increased with consideratlon to both the cost of living and average pay reviews within other not for profit organI5ations. Senior staff salarie5 are benchmarked with reference to the external market through regular participation in relevant pay surveys. The remuneration bench-mark is 90% of thè mid-polnt of the ranBe paid for simllar roles. Relotionships with other Chori¢uble Organisation5 At the request of the Bishops, Conference of En8land and Wales and with the agreement of the Irlsh Eplscopal Conference and the Bishops, Conference of Scotland, CaTEW assumed the corporate trusteeship of the An5c¢mbe 81oethlcs Centre Iprevlously the Llna¢re Centre for Healthcare Ethlcsl IRe8lstered Charlty Number 2743271 on 27 February 2006. On behalf ol the three Bishop5' Conferences mentloned above, the Trust acquired prembses lor the St Luke's Centre (Reglsteied Charlty Number 11110581, a wellness centre for priests and religlous, and acts as the landlord for the centre. As the admlnlstratbve arrn ol the Blshops. Conference ol England and Wales, the Trust has close Ilnks wlth the Dlocesan charltles, on which the annLial a55e55mpnt8 Arp mailp. Thp Trijst relates to the charltles of rellglous congreKatlons wlthin the Conference of Rellglous, partlcularly through Its provlslon of the admlnlstrative, le8al, human resource5 and flnanclal rnanagement for the Cathtslic Safeguardlng Adv150ry Servl¢e ICSASI. The Trust also ielates closely to those agencie5 of the Bishops, Conference that exlst as Independent charitles, the maln ones being.. the Catholic Agency lor Overseas Develtspment ICAFODI, Caritas-soclal Action Network, the Ponllfltal Mlsslon Societles. the Cathollc Agency for Raclal lustlce and the Apostleship ol the Sea. The Trust provldes offlce accommodation for the Natlonal Ju5tlce and Peace Network, Churche5 To8ether In Britaln and Ireland, Apostleshlp of the Sea, and the Cathollc Medical Assoclatlon. 12
CATHOLIC TRUST FOR ENGLAND AND WALES TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 REFERENCE AND ADMINISTRATIVE DETAILS BOARD OF TRUSTEES Rt Rev Peter Brignall (Chairl Mr john Gibbs M$ Sarah Kllmartln Most Rev Malcolm Mcmahon OP Ms Cathy Corcoran Rev Davld Roberts Most Rev Bernard Lon8lev Mr Ktes Kempenaar Mrs Lyn Murray Rt Rev Mark O'Toole Ms Tamsln Eastwood Dr james Whiston OBE COMPANY SECRETARY Rev Canon Chr15topher Thomas CHARITY NUMBER 1097482 8ANKERS HSBC plc 69 Pall Mall London SWIY SEY SOLICITORS DLA Plper LLP 3 Noble Street London EC2V 7EE Jose Perez Rue Marques da Frontelra 1070-295 Llsboa Portugal AUDITOR Haysmaclntyre LLP 10 Queen Street Place London EC4R IAG 13
CATHOLIC TRUST FOR ENGLAND AND WALE5 TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 OECEM8ER 2020 REFERENCE AND ADMINISTRATIVE DETAILS Iconllnuedl INVESTMENT ADVISORS Ruffer LLP 80 Victoria Street London SWIE 5JL Charles Stanley 25 Luke Street London EC2A 4AR Killik & Cts 281 KenslnBton Hlgh Street London W8 6NA Smlth & Willlamson 25 Mooragte London EC2R 6AY OPERATIONAL MANAGEMENT Rev Canon Chrlstopher Thomas Mr Gre8 Pope Mrs Sarah Pearson Ms Lorralne Welch General Se¢retary Emecutlve Dlrector Dlrector of Flnance Dlrector of Admlnlstratlve Support and PA to the General Secretary Human Resources support Ss out50urced to an external HR consultant. INVESTMENT COMmIEE Trusiee members.. Mr John Gibbs Ms Tamsln Eastwood Ms Sarah Kllmartln Advlsors.. Mr Laurence Brennan Mr Dominic Taylèr In ottendan.. Rev Canon John Weatherlll. 14
CATHOLICTRUST FOR ENGLAND AND WALES TRUSTEES. ANNUAL REPORT FOR ThEYEAR ENDED 31 DECEMBER 2020 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also directors of CaTEW for the purposes Df company lawl are responsible for preparing the Trustees, Repoft and the flnanclal statements In accordance with applicable law and United Kingdom Accountin8 Standards Iunlted Klngdom Generolly Accepted Accountlng Practlcel. Company law requires trustees to prepare flnancial statement5 for eath financial year which give a true and fair vlew ol the state of the affalrs of the chailtable company and the Broup and of the incDrnlnB resources and application of resource5. Includlng the Income and expendlture, of the tharltable group for that period. In preparlng these financial statement5, the tru5tee5 are required to.. Select sultable accountln8 pollcles and apply them con51stentlvi Observe the methods and prSnclples In the Charlties SORP,- Make judgements and estlmates that are reasonable and prudent,. State whether appllcable atcountlng standards havè beèn followed, subject to any materlal departures dlsclosed nd explalned In the flnancial statements., Ind Prepare the flnanclal statements on the 80in8 concern basls unless It Is Inapproprlate to presume that thls basls applles. The trurtee4r ore repOnrolbIQ for kccplns proper accountinÈ recordt that dlstlose wlth reasonable accuracy at any tlme the flnanclal p055tlon of the charltable company and enable them to ensure that the Ilnanclal statements ¢omply with the Companles Act 2006. They are also responslble for safeguarding the assets of the charitable company and the group and hence for takln8 reasonable steps for the preventlon and detectlon of fraud and other Irregularltles. In $0 far a5 the tru5tee5 are aware.. therè Is no relevant audlt Informatlon of whlch the charltable company's audltor Is unaware,. and the trustee5 have taken all steps that thèy tsught to have taken to make themselves aware of any relevant audlt informatlon and to establish that the auditor is awaie of that Information. Thls report, whlch incorporates the Strale81¢ Report, was Approved by the Board of Trustees on 14 September 2021 and sl8ned on its behalf by.. Mr John Glbbs Trustee
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS & TRUSTEES OF CATHOLICTRUST FOR ENGLAND AND WALES FOR THE YEAR ENDED 31 DECEMBER 2020 Op5nlon We have audited the financial statements of the Catholic Trust for En8land and Wales lor the year ended 31 Detember 2020 whlch comprise the Consolidated Statement of FInancal Activities, The Group and Charity Balance Sheets, the Consolidated Cash Flow Statement, and notes to the finan¢ial statements, includlng a summary of 518nificant accountin8 pollcies. The flnanclal reportlng framework that has been applied in thelr preparation is applicable law and United Kin8dom Atttsunting Standards. including Financial Reporting Standard 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland (United Kln8dom Generally Accepted Accounting Practlcel. In our opbnion, the flnanclal 5tatements'. give a true and fair view ol the state of the group and parent charitable cownpany's affalr5 as at 31 December 2020 and of the group's net movement in funds. Includlng the Income and expendlture, for the year then ended: have been properly prepared in accordance with United Kin8dtsm Generally Accepted Ac¢ountlng Practice; and have been prepared in accordance wlth the requlrements of the Companles Act 2006. B•sls for oplnlon We conducted our audlt In accordante with Internatlonal Standard5 on Auditing IUKI IISAS ILIKII and appllcable law. Our responslbilltles under those stand3rds are further descrlbed Sn the Audltor'5 re5ponsibllitles for the audit of the flnancial statements sectlon of our report. We are Independent of the charitable company In accordance wlth the ethlcal requlrements that are rèlevant to our audlt of the financial statements In the UK, includbng the FRC'S Ethical Standard, and we have fulfilled our other ethital responslbllities In accordance with these requirement5. We believe that the audlt evldence we have obtained 15 sufficlenl and appropriate to provide a basi5 for our oplnlon. ConclusSons relatlng to g0Sng concern In auditing the fSnan¢lal statements, we have concluded that the trustees, use of the 8olng concern ba515 of accountlng In the preparatlon of the flnanclal Statements Is approprlate. Based on the work we have performed, we have not identlfied any materlal uncertalntles relatlng to events or condltlon5 that, Indlvldually or collectively, may cast signlflcant doubt on the charitable company's abillty to contlnue as a golng concern lor a perlod of at least twelve months from when the financial statements are authorised for Issue. Our responslbllltie5 and the responslbllltles of the trustee5 Wlth respect to golng concern are descrlbed In the relevant sections of thls report. Other Informatlon The trustees are rèsponslble for the other Informatlon. The other Informatlon comprlses the Snformatlon Included In the Trustees, Report. Our opinion on the flnanclal statements dtses not cover the other information and, except to the emtent otherwlse expllcltly stated in our report, we do not express any form of assurance conclusion thereon. In Connectlon wlth our audit of the flnanclal 5taternent5. our responslbS1Sty Is to read the other Information and, In doin8 so, consider whether the other Informatlon Is materially Inconslstent wlth the flnanclal statements or our knowledge obtalned In the audit or otherwlse appears to be materially mlsstated. 