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2022-07-31-accounts

Page
Report ofthe Trustees
independent Report ofthe Auditor 14
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cash Flows 19
Notes forming part ofthe Financial Statements 20

Sub-committee membershi
The Most Rev BLon le MA STL F, LCG
Rt Rev D McGou
h LSS		 STL
Mr B Basford AFM¹ resi ned 16Februa 2023
Mr T Fenwick H4
Mr A Grant FRICS DL I, Pili
Mr P Hor an KSG FCA AFM, Rile, P
Mrs J Mellor BA PGCE IVIA(Ed) MA F (appointed 16February 2023)
Mrs C O' Brien BA LCGiII, P
Mr BO'Driscoll R a ointed 16Februa 2023
Rev Mr D Palmer FCA III', AFM, R
Mr M Swinburne
BA FCA		 I, AFM, R
Rev R Walker LLBSTL F4, LCG

forthe ear ended31
Jul
2022
2022 2021
Total Total
funds funds
Note E'000 E'000
Income from:
Donations
and legacies
Investments		 55
907		 67
797
Charitable
activities		 1,961 1,702
Grants receivable 22 30
Total income 2,945 2,596
Expenditure
on:
Raising funds
Charitable
activities		 114
2,924		 107
2,793
Total expenditure 3,038 2,900
Other recognised
(Losses) Igains on		 gains and
investment		 losses
assets		 14 (2,637) 5,611
Net movement
in
for the period		 funds being net (expenditure) Iincome (2,730) 5,307
Reconciliation
of		 funds
Total funds brought forward 49,985 44,678
Total funds carried forward 17 47,255 49,985

as at 31July 2022
Note 2022 2021
R'000 K'000 K'000 f'000
Fixed assets
Tangible assets
Heritage assets
Investments		 13(a)
13(b)
14		 13,496
825
32556		 13,484
825
35 122
46,877 49,431
Current assets
Debtors
Cash at bank		 and in hand 15 119
408		 185
510
527 695
Liabilities
Creditors: amounts
one year		 falling due within 16 149 141
Net current assets 378 554
Total net assets 47,255 49,985
Unrestricted funds
Designated
General		 17
17		 30,067
17,188		 33,611
16,374
47,255 49,985
STATEMENT OF CASH FLOWS STATEMENT OF CASH FLOWS STATEMENT OF CASH FLOWS
for the year ended 31 July 2022
Note 2022 2021
R'000 K'000
Net cash used in operating activities 21 (832) (1,170)
Net cash provided
by investing		 activities 22 730 1,183
Change in cash and cash equivalents in the reporting period (102) 13
Net movement.
in cash
Cash and cash equivalents at beginning of period 510 497
Cash and cash equivalents at end of period 408 510



estimated
residual
value, ofeach asse		 t over its e xpected
useful
life as follows:
Motor vehicles 25% per annum
on cost
Fixtures, fittings and equipment 10%and 20% per annum
on		 cost
Computer
equipment		 33 1/3% per annum
on cost
Cemetery
improvements		 62/3% per annum
on cost
Biomass heating
project		 5% per annum
on cost
The Land and Buildings ofthe College are shown in the Balance Sheet at a depreciated replacement
cost being the current cost of replacing an asset with its modern
equivalent
asset, less		 deductions for
physical
deterioration
and all relevant		 forms ofobsolescence
and optimisation.

Net outgo in g
resources
2022 2021
K'000 R'000
These are stated after charging the following:
Depreciation 95 80
Auditor's remuneration 14 9
Donations and legacies
2022 2021
f'000 E'000
Legacy 53 62
Other donations 2 5
55 67
Investment income 2022 2021
K'000 K'000
Dividends 881 761
Rents 26 36
907 797

5 Incoming resources from Incoming resources from charitable activities 2022
R'000		 2021
f'000
Student formation 1,380 1,164
Cemetery 314 318
College Site 260 218
Propagation ofthe Roman Catholic Faith 7 2
1,961 1,702
6 Grants receivable 2022 2021
F'000 K'000
Coronavirus Job Retention Scheme 30
Kickstart 22
22 30
7 Governance costs 2022 2021
K'000 f.'000
Auditor's
remuneration		 14 9
Professional advice/Support costs 1 10
19