11 we Identify such material inconsistencles or apparent material misstatements. we are required to determine whether there is a material mlsstatement in the flnancial statements or a material mlsstatemènt of the other Informatlon. If, based on the work we have performed, we ronclude that there Is a material misstatement of thi5 Qther information, we are required to report that fa¢t. We have nothing io reptsrt in this règard. OpSnlons on other matters prescrlbed by the Companles Art 2006 In our opinlon, based on the work undertaken in the course of the audit-, the information given in the Trustees, Report Iwhich include5 the strate8ic report and the directors, report prepared forthe purposes of company lawl forthe financlal year for which the financlal statement5 are prepared is consistent with the financial statements.. and the strategic report and the dlrectors, report included wlthin the Trustees, Report have been prepared in accordance with applicable legal requlrements. 16
INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS & TRUSTEES OF CATHOLIC TRUST FOR ENGLAND AND WALES FOR THEYEAR ENDED 31 OECEMBER 2020 Matters on whlch WÈ Aré requlred to report by exceptlon In the light ol the knowledge and uhder5tanding of the charitable tompany and its envlronment obtained in the course f the audit, we have not identified material misstatements in the Trustees, Repert (which incorporates the strategic report and the directors, report). We have nothing to port In respect of the followlng matters In relatlon to which the Companies Act 2006 requlres us to report to you If. in our opSnlon'. adequate atcounting reeords have not been kept by the parent charitable company, or Teturns adequate for our audlt have not been received from branches not vlslted by usl.. or the charStable company financial statements are not in agreement with the accountlng records and return5', or certain disclosures of trustees. remuneration specified by law are not made,. OT we have not receSved all the Informatlon and explanatlons we requlre for our audit Re5ponsSbllltles of trustee5 for the flnancSal statements As explained more fully In the trustees. responslbllitles statement set out on pa8e 14, the trustees (who are also the directors of the charltablè tompany for the purposes ol Company lawl are responsible for the preparation of the flnanclal statements and lor bein8 satisfied that they 8ive a true and fair view, and for such internal control as the trustees determlne Is necessary to enable the preparation of flnanclal 5tatement5 that are free from material misstatement, whether due to fraud or error. In preparlng the flnanclal statements, the trustees are responslble lor assesslng the charitable company's abillty to eontlnue J going concern, di0rc1or1ns, arJ applicoble, mattere related to oolng toncern and using the 80ing concern basls of accountSng unless the trustees elther Intend to1Squidate the charltable company or to cease operatlons, or have no realSstlc alternatlve but to do so. Audltor's rt$ponslbllltles for the audlt of the flnanclal 5titements Our oblectlves are to obtaln reasonable assurance about whether the flnanclal statements as a whole are free from materlal misstatement, whether due to fraud or error, and lo Issue an auditor's report that Include5 our opinion. Reasonable assurance is a hl8h level of assurance, but is not a BuaraDtee that an audlt Conducted In accordance wlth 15As IUKI will always detect a material mlsstatement when It exists. Mlsstatements can arise from fraud or error and are eonslderèd material If, indlvidually or in the aggregate, they could reasonably be expected to Influence the e¢onomlc decisions of u5er5 taken on the bas15 of these flnanclal statements. Irre8ularitles, includln8 fraud, are instances of non-compliance with laws and re8ulatlons. We des18n procedures in Ilne with our responslbllltles, outllned above, to detect material mlsstatements In respect of irrtr8ularities, includSn8 fraud. The extent to whl¢h our procedures are ¢apable of detecting irregularltles, Includlng fraud is detailed below.. Based on our understandlng of the charltable company and the envlronment in whlch It operates, we Identlfled that the prlncipal risks of non-¢omplian¢e with laws and re8ulations related to the Companies Act 2006 and the Charitles Act 2011 and wè tonsidered the extent to whlch non-compliance might have a materlal effe¢1 on the flnanclal statement5. We also consldered other factors such as Income tax. payroll tax and sales tax. We evaluated management's Incentives and opportunities for fraudulent manipulation of thE financial statement5 lincludln6 the risk of overrSde of controls), and concluded that the risk was low. Audit piocedures performed by the engagement team Included.. Dlscusslons wlth management Includln8 conslderatlon of known or su5pecled in5tance5 of non.compliance with laws and regulatlon and fraud,. Evaluatln8 mana8ement's controls designed to prevent and detect irregularities,. Identlfying and testing journals, in particularlournal entries posted with unusual account comblnatlons, postings by unusual users or wSth unusual destriptions,. and Challen8in8 a55umptions and jud8ement5 made by management in their crltlcal accountln8 estimates A further descrlptlon of our responslbllltles for the audlt of the flnanclal statements Is located on the Financial Rèportlng Councll's website at.. ww.frc.or audltorsres onsibllitles. This description forms part of our auditor's report. 17
INDEPENDENT AUDITOR'S REPORTTOThE MEMBERS &TRUSTEES OFCATHOLIC TRUST FOR ENGLAND AND WALES FOR THE YEAR ENDED31 DECEMBER 2020 Use ol our report This report is made solely to the charitable company's rnembers. as a body, in accordante wlth Chapter 3 of Part 16 of the Companles Act 2006. Our audit work has been undertaken so that we mi8ht state to the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent permltted by law. we do not accept or assume responslbility to anyone other than the charltable company and the charitable company's members as a body. lor our audit work, for this report. or for the oplnion5 we have formed. Adam Halsev (Senior Statutory AudStOTI For and on behalf of Haysmaclntyre LLP. Statutory Audltors Date.. 28 September 2021 10 Queen Street Place London EC4R IAG 18
CATHOLICTRUST FOR ENGLANDAND WALES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR ThE YEAR ENDED 31 DECEMBER 2020 Unrestrlrted Funds Restrkted Funds Total 2020 Total 2019 Notes In¢ome and endowments from: DonatSons and legacles Diocesan asse55mentS Charitable activities Other tradlnR activities Investment income Other income la Ib Ic 3,287,890 1,882,348 784,922 962,241 580,029 160,145 4,291,223 975,038 72,156 7,579,113 2.857,386 857,078 962.241 630.528 491,328 3,244,322 2,822,543 1,323,261 1,136,366 883,044 302.546 Id le 50,499 331,183 Total 7,657,575 5,720,099 13,377,674 9,712,082 ExpendStur• on: Raising funds Other trading actlvltles Charitable activitles 246,636 764,854 4,182,280 41,412 288,048 764,854 10,891,928 265,076 790,204 8,923,590 6,709,648 Total 2a 5,193,770 6,751,060 11,944,830 9,978,870 Net 1oln$/llossesl on Investm•nis 6a6b 1,282,087 149,3341 1,232,753 4,394,926 Transfer of reserve5 16 2,284,161 Net Incom•ll*xpÈndlturel before translers 3,745,892 11,080,295) 2,66S,597 6,412,299 Transfers between funds 12 1372,1581 372,158 Net In¢omellexpendlture) for the yeaf before mlnorfty Inlere5t 3,373,734 1708,137 2,665,597 6,412,299 Mlnority Interest 1693,0831 1693,0831 1660.3161 Fund balances brought forward 42,947,105 6,024,074 48,971,179 42,558,880 Fund balances forward carrled 45.627,756 5.315.937 50,943,693 48,310,863 The note5 form part of these accounts. Detalls of comparatlve flgures by fund can be found in note 16. 19
CATHOLICTRUST FOR ENGLANDAND WALES BALANCE SHEETS AS AT 31 DECEMBER 2020 Group 2020 Group 2019 Charity 2020 Charlty 2019 FIXED ASSETS Tangible assets Investments Llsted investments and Investment In 5ubsldlary companv Pro8ramme related invÈstments Notes 10,659,417 5,709,364 6,862.293 4,044,997 34,415,970 1,160.416 35,459,204 1,172,416 34,440,971 1,160,416 35.484,205 1,172,416 46,235,803 42,340,984 42,463.680 40,701,618 CURRENT ASSETS Stock Debtors Cash at bank and Sn hand 60,988 5,745,504 ,711,505 63,344 1,280,153 11,401,462 1,197,685 4,790,347 1,037,190 3,564,S39 14,517,997 12,744,959 5,988,032 4,601,729 CURRENT LIABILITIES C¥edltors.' Amounts fallinB due wlthln one Year io 19,117,024) 16,114.7641 13,869,122) 11,07I,8171 NET CURRENT ASSETS 5,400,973 6,630,195 2,118,910 3,526,912 TOTALASSETS LESS CURRENT LIABILITIES 51,636,776 48,971,179 44,582,590 44,228,530 NET ASSETS 51.636,776 48,971,179 44,582,590 44,228,530 RESTRICTED FUNDS Restricted Income funds 12 S,315,937 6,024,074 5,319,959 6,017,856 UNRESTRICTED FUNDS General lund5 Desl8nated funds Trading funds 1,953,969 40,920,494 2,753,293 3,702,449 35.915,499 2,668.841 2,042,340 37,220,291 3,795,679 34,414,995 13 TOTAL UNRESTRICTED FUNDS 45,627,756 42,286,789 39,262,631 38,210.674 TOTAL CHARITABLE FUNDS 50.943,693 48,310.863 44,582,590 44,228.530 Tradlng fund5 attrlbutable to mlnodty interest 693.083 660,316 TOTAL 51,636.776 48,971,179 44,582,590 44,228,530 Approved by the Trustees on 14 September 2021 and 518ned on their behall bv.. Mr john Glbbs Trustee The notes form part of these accounts. Company re8lStration number.. 04734592 20
CATHOLIC TRUST FOR ENGLAND AND WALES CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 2020 2019 CASH FLOW STATEMENT Cash flows from operatin8 activities.. Net cash provlded by operatlns artlvltles.. (see below) 1273,3481 2,301,688 Cash flows from In¥estln8 a¢tlvltles: Dividends, interest and rent5 from investments Purchase of property, plant and equipment Proceeds from the sale of property, plant and equlpment Purchase of Snvestments Proceeds from sale of Investments Property plant and equipment transferred Inote 141 Reserves transferred (note 141 630,528 15,371,2211 883,044 1782,4231 111.336,1531 13,648.237 110,911,617) 11,284,334 11,187,407) 2,284,161 Net Cash provlded by Investlni actlvStles 12,428,609) 1,570,092 Cgsh flow$ from flnan¢lni act1lIes. Repayments of borrtswlng 12,000 N•t c•sh provlded by fln•nclng actlvltS 12,000 Change In cash & cash equlvalents in the reportln8 period Cash & cash equlvalents at the beglnning of the reportlng perlod 12,689,957) 11,401,462 3,871,780 7,529,682 C•sh & ush equlvolenti at the end of the reportlni perlod 8,711,505 11,401,462 R•conclllatlon of net Income to ush 5nflow/loutflowl from operatlng actlvltles Net Income for the reportln8 perlod la5 per SOFA) 2,665,597 6,412.290 Adlustm•ntg for: Reserves transferred Depreclatlon charges Deficlt on dlsposal of property, plant and equlpment IGainsl on Investments Dividends, iniere5t & rent5 from investment5 (Decreasellincrease In Stock (Decreaselllncrease In debtors Intrease in creditors 12,284,161) 360,319 189,188 14,208.0401 1883,0441 163,3441 1150,1311 2.928.611 421,168 11,268,850) 1630,5281 2,356 14,465,351) 3,002,260 Net cash provlded by operatln8 artlvltle$ 1273,3481 2,301,688 ANALYSIS OF CHANGES IN CASH IN HAND AND AT BANK ljonuary 2020 31 December 2020 Cash Flows Cash in hand and at bank 11,401,462 12,689.9571 8,711,505 21
CATHOUC TRUST FOR ENGLAND AND WALES STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR ENDED 31 DECEMBER 2020 The financial statements hève been prepared In accordance with the Finantial Reportlng Standard appllcable In the UK and Republic of Ireland IFRS 1021, the Statement of Recommended Practice"Accountin8 by Charities" SORP 2015 and the Companies Act 2006. The parti¢ular accountlng policies adopted are described below. The financial statements are prepared under the historical cost convention, as modlfled to Include certain tangible flxed assets at a valuation and fixed asset Investments at talr value. Basls of preparatlon The flnanclal statements represent the Catholic Trust for England and Wales together wlth Its three tradin8 subsidiary companies Iconsolldated on a line by line ba5151115ted In note 14. In accordance wlth the Companles Act 2006, no separate statement of financlal activltles has been prepared for the Charity alone. The Charrty meets the deflnltlon of a publlc beneflt entlty under FRS 102. Aets and Ilabllitles are Initially recognised at historical cost or transactlon value unless otherw15e stated In the relevant actountlng polScy note5. bl Preporotlon of account$ on a goln8 c(¥ncern bas1$ The trv5tees con51der there are no materlal un¢ertalntles about the Charlty's ablllty to contlnue as a 80ing toncern. The revlew of our financial posltlon, reserves levels and future plans gives Trustees ¢onfidence that the Charlty remalns a 8olng concern lor the fore$eeable future. ¢1 le8a¢les, Don•tlons and Gr•nts Legacles and donatlons are reco8nlsed when recelpt Is probable.. when the Trust becomes legally entltled to them,. and they can reasonably be measured Sn flnanciil tèrms. Receipts ol property, investments or other glfts in klnd are Included at falr value. Grants are recognlsed when re¢elvable. dl In¥•stments and In¥•stm•nt Incom• Flxed asset Investments, excludlng the Investment In a tradln8 subsidiary* are included at thelr falr value. The investment in a subsidiary company Is Included In the financlal statements at cost. Investment income Is a¢counted for as It accrues. el Taxatlon As a regSstered charlty, the Trust Is exempt from Ineome tax, corporatlon tax and capital galns tax derlved from its charltable aetlvities. Recovery of tax deducted at 50ur¢e15 credlted to the category of income to whi¢h it relates. 11 Income and Expendlture Income15 Included in the Statement ol Financlal Activities on the basis of the amounts receSvable for the year and expenditure is included on the basis of the amounts payable lor work done and servlces provided In the year. Charitable expenditure consists of all expendSture dlrectly relatin8 to the objects of the Charity. Certain central costs, whlch cannot be directly allocated, are apportioned on the basls of the Trustees, estimate of the time spent on the relevant functlons. 22
CATHOLIC TRUST FOR ENGLAND ANO WALES STATEMENT OF ACCOUNTING POLICIES Icontlnuedl FOR THE YEAR ENDED31 DECEMBER 2020 Income and Expenditure Icontinuedl RalsSng funds conslsts of all expendlture Incurred by the Trust to ralse funds for its charitable purposes. Certaln central c05t5. which cannot be directly allocate(J. are apportioned between direct charltable expenditure and governance costs On the basis of the Trustees, estimate of the tlme Spent on the felevant lunctlon5. Supports cost5 comprise the costs of running the Charlty, including Strategic planning for its future development, also external audit, any le8318dvice, and all the ¢0sts of complylng with constltutlonal and statutory requirement5, such as the costs of Trustees. meetings and ol preparing statutory accounts and satlsfying publlc accountabllitv. gl Tanglble flmed ass•ts Indlvldual flxed assets C05tln8 more than £S.000 are capltallsed at cost. DeprecSatlon on freehold property 15 calculated on a 5tral8ht Ilne basis at a rate of 1% per annum, Depreclation on lurnlture and equlpment Is calculated by the stralght1Sne method to wrlte off the costlvalue less anticipated residual value, over an expected useful Ilfe of four years. A full yèars, depreclatlon Is charged In the year ol acqulsition and none in the year of dlsposal. hl Gllns and Lojses Gèlns/losse5 on investment5 are calculated as the dlflerence between openln8 markèt value and closln8 market value after adlustSng for additlons and dlsposals durlng the perlod. No dlstlnctlonls made between reallsed and unreallsed galns In the flnancial statements. Proiramme related Inv•stments Programme related Investments are Included In the balance sheet at cost. Any 8aln or105s ar15in8 from disposal or Impalrment Is credited Clr chargtd to the statement Of flnanclal actfvitles. Sto¢k 5to¢ks are staled at the Ic*wer of cost or net reallsable value. Cost represents pur¢hase prlce, calculated on a flr5t in flrst out basis. kl Debtors Trade and other debtors are reco@nised at the settlement amount due after any discounts offered. Prepayments are valued at the amount prepaid net of any discount5 due. A¢crued Intome and tax recoverable is included at the best estimate of the amounts recelvable at the balance Sheet date. Credltors Creditors are reco8nised where the charity has a present obli8ation resultin8 from a past event that will probably result In a transfer of funds to a third party and the amount due lor settlement can be measured or estimated rellably. CrèdStors are normally recognised at their settlement amount after allowing for any trade discount. Fund Accounting Unrestricted funds comprlse accumulated surpluses and deficlts on general funds. They are available for use at the discretion of the Trustees in furtherante of the general charitable objectlves. Designated funds are funds set aside by the Tru5tee5 for specific purpose$15ee note 131. Restricted funds are used for speclfic purposes as stated by the grantor. Expenditure which meets these criteria is charged to the fund (see note 121. 23
CATHOLIC TRUST FOR ENGLANDAND WALES STATEMENT OF ACCOUNTING POLICIES IcontSnuedl FOR THE YEAR ENDED31 OECEMBER 2020 Employee beneffts Short temi benefits Short term benefits Includlng holiday pay are recognised as an expense in the perlod In whlch the service 15 recelved. Employee termination benefits Termlnatlon beneffts are accounted for on an accrual basls and In Ilne wlth FRS 102. Penslon scheme The charlty operates a defSned contributlon pension scheme for the benefit of its employees. The assets of the scheme are held independently from those of the charlty In an Independently admlnistered fund. The penslons Costs chargèd In the financlal statements represent the contributlons payable during the year. L•aslns Rent payable under operatin8 lea5e5 is ¢harBed to the Statement of Flnanclal Actlvltle5 Qver the lease term. pl Forel8n currency translatlon Monetary assets and Ilabllltles denomlnated In forelgn curren¢les are translated into steTlln8 at the rates of exchange ruling at the balance sheet date. Transactions in forelgn currencies are recorded at the rate ruling at thè date of the transactlon. All dlfleiences are taken tci the statement of flnanclal actlvltles. ql Crttkol •ccountln8 ludiements and key 50ur¢es ol estlmatlon uncertalntv In the appllcatlon of the accounting pollcles, Trustees are qUIred to make ludgements, e5tlmates, and assumptlons about the tairying value of asset5 and liabilities that are not readily apparent from other sources. The estlmates and underlyln8 assumptlons are based on historical experlence and other factors that are considered to be relevant. Attual re5uIt5 may dlffer from these estlmates. The e5tlmates and undertying assumptlons are revlewed on an ongolng basls. Revlsions to accountin8 estlmates are recognlsed in the period in which the estlmate is revised if the revision affècts only that period. or In the perlod of the revislon and future perlods If the revlsion affected current and future periods. Judgements made by the Trustees, In the applbcatlon of these accounting pollcles that have slgnlflcant elfect on the financial statements and estlmates with a si8nificant risk of material adjustment In the next year are deemed to be In relatlofi to the depreclatlon rates of tangible Ilxed assets and are discussed above. In the view of the Trustees. no assumptions toncerning the future or estimation uncertainty affe¢ting asset5 or liabilltles at the balance sheet date are likely to result in a mateiial adjustment to thelr carrylng amounts in the next financial year. 24
CATHOUC TRUST FOR ENGL4NDAND WALES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 310ECEMBER 2020 DONATIONS AND LEGACIES Unrestrlrted Funds 2020 Restrlcted Funds 2020 Total 2020 Total 2019 Oonations Le8acles Grants recelvable 3,159,212 128,678 1,066,323 4,225,535 128,678 3,224,900 2,784,206 26ri.116 200,000 3,224,9(X) 3,287,890 4,291,223 7,579,113 3,244.322 Ib. DIOCESAN ASSESSMENTS Unrestrlrted Funds 2020 Restrlcted Funds 2020 Total 1020 Totsl 2019 Arundel and Brl8hton elrmlngharn erentwood Cardiff Cllfton E8St Anglla Hallam exham and Newcastle Lancaster Leeds Llverpool Mentvia Mlddlesbrou8h Northampton Ncttln6ham Plymouth Portsmouth Sallord Shrew5bury Southwark 89,298 161,881 77,978 29,307 57,130 39,212 28,891 95.006 59,862 66,056 206,914 2,415 39,172 50,625 74,759 76,736 84,763 102,181 67,519 152,568 309,430 5.645 42,458 1Th),520 45.387 21,754 27,316 13,401 19,514 60,118 29,946 37,976 100,049 5,478 21,218 24,230 36,472 15,279 37,376 86,778 47,443 82,181 115.332 4,812 131,7S6 262,401 123,365 51,061 84,446 52,6L3 48,405 155,124 89,808 104.032 306,963 7,893 60,390 74,855 111,231 92,015 122,139 188,959 114,962 234,749 424,762 10,457 5.OTrJ 136,728 234,822 124,805 51,943 89,875 50,977 49,880 172,303 84,174 103,951 305,756 7,88B 62,994 79,222 109,937 69,630 128,302 192,540 121,714 227,310 399,231 10,561 5,000 3,000 Westmlnster Wrexham Contribution from B15hoprlc of the Forces Contribution from Syro Malabhr 1,882,348 975,038 2,857,386 2.822,543 25
CATHOLIC TAUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS FOR THEYEAR ENDED 31 DECEMBER 2020 Ic. CHARITABLE ACTIVITIES Unrestrlcted Funds 2020 Restrlcted Funds 2020 Total 2020 Total 2019 Conferentlng Income Subsidiary ¢harltable actlvltles 3,794 781,128 226 71.930 4,020 853.058 173.862 1,149.399 784,922 72,156 857,078 1,323.261 Id. INVESTMENT INCOME Unrestrlcted Fund5 2020 liestrlcted Funds 2020 Total 2020 Total 2019 Arising on quoted Inve5tments'. Dlvldend5 Fixed Interest 459.807 77,864 7,088 43,138 466,895 121,002 645,095 176,259 537,671 39,316 3,042 50,226 587,897 39,316 3,315 821,354 51,000 10,690 Rental Income Bank Interest 273 580,029 SO,499 630,528 883,044 le. OTHER INCOME Unr•strlcted Funds 20ZO Restrl¢iéd Funds 20ZO Total 2020 Total 2019 Other income 160,145 331,183 491,328 302,546 160.145 331.183 491.328 302,546 26
c c En n +J 4b Ln J in PJ J O ¥b W trJ
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED $1 DECEMJER 1020 Zb. ALLOCATED SUPPORT COSTS Charltable A¢tlvltles Aalslng Funds Totsl 2020 Total 2019 staff costs Premises costs Other costs 562,595 378,030 287,617 4,304 8,138 2,387 S66,899 386,168 290,(4 405,682 503,499 215,664 Pro rata basls Head count Pro rata basls 1,228,242 14,829 1,243,071 1,124,845 Support costs have been dlrectly charged to the relevant actlvlty on the basls of use. 1020 2019 Support Costs Include- Audltorfs remuneiatlon. Audlt Other services 19,650 17,850 1,700 28
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED31 DECEMBER 2020 ANALYSIS OF GRANT MAKING ACTIVITIES Unrestricttd Fund5 2020 Restrlctèd Funds 2020 Total 2020 Total 2019 National Board of Catholic Women National Council Lay Association Caritas Social Action Network Lisbonlan Soclety CARI Walslngham Trust Parliamentary Intern5 10,000 7,000 90.000 4,500 7,0(X) 90,OCX) 4,5CiI 7,OCK) 90,OLK) 4,5rK) 50,000 300,C¥JO 32,365 50.000 300.000 ZOO,OC4J 34,502 32.365 Doyfor Llfe Anscombe Bioethlcs Centre Other 8rants awarded loo.000 242,031 loo,000 242.031 ioo.oTr) 185,719 Celebrotln9 Famlly Fund gronts Diocese of Northampton 12,500 Prlests, Tralnlng ond Formotlon gronts Ordinariate of Our Lady of Walslngham Syro Malabar Dlocese of Northampton Dlocese ol East An8lla Diocese ot Cardlff Diocese of Hexham and Newtastle Diocese of Lancaster Dlocese of Leed5 Dlocese of Menevla Dlocese of Plymouth Diocese of Portsmouth Dloce5e of Wrexham 10,000 io,ocN) 20,000 25,000 20,OCKI 20,000 20,0 25.0 10.000 10,000 20,000 25,000 20,000 20,000 20,000 25,000 35,tsJO 20,0 25,000 20,000 50,000 20,000 2LI.O 32,500 iO.C4JO 20,000 32,500 10,000 10,000 Hlstorlc England Grants 2,998,117 2,998,117 hurches Leglslation Advlsory Servlce CCEE COMECE 20,700 11,836 14.500 20,700 11,836 14,500 20,500 11,362 15,545 448,536 3,635,013 4,083,549 871,628 29
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2020 STAFF 2020 2019 Staff Costs: Wages and salarles Soclal securlty Pension costs 3,468,679 312,792 266,553 3,311,380 309,447 241.391 4,048,024 3,862,218 Number of Employees: Number Number Secretariat Departments and Agencle5- Average 106 107 106 107 Secretarlat Departments and A8encle5- Full Tlme Equlvalent 98 99 98 Termination payments of £45,09012019'. £nill were paid to one employee representlng payments made under compromlse a8reements. The number of empltsyees wlth emoluments 8reater than £60,000 durlng the year were as follows.. Number Number £60,000- £70,1)00 £70,000. £80,000 £80,000. £90,000 £90,000. £100,000 Employer contributlons totalling £39,80812019- £33,986) were made to defined contrlbutlon schemes In respect of all those employees who earned £60,01)O or more durlng the year las deflned above). The charity trustees were not paid or received any other benefit5 from employment with the Trust or its subsidiaries in the vear12019.' nlll. Travel expenses of £17012019.. £2,022) were reimbursed to one12019: six) trustee durlng the year. No trustee re¢eived payment for profe551onal or other 5eTvi¢es supplled to the charlty12019'. £nlll. In aggregate, key mana8ement personnel (deemed as bein8 the Operational Management Group Consisting of the Executive Director, Director of Finance and Director of Adminisirative Supportl received remuneration totallin8 £244,321 durin8 the year12019: £156,622). 30
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS {Contlnuedl FOR THEYEAR ENDED 310ECEMBER 2020 TANGIBLE FIXED ASSErs Group Freehold Bulldln85 Furnltufe & Equlpment Total COST OR VALUATION At beginnln8 of the year Additions Disposals 4.867,670 5,309,834 126,1991 3,001,997 61,387 193,8821 7,869.677 5,371,221 1120,0811 At end of the Year 10,151.305 2,969,S02 13,120,807 DEPRECIATION At beginnln8 ol the year Deprètlatlon Dlsposals 583,609 297,512 126,1991 1,576,694 123,656 193,8821 2,160,303 421,168 1120,0811 At end of the year 854,922 1,606,468 2,461,390 NET BOOK VALUE Nei book value at be8lnnln8 of the year 4,284,061 1,425,303 5,709,374 Net book value at end of the year 9,296.383 1,363,034 10,659,417 All fixed assets are used In dlrett furthèrance of the Charlty's objects. Included In the abovè table are assets held by subsidiaries with a net book valuè of £3,797.122. The charlty has continued to adopt a policy of not revaluing it5 tangible fixed assets. The book value of freehold propertles Is based upon book value at the tlme of transfer frorn predecessor charities In 2003. It Is Ilkely that there are material differences between the open markèt values of the charity's freehold properties and iheir book value5. The amount of such differences cannot be ascertained without incurrln8 slgnillcant costs, whlch, In the oplnlon of the trustees, is not justlfled in terms of the beneflts to the users of the accounts. INVESTMENTS Group Charltv 20ZO 2019 2020 2019 Listed Investments (note 6a) Inve5trnent in subsidiary cornpanles (note 141 34,415,970 35.459,204 34,415,970 25,001 35,459,204 25,CK)I 34,415,970 35,459,204 34.440,971 35,484,205
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS (Continued) FOR THEYEAR ENDED 31 DECEMBER 2020 USTED INVESTMENTS 2020 2019 Market value at l January 2020 Additions Disposals Rèvaluatlon Ilossesllgalns 35,052,817 30,510,858 11,061,248 11,606,253 113.648.2371 111,284,334) 1,268,850 4,220,040 Market value at 31 Oecembei 2020 Cash held for reSnvestment by investment managers 33,734,678 681,292 35,052,817 406,387 34,415,970 35,459.204 Cost of Ilsted Investments at 31 December 2020 29,455,190 31,510.588 Investments at falr value comprlsed: Equltles Fixed interest Other Instruments Cash 25,750,607 4.124,648 3,859,426 680,809 27.037,253 5,528,416 2,487,148 406,387 Total 34,415,970 35,459,204 All Investments arè carrled at thelr falr value. Investment In eoultles and flxed Interest se¢urltles are all traded in quoted public markets, primarily the London Sto¢k Exchange. Holdlngs in common Investment fund5, unlt trusts and open-ended Investment companles are at the bid prlce. The basis of fair value for quoted Investments 15 equivalent to the market value, usln8 the bid prlce. A55et sales and purchases are retognised at the date ol trade at cost Ithat is their transaction value). RECONCILIATION OF GAINSIILOSSESI ON INVESTMENTS Group & Charlty 2020 2019 Revaluatlon Ilossesllgalns Ilossesl/galns on forward contracts 1,268,850 136,0971 4,220,040 174,886 ILossesl/galns on Investment5 per SOFA 1,232,753 4,394,926 The above relatesto 8alns and losses made on forward contracts In the year utili5ed to combat exchan8e rate flvctuations. PROGRAMME RELATED INVESTMENTS Grgup & Charltv 2020 2019 5t Luke's Centre Venerable English College, Rome 1.000.000 160,416 1,000.000 172,416 1,160,416 1,172,416 32
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS {Contlnu•dl FOR THEYEAR ENOED 31 DECEMBER 2020 PROGRAMME RELATED INVESTMENTS IcontlnuÈdl St Luke's Centre The St Luke's Centre was purchased In 2006 to provlde a Wellness Centre for Priests operated by the St Luke's Institute of Maryland, USA. It is a projectto ministerto prlests and religlous women and men who so generously give of themselves to serve others. A full repairin8 lease lor live years at a peppercorn rent has been sl8ned on 27 Aprll 2018. Venerable En8llsh ColleBe IVECI Rome Thls Investment relates to fund5 advanced from a constituent charlty, The Llsbon Trust Fund, In 1987 and 1993 totallln8 £428,700, to glve Ilnantial support to the collège. The college is a seminary for the training of priests for the Dloceses of En8land and Wales. The VEC a8reed to be8in repayment of these monies at the rate ol £IO,O(M) per annurn, ¢ommenclng I january 2006. A lump sum repayment of £50,000 wa5 made In 2014. Further lump sum repayments were made as follows.. £57,000 In 2015, £10.000 In 2018. £12,000 In 2019 and £12,000 In 2020. The rate of repayment will be reviewed after 10 years and the loan Is Interest ffee. STOCK Group Charlty 2020 2019 2020 2019 Shop Stock, for resale Other stock 49,493 11.495 50,259 13,085 60,988 63,344 DEBTORS Group ChArlty Z020 2019 2020 2019 Prepayments and accrued Income Other debtors Amounts due from subsldlary undertakSn8S 1,316,162 4,429,342 1,044,575 235,578 957,750 181,299 58,636 865,IS4 115.605 56,431 5,745.504 1,280,153 1,197,685 1,037,190 10. CREOITORS: amounts falllng due wlthln one year Charlty 2020 2019 Z020 2019 Expense creditors Social Securlty and othei taxes Oeferred income INote 101 Other creditors Accrua15 385.593 70,138 466,442 4,947.592 3,247.259 2,639,008 98,338 482,378 2,686,083 208,957 248,267 59,422 24.259 382,606 3,154,568 450,922 62,980 32,242 388,907 139,766 9,117,024 6,114,764 3,869,112 1,074,817 33
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2020 11. DEFERRED INCOME Group & Ch¥rltv 2020 2019 Balance as at l January 2020 Amctunt released to Income Amount deferred In year 482,378 501.616 1482,3781 1501,6161 466,442 482,378 Balance at 31 December 2020 466,442 482,378 34
CATHOLIC TRUST FOR ENGLAND AND WALES NOTE5 TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDEO 31 DECEMBER 2020 12. RESTRICTED FUND5 Balance at ljanuary 2020 Movement On Investments Balance at 31 December 2020 Group & Chorlty Income Expend5ture Transfers Catholic Youth Reserve 0Socesan Reserve Day for Life Prlests Tralnlng fund Prison Chaplaln¢y World Communicatlons Dav Safeguardlng Reserve Natlonal Cathollc Safe8uarding Commission CatholSc Edu¢atlon Servite L15bon fund Falth in the Future Home Mlsslon 6,784 100,173 444,417 20,928 33,813 6.784 100,173 154,430 8,428 48,491 53,904 200,000 36,000 1343,8911 1212.5001 121,3221 69,643 66,601 1308,1761 1347.9621 238,533 277,999 3,364 17,417 64,050 2,495,105 1,117,130 321.721 443,667 763,127 156,9221 11,041,096) I2,ICl 141,4121 1156,7431 24,545 2.521,805 319.621 308,307 452,447 149,3341 67,770 84,596 1161,7181 1238,5331 Natlonal Office for Vocatlon 13,068 10,500 172,2311 162,6191 59,163 60,250 Internshlps Safeguarding a5 Mlnlstry Gèneral secretary's Rlsk mana8ement fund EcumenScal Instruments St Faustlna Fund Holy Land Coordinatlon Santa Marta Group Protectln8 Cathollc Herlta8e ,131 2,205 2,20S 139,102 1124,9441 193,SWI 116,9381 113,6361 122,7321 136,4421 14,158 93,5¢JO 16,938 21,420 131,685 79,8SS 5,734 13,518 108,953 73,413 30,000 Cathollc Councll for the Independent Inqulry Into Chlld Sexual Abuse ICCIICSAI 1161,3571 446,910 137,300 1358,8471 31,782 141,5121 137.300 88,547 282,563 253,151 safe Spaces Catholic Students Trust Catholic Enquiry Office Raclal justice Sunday Celebrating Family Fund Envlronment Advlsory GTOVP Legal Advlser The God who Speaks Catholic Fund for Chaplains In Higher Educatlon Hlstorlc England grants Mater E¢clesiae Other restricted funds Subsldlary restrlcted funds 88,547 332,641 255,312 io 70.269 150,0881 172,4301 51.562 14.5081 47,054 142.3051 13,1501 122,4631 42.305 131,7821 660 34,932 21,803 350,211 350,211 26.783 3,024,900 9,913 7,967 203,834 12,998,117) 160,0001 50,087 2.484 6,218 10,451 14,0221 1214,0741 6,024,074 5,720,099 16,751.0601 372,158 149,3341 5,315,937 35
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENOED31 DECEMBER 2020 12. RESTRICTED FUNDS Icontinuedl The transfers from general funds to the restrlcted funds durSng the year represent additional funds required to assist the support of various projects. Fund transfers within Faith in the Future represent the allocation of funds to other project work. Fund transfers within Day for Life, World Communitatlons Day and Home MSsslon are In support of project work In line with the tsbjective5 of these funds, and to fund an intern within the CCN. Catholic Youth Reserve A reserve held previously by the Natlonal Cathollc Fund for expenditure a550clated wlth young people. Dioceson Reserve A fund to asslst dloceses whlch are Sn fSnancial need. Small grants have prevlously been made from thSs fund to 5ub51di5e home to school transport in remote area5 of England and Wales. Doylor Life An annual Day lor Llfe 15 celebrated In England and Wales to promote the sanctlty of human Ilfe. The parlsh collection taken on the day funds the Blshops. Conference contrlbutlon to the Anscombe 8loethics Centre, the productlon of pro. Ilfe materlals and other dèslgnated ¢harltles as determlned annyally. Priests, training Fund Thls fund represents the balance of grant monles recelved to be used expllcltly for the educatlon of 5emlnorlan5 In England and Wales and at the dis¢retlon of the Bishops, Conference to support those dlocèses most In need ol funds for the tralnln8 of future priests. Pr150n Choplolncy project Thls fund represents monles collected to 5UPPOrt the post of the Caihollc Blshops, Prlstsn Advlser wlthln the conference secretarial. Thls role supports the dioceses In ensurin8 the pastoral needs of Catholics In prlson are prc>perly met and that the Church is engaged with the Prlson Servlce at national level. Rellglous resrructurlno project Thls fund reprèsents monies recelved in order to Implement the restructurln8 of the Reli8ltsus Safeguarding Commlsslons. World Communicotlons Day ThSs offSce of the Bishops, Conference Is funded almost entirely by proceeds from the World Communlcatlons Day collectitsn In England and Wales speclfScally for Cathollc communlcatlons. Sofeguordlng Reserve This denotes reserves accrued under expendlture for safe8uardln8 actlvlties, Including CSAS. Notional Catholic SoAeguordlng Commission This fund represents monies set aside to fund the cost of the Safe8uardin8 Implementation Group, who were appointed by the Bishop5 to revlew the recommendatlons of the Cumberlege Comm5sslon report, Safeguarding wSth Confidence. Lisbon Fund Thi5 fund wa5 inherited from the Lisbon Trust Fund foT the purposes of malntainlng a property owned by the English Colle8e Llsbon to fulfil the requlrements of the Holy See on thè Closure of thè seminary. The sale ol the propertv completed durlng 2008 and the proceed5 are to be administered according to the requirements of a 1973 decree of the Holy See. Foith In the Future Thls repre5ent5 monles ralsed under the folth In the Future fundralslng Inltlatlve as yet unallocated, or to fund the costs of the fundraising function. and fund5 raised in pursuit of the atms of the Faith in the Future initiative and dlstributed to other parts of the Church or partners in the mission of the Catholic Church. 36
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED ai OECEMBER 2020 12. RESTRICTED FUNDS Icontlnuedl Home Mi55Non To collect and distribute funds for the Catholic A8ency to Support Evangeli5ation. This is largely funded from the Home Mlssion Sunday Collectlon and other donatlons. The trustees allocate resources from genèral funds to meet the requirements of this priority area for the Bishop5' Conference. Notionol Officefor Vocotlon The Natlonal Office lor Vocation was establlshed In 2002 wlth a two.fold remlt- to develop the Vatlcan11 understandin8 of vocation in the Church and to promote partlcular vocations especially priesthood. The Tiustees allocate resources from general funds to meet the budget requirements of thi5 priority area for the 8lshops' Conference. Internshlps In 2002, the Cathollc Parllamentary Internshlp Programme was created to enablè graduates to be placed, each year, wlth Christian MPS at Westminster. The prograrnme INclude5 part tlme study at St Mary'5 Urtiverslty. exposure to the work of the Catholle Church at natlonal and Internatlonal level and regular spiritual guldance. Funding lor thls programme is onè of the element5 of the Trust's fundralsing pollcy. The pro8ramme has been expanded to 8raduates being placed both wlth MPS In Brussels, and executlve staff wlthln other agencles of the Blshop5' Conference. Sofeguordlng 0$ Miftistry Thi5 represents a fund used to support work on the productlon of a Care pathway for vl¢tims whlch responds appropr13tely and sensltlvely to thelT needs. Genenil Secretary's risk manogementfund ThSs lund represents a grant 8iven to establlsh a fund to support all aspects ol risk mana8ement, as Judged by the Presldent of the 8lshops' Conference and the General Seeretafy. Ecumeni¢ol Instrumeftts To recelve Diocesan contribytions to the subscrlptlons made, on behalf of the Cathollc Church In England and Wales, to the Ecumenlcal Instruments In Britaln and Ireland. Cotholic Educotion Service Thls fund represents the assets and Ilabilities transferred to CaTEW on the wlndlng up of the Cathollc Educatlon Servlce In ¢lvil law. The Aesolutlon of Transfer stated that the assets and liabllltles transferred were to be Restricted Funds, and used for educational purposes. St Foustlnu Fund Thls rèpresènts a donatlon recelved whlch enables small 8rants to be made at a lo¢al parlsh level to support, enable, and en¢ourage evan8elisatlon Dutreach projects. Holy Lund Coordlnotion Annually, The 8i5hops' Conference of England and Wales with the support of CCEE organlses a delegation of blshops from Europe, North Amerlca and south Africa (called Holy Land Co-ordlnatlonl and undertakes a visit to the Holy Land to witness to the Church's concern for the Chrlstlan communities and the Assembly of Catholic bishops in the Holy Land. SL7ntt7 Marto Group Followlng Inltlatlves by the Catholic Bishops, Conferènce for England and Wales ICBCEWI, the Santa Marta Group was developed by the CBCEW and first met in Rome during April 2014 when pollce chiefs and Catholic bishops came together, In the presence of Pope Francis, to sign an historic declaration committing themselves to a partnershlp to eliminate human trafflcklng. Named after the home of Pope Francis, irb which the members stayed, the Group now has members in over 30 countrles. Through a series of conferences the Bishops, Conference has brou8ht tO8etherthe heads of national and international police and law enforcement agencies along with International or8ani5ations to look at how they can work with the Church to help victim5. 37
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAft ENDED 31 DECEMBER 2020 12. RESTRICTED FUNDS Icontlnuedl Protectir>g Catholic Heritoge This fund represents Income recelved and expendlture Incurred to support the work of the ProtectinB Catholic Herltage Support Officer role. Thls role was established to help church bodles develop thelr capaclty and to assist them in obtaining grant lundlng available for historic churches. Cotholic Councilfor the Independent Inquiry into Child SexuolAbuse ICCIICSA) Thls fund represents support to ihe Chur¢h's response to the Independent Inqulry on Child Sexual Abuse, being chaired by Prof Alex Jay. At the balance sheet date the fund was In defi¢lt, however, contributlons were received from the Dloceses of England and Wales after the year end which offset this defitlt. Cathollc Students Trust Thls fund represents monles transferred on the wlndlng up of the Cathollc Students Trust of England and Wales Ireglstered ¢harlty number 3287051. It had been agreed that these fund5 wouI(J be held 'to advance reli8ion amon8 and the education of Christlan students In establishments of hi8her education in England and Walès and In particular such of them a5 are Roman Cathollc,. Cothollc Enqulry Olflce This fund ha5 been established for those donations and legacies gifted to what Wa5 the Catholic Enqulry Office. Such donations will be used to support and resource Cathollc communltles & Indlvldua15 In England & Walès to pioclalm the Gospel, In Ilne wlth objectives of the Cathollc Enqulry Office. Rocialjustice Sundoy Each year, the Cathollc Church In England and Wales celebrates Raclal lustlce Sunday ènd a naticsnal ¢ollectlon Is taken, the proceeds of whlch wlll be used to raisè awareness of the responslblllty of the church to eradlcate raclal dls¢rSmlnatlon In all Its forms wlthln the church and wlder soclety. Celebrotlng Fomily Fund Th15 fund represents donatlons made to support both Dlocesan prolects and to develop Internal capaclty to support the pastoral care ol Marria8e and Famlly Llfe. EnvironmentAdvisory Group This fund fepresents ihe fundlng of a Project Manager to support the Envlronmental Advisory Group, whose PUfPOse Is to gather Informatlon and provlde a practlcal response to Laudato 51 whlch can be adopted by dloceses, parlshe5 and s¢hools, LeqalAdvi5er This fund represents the fundlng of a Legal Advlser to support the Church's response to the Independent Inquiry into Chlld Sexual Abuse. The God who Speoks The God who Speaks inltlatlve 15 to encourage Cathollcs In every dSoce5e to be wlll be Inspired to meet Chrlst In the Scriptures In creatlve and dynamlc way. The wlsh is to enable these encounters and help achieve transformatlon in the faith and1Sfe of tht Church, and in the public arena throu8h evangelisation, education, creatlve arts and social action. Cotholic Fundfor Choploins in Higher Educotion Thls fund represents the assets and liabilities transferred from the Cathollc Fund for Chaplalns In Hlgher Education, on wind-up of the charity. The funds are to be used for the purposes of supporting Higher Education Chaplainty In England and Wales. 38
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontinuedl FOR THE YEAR ENDED 31 DECEMBER 2020 12. RESTRICTED FUNDS Icontinuedl Historic Englond Grants The Patrimony Committee secured a £3m allo¢ation from Historic England's £34m Grantsfor Prograrnmes of Malorworks for Grade l or Grade Il. Ilsted buildings. This grant scheme was specifically for natlonal bodles and 50 an application was made through CaTEW lor dlstribution to individual diocesan projects under a rlgorous appllcatlon process. Moter Etclesiae College Mater Eccle51ae College comprlses ihe Ecclesla5tltal Faculties of Theolo8y and Philosophy formerly operating wlthin Heythrop College which were transferred to St Mary's Unlver51ty by a Decree of the Holy See in 2019. It provldes teachin8 of courses leading to the conferment of Ecclesiastical Degree5, normally in conjunctlon with course5 at the Unlverslty leading to the ¢onferrnent of the equivalent Clvll Degree by the UnSversity. The College Is open to lay and ecclesiastical students, and Is currentty attended by semlnarian5 from two particlpating seminarles. other Restrlcted Funds Other restricted funds consist of donations and other ¢ontrlbullons for specific PUTPOSes Other than those Ilsted above. Subsidiory Restrlcted Funds Subsidiary restricted funds represents funds restrlcted speclflcally to the Wa151n8ham Tfust. 39
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THEYEAR ENDED 31 DECEMBER 2020 13. DESIGNATED FUNDS Balance at l January 2020 Balance at 31 December 2020 Intomel Galns Transfersl Empendlture Group & Charlty Tanglble flxed assets fund Programme related investment fund Education fund strategic Investment fund Subsidlary designated funds 4,044,997 2,908,450 191,1541 6,862,293 1.172.416 383,674 28,813,908 1,500,504 112,OCQI 1,160,416 383,674 28,813,908 3,?,203 2,528,048 1328.3491 35,91S,499 5,436,498 1431,5031 40,920,494 The tanglblè Ilxed assets fund represents the net book value of the charlty's tan8lble fSxed assets held as part of the unrestricted funds. Thls fund Is separated Irom thè general fund of the charSty In rècognltion of the fact that the tangible flxed assets are essentlal to the day to day work of the chaflty and as they ale not Te8arded as r*alisable wlth ease In order to meet contln8encles. The programme related investments fund represents the value of pro8ramme related Investments. This fund Is separated from the general funds of the charlty In recognltlon that they are not reallsable wlth ease at thelf carrying value. The Education Fund represents funds set aslde lor new Snltlatlves and project work as requlred by the Cathollc Educatlon Servlce. followln8 the transfer of assets and Ilabillties ol this organlsatlon into CaTEW. Movements on the fund durlng the year represent the difference between the levy charged to the Dioceses In respect of the work carrled out by the CES, and the stafflng and operatlonal costs Incurred In pursuit of the objectives of the CES lintludlng galns and losses on Investments). The Strateglc Investment Fund represents money Invested to generate an on80inB income stream to In order to sustain the core work and activltles of the Charlty. The Blshops have decreed that the capltal amount should be preserved and not expended. Movements on the fund durlng the year represent unrestil¢ted galns and lossès on the varlous investment portfollos held by the Charlty. Subsldiary designated funds represents funds specifl¢ally desi8nated by the Tfustees of the Walsln8ham Trust. 14. ALLOCATION OF NET ASSETS Totsl 31 December 2020 Group Flxed Assets Current A55ets Current Llabllltles In¥estments Restricted Funds Deslgnated Fund5 Non Charitable tradin8 funds General FLtnds 3,716,757 10,614,933 29,949.324 44.484 4,867,109 436,678 8,103,478 1,110,732 13,267,929) 180,4411 14,701,586) 11,067,068) 5,315,937 40,920,494 3,446,376 1,953.969 1,910,305 Totsl Net A55ets 10,659,417 35,576,386 14,517.997 19,117,024) 51,636.776 40
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS ICont5nuedl FOR THE YEAR ENDED 31 DECEMBER 2020 15. TRADING SUBSIDIARIES During the period the Trust had four active subsidlary companies incorporated in England and Wales, Colloquium ICaTEWI Limited (company no.. 047350811, CBCEW Events Limited (company no.. 108350061, Catholic Insurance 5ervlce Llmited Icompany no.. 044934031,. and Walslngham Trust Icompany no.. 11655451, re8i5tered charitv number.. 11806901. The result5 and assets and IlabllltSes of the above companles are reported within the financlal statements. A summary of the companies, tfading results and balance Sheet Is set out below.. ColloquSum CaTEW Llmlted Consolld•t*d Proflt and Loss Acfount 2020 2019 TURNOVER Cost of sales 33,552 153,4SOI 20,644 GROSS PROFIT AdminSstTative expenses 119,8981 13,1091 20,644 12,9201 123,0071 120,5731 17,724 120,6821 Amount glfted to the Charltv PROFIT AFfÉR TAXATION 143,5801 12,9581 Reserves brou8ht forward 30,656 33,614 RESERVES CARRIED FORWARD 12,924 30,656 2020 2019 Balance She•t CURRENT ASSETS Debtors Cash at bank and In hand I6,7 5,570 34,572 33,235 21,577 19,5011 67,807 112,1511 CREDITORS: Amounts falllng due wlthln one year NET CURRENT ASSETS 12,076 55,656 NET ASSETS 12,076 55,656 Share capital Reserves 25,000 112,9241 25,000 30,656 SHAREHOLDERS. FUNDS 12,076 55.656
CATHOLICTRVST FOR ENGLANDAND WALES NOTES TO THE ACCOUNTS Icontlnu•d) FOR THE YEAR ENDED 31 DECEMBER 2020 15. TRADING SU8SIOIARIES Icontlnuedl CBCEW Events Llmlted Con5011dated Prollt and Loss Account 2020 2019 TURNOVER Cost of sales 1,226 GROSS PROFIT Admlnlstratlve expenses 1,226 149,9231 13.0371 13,0371 148,6971 Amount glfted to the Charltv LOSS AER TAXATION Reserves brought forward 13,0371 13,0781 148.6971 45,619 RESERVES CARRIED FORWARD 16,1151 13,0781 2020 2019 Balance Sheet CURRENT ASSETS Debtors Cash at bank and In hand 1,826 43.481 43,388 45,306 151,4211 43,488 146,5661 CREOITORS: Amount5 fallln8 du• wlthln onè ye•r NET CURRENT AssEfsiiLIA8ILITIESI 16,1151 13,0781 NET ASSETSII LIA81LITIESI 16,1151 13,0781 Share capltal Reserves 16,1161 13,0791 SHAREHOLDERS, FUNDS 16,1151 13,0781 42
CATHOLICTRUST FOR ENGLANDAND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THEYEAR ENDED 31 OECEMBER 2020 15. TRAOING SUBSIOIARIES l¢ontlnuedl Cathollc Insurance S•rvlc• LSmlt•d Profft •nd Lom A¢¢ount 2020 2019 TURNOVER EXPENDITURE 928,690 1764,8541 1,114,496 1936.8511 PROFITIILOSSI AFTER TAXATION 163,836 177,645 RESERVES BROUGHT FORWARDnRANSFERRED INTO THE TRUST 3,301,580 3,123,935 RESERVES CARRIED FORWARD 3,465,416 3,301,580 2020 2019 Balanc• Sh••t TANGIBLE FIXED ASSETS CURRENT ASSETS Debtor5 Cash at bank and In hand 44,484 60,439 4,443,293 3,618,302 205,844 7,673,453 ,061,595 14,640,663) 7,879,297 14,638,156) CREDITORS,. Amounts lalllni due wlihln ghe year NET CURAENT ASSETS 3,420,932 3,241,141 NET ASSETS 3,465.416 3,301,580 Share Capltal Reseryes io 3,465,406 io 3.301,570 SHAREHOLDERS, FUNDS 3,465,416 3,301,580 43
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2020 15. TRADING SUBSIDIARIES lcontlnuedl Walslngham Trust Summary Income and Expendlture Account 2020 2019 INCOME EXPENDITURE 4,170,998 11,976,679 1,815.720 12,336.1791 SURPLusIIDEFlCln 2,194,319 1520.4591 RESERVES BROUGHT FORWARDITRANSFERRED INTO THE TRUST 1,413,491 1,933,950 RESERVES CARRIED FORWARD 3,607,810 1,413,491 2020 2019 Balan¢e Sheet TANGIBLE FIXED ASSETS CURRENT ASSETS Stock Debtors Cash at bank and In hand 3,752,640 1,603,928 60.988 14S,329 253,806 63,344 58,978 86,746 460,123 1604,9531 209,068 1399,5051 CREDITORS: Amounts IAllln8 due wSthln one y•ar NET CURREP4T LIABILITIES 1144,8301 1190,4371 NET ASSETS 3,607,810 1,413,491 Restricted funds General funds Designated fund5 14,0221 188,371 3,700,203 6.218 193,2311 1,500,504 RESERVES 3,607,810 1,413,491 44
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icont5nuedl FOR THE YEAR ENDEO 31 DECEMBER 2020 16. DETAILED ANALYSIS OF COMPARATIVE FIGURES DONATIONS AND LEGACIES Unrestrlcted Funds 2019 Rèstrlcted Funds 2019 Total 2019 Donations Le8acies Grants recelvable 543,372 108,138 2,240,834 151,978 200,000 2,784,206 260,116 200.000 651.510 2,592,812 3,244,322 DIOCESAN ASSESSMENTS Unrestrfcted Funds 2019 Restrlcted Funds 2019 Total 2019 Arundel and Bdghton Blrmlngharn Brentwood 89,562 153,817 81,752 34,025 58,871 33,392 32,673 112.865 55,137 68,092 200,282 S,167 41,263 51,893 72,013 45,610 84,043 126,121 79,727 148,897 261,511 6,918 3,275 1,965 47,166 81,005 43,053 17,918 31,004 17,585 17,207 59,438 29,037 35,859 IOS,474 2,721 21.731 27,329 37,924 24,020 44,259 66,419 41,987 78,413 137,720 3,643 1,725 1,035 136,728 234.822 124,805 51.943 89,875 50,977 49,880 172,303 84,174 103,951 305,756 7,888 62,994 79,222 109,937 69.630 128,302 192,540 121.714 227,310 399.231 10,561 5,000 3,000 Clifton Eè5t Anglia Hallèrn Hexharn and Newcastle Lancaster Leeds Llverpool Menevla Mlddlesbrou8h Northampton Nottingham Plymouth Portsmouth Salfurd Shrew5bury Southwark Westmlnster Wrexham Contrlbutlon from 8ishoprk of the Forces Contribution from Syro Malabar 1,848.871 973,672 2,822,543 45
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2020 16. OETAILED ANALYSIS OF COMPARATIVE FIGURES CHARITABLE ACTIVITIES Unre5trlcted Funds 2019 Restrlcted Funds 2019 Tot?1 2019 Conferencln8 Income Subsidiary ¢h¥ritable actlvitle5 55,211 992,439 118,6SI 156.960 173,862 1,149,399 1,047,650 275,611 1,323,261 INVESTMENT INCOME Unrestrl¢ted Funds 2019 Restrlcted Fund5 1019 Total 2019 Arlsln8 on quoted Inve5tmentS'. Dividends Flxed Interest 57S,696 164,904 69,399 11,355 645,095 176,259 740,600 51,000 10,427 80,754 821,354 51,000 10,690 Rental In¢ome Rental Income from Investment propertles Bank Interest 263 802,027 81.017 883,044 OTHER INCOME Unre5trlcted Funds 2019 ftestrlcted Funds 2019 Totsl 2019 Other income 45,537 257,C¥)9 302,546 45,537 257.1x19 302,546 46
n o ¢* w ¢Th ) w Ln Lu
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS {Continuedl FOR THEYEAR ENDED 31 DECEMBER 2019 16. DETAILED ANALYSIS OF COMPARATIVE FIGURES ICONTINUEDI ALLOCATED SUPPORT COSTS Chirltable actlvttles Totsl 2019 Funds staff costs Premi5e5 Costs Other costs 403,667 492,759 214,427 2,015 10,740 1.237 405,682 503,499 215,664 Pro rata ba51s Head count Pro rata basls 1,110,853 13,992 1,124,845 Support costs have been dlrectly charged to the relevant actlvlty on the basls of use. 2019 Support Costs Include.. Audltorfs remuneratlon Audlt Other servlces 17,850 48
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED31 DECEMBER 2020 16. DETAILED ANALYSIS OF COMPARATIVE FIGURES ICONTINUEDI ANALYSIS OF GRANT MAKING AcfiviTIES Unrestrlcted Funds 2019 Restrlcted Funds 2019 Total 2019 National Board of CatholSc Women Joel's Bar National Conference of Prlests National Council Lay A550Clatlon Carltas Soclal Action Network Llsbonlan Society The Crew Trust Walslngham Trust Parliamentary Interns 10,000 10.000 7,000 90,000 4,500 7,000 90,0 4,5CQ 200,000 200,000 34,502 34,502 Doyfor Lift Anscombe Bloethlcs Centre Other 8rants awarded loo,000 185,719 iOO,OLXJ 185,719 Celebrt7ting Famlly Fund 9ronts Diocese of Northarnpton Diocese of Blrmingham Dloce5e of Brentwood Dlocese of Cllfton Diocese ol East AnglSa Diocese ol Portsmouth Dlocese of Hexham and Newcastle Dlocesè of Leeds Dlocese of Liverpool Dlocese of Salford Dl¢tese of Arundel and Brighton 12,500 12,500 Priest5, Trolnino ond Formotion qronts Ordlnariate ol Our Lady of Walsin8ham Diocese of East An8lia Ditscese of Cardlff Dlocese of Hexham and Newcastle Diocese of Hallam Dloce5e of Lan¢aster Dlocese of Leeds Diocese of Menevla Diocese of Wrexham 35,000 20,000 25,000 35,000 20,000 25,000 20,000 50,IJOO 20,0 io,(rfJo 20,000 50,000 20,000 io,ocrf) GrL7ntsAmm rhe St Faustin¢7 Fynd Home Mi55ionAieldworkergrant to Dloceseof Cardiff Chur¢hes Legislation Advi50ry Service CCEE COMECE 20,500 11,362 15,545 20,500 11.362 15,545 358,gD7 512,721 871,628 49
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2020 16. DEfAILED ANALYSIS OF COMPARATIVE FIGURES ICONTINUEDI RESTRICTED FUNDS Balance •t l January 1019 Movement On Investments Balance at 31 December 2019 Group & Charlty Income Expendlture Transfer5 Cathollc Youth Reserve Diocesan Reserve Day for Life Priests Trainln8 fund Prlson Chaplalncy Religious Rcstructurin8 project World Communlcatlons Dav Safeguardlng Re5erye Relics of St Therese 6,586 100,173 279,279 928 20,616 200 6.784 100,173 444,417 20,928 33,813 484.202 200,000 61,244 309,S64 180.000 48,047 19,5001 461 8,324 2,854 446 461 297,378 114,169 337,638 372,587 31,936 258,928 3.364 446 Natlonal Catholl¢ $8fe8L*ardln8 CommlssSon Llsbon fund Falth In the Future Home Mlsslon 23,092 355,942 491,452 643.860 64,050 69,725 34,221 37,174 186,590 17,417 321,721 443,667 763,127 143,927 305,857 1154,5381 National Office for Vocatlon 18,684 22,313 62,161 121,628 43,477 99,315 Intern5hlps Safe8uardln8 as Mlnlstrv General Se¢retary's rlsk mana8ement fund Ecumenlcal Instruments 2,205 2,205 186.219 5,000 47,117 99,000 139,102 94,000 Cathollc Educatlon Servlce 2,004,147 1,126,223 16,938 20,086 145.389 87,206 1,134,400 117,5001 516,635 2,495.105 16,938 21,420 131,685 79,855 St Faustlna Fund Holy Land Coordinatlon Santa Marta Group Protecting Cathollc Herltage Cathollc Councll for the Independent Inqulry Into Chlld Sexual Abuse ICCIICSAI 12,211 77,970 30,000 10.877 101,174 37,351 9,500 94,135 88,547 190,663 151,178 72,144 720,623 976,115 1161,3571 88.547 332.641 255.312 51.562 Cathollc Students Trust Cathollt EnquSry Office Raclal justice Sunday Celebrating Family Fund Environment Advisory Group Legal Advlser The God who Speaks Catholic Fund for Chaplains In Hlgher Education Othèr restricted funds Subsidiary restricted funds 151.978 119,279 4,555 io,D(x) 15,145 25,137 6,485 61,497 35.731 26,565 2,047 29,246 34,932 21,803 23,850 350,211 350,211 1,577 6.218 1.577 201,408 240.092 44.902 5,067,429 4,180,121 4,520,088 779,977 516,635 6,024,074 50
CATHOLIC TRUST FOR ENGLAND AND WALES NOTES TO THE ACCOUNTS Icontlnuedl FOR THE YEAR ENDED 31 DECEMBER 2020 16. DETAILED ANALYSIS OF COMPARATIVE FIGURES ICONTINUEDI DESIGNATED FUNDS Balance at l January 2019 Balance at 31 December 2019 Incomel Galns Transfersl Expendlture Group & Charlty TanBlble fixed assets fund Programme related investment fund Educatlon fund Strategic Investment fund Subsidiary designated lulld5 4,090,506 16,105 161,6141 4,044,997 1,184.416 383,674 24,507,621 112,tsxJI 1,172,416 383,674 28,813,908 1,500,504 4,306,287 1,841,821 1341,3171 30,166,217 6,164,213 1414.9311 35,915,499 51