8 Expenditure
on ch		 aritabl e
activi		 ties
Propagation
Student Cemetery College of Roman 2022 2021
Formation
&Grounds		 site Catholic faith Total Total
f.'000 K'000 E'000 K'000 E'000 E'000
Employee costs 282 175 287 24 768 760
Maintenance/building/grounds 71 411 482 560
costs
Lecturers/materials 316 317 282
Utilities & insurance 180 180 187
Depreciation 19 76 95 80
Museum
and Heritage costs		 54 54 64
Exams / Course Validation 67 67 44
Vehicle costs 29 29 33
Staff travel
&training		 21 9 12 42 28
Library Books, periodicals 23 23 24
Health
&Safety / Welfare		 30 34 22
Chapel
/ Organ costs		 32 32 19
Pilgrimages
and retreats		 42 42 9
Other costs 2 2 1 5 7
815 306 969 80 2,170 2,119
Support costs (Note 9) 581 49 100 24 754 674
Total 1,396 355 1,069 104 2,924 2,793
2021 1,247 356 1,079 111 2,793
9 Support costs Kitchen & Total Total
Administrative domestic 2022 2021
R'000 R'000 f'000 K'000
Employee costs 158 324 482 454
Provisions/catering supplies 135 135 110
Cleaning,
kitchen and laundry		 35 35 28
Training
&welfare		 7 8 15 19
Governance
(Note 7)		 15 15 19
Computer
support /licences		 24 24 18
Stationery,
photocopying,		 postage and printing 16 16 16
Professional
fees		 22 28 9
Sundries 2 4 1
Total 244 510 754 674
2021 217 457 674

Employee costs and numbers Employee costs and numbers 2022 2021
K'000 K'000
Salaries, wages and related costs 1,034 1,003
Social security costs 96 89
Pension costs 120 122
1,250 1,214
The average number offull-time equivalent employees during the year
was: 2022 2021
No. No.
Domestic 8 Manual 27 26
Administration 3 3
Educational and Heritage 8 9
38 38

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14 Fixed asset investments 2022 2021
E"000 K'000
Quoted investments
Market value at beginning of period 33,988 27,352
Additions 3,216 3,998
Disposals
Net unrealised
investment		 (losses)/gains (3,706)
(3,496)		 (2,923)
4,710
Realised gains on disposals 859 851
Market value at end of period 30,861 33,988
Cash held by Investment managers 1,058 475
31,919 34,463
Quoted
investments
historical cost at 31 July 2022		 24,347 23,951

E1 share.
T
he company was incorporated
on 9 April 20		 10 and has been dormant
since inc		 orporation.
2022 2021
f.'000 K'000
Freehold
Property
investments
Grove House, Sutton Coldfield
Market value at 1 August 2021 575 550
Revaluation —unrealised
gain		 25
Market value at 31 July 2022 575 575
Freehold Ground Leases Freehold Ground Leases 2022 2021
f'000 R'000
Market value at 1 August 2021 84 59
Revaluation —unrealised
gain		 25
Disposal (22)
Market value at 31 July 2022 62 84

14 Fixed as Fixed as set investm set investm ents
(continued)		 ents
(continued)		 ents
(continued)		 ents
(continued)
Summary of Fixed asset investments
2022 2021
f'000 K'000
Quoted investments (including cash) 31,919 34,463
Freehold Property investments 575 575
Freehold Ground Leases 62 84
32,556 35,122
Summary of(losses)/gains on investment assets
Quoted investments —unrealised (losses)/gains (3,496) 4,710
Quoted investments —realised gains 859 851
Freehold ground leases —unrealised
gains		 25
Freehold property investments —unrealised gains 25
(2,637) 5,611
15 Debtors: amounts due within one year 2022 2021
R'000 K'000
Debtors 37 50
Prepayments
and		 accrued income 80 133
Sundry other receivables 2 2
119 185
16 Creditors: amounts due within one year
2022 2021
R'000 E'000
Creditors 84 74
Taxation and social security 26 22
Accruals 39 45
149 141

Year ended 31 Ju l
2022
17 Unrestricted
funds
Current year 31July
2021		 Incoming
resources		 Outgoing
resources		 Recognised
(losses)/gains		 Transfers 31July
2022
K'QQQ K'QQQ K'QQO F'QQQ F QQQ K QQQ
Designated
funds
Investment
revaluation		 Fund 10,696 (3,545) 7,151
Heritage assets revaluation
Fund 825 825
Land and buildings
revaluation
fund		 13,124 (23) 13,101
College maintenance
Fund 5,000 (411) 411 5,000
Cemetery
Fund		 maintenance 3,900 (32) 56 3,924
Museum Fund 66 66
33,611 (466) (3,545) 467 30,067
General funds 16,374 2,945 (2,572) 908 (467) 17,188
Total 49,985 2,945 (3,038) (2,637) 47,255
Prior year 31July
2020		 incoming
resources		 Outgoing
resources		 Recognised
(losses)/gains		 Transfers 31July
2021
R'000 R'000 F'000 K000 F000 R000
Designated
funds
Investment
revaluation		 Fund 5,937 4,759 10,696
Heritage assets revaluation
Fund 825 825
Land and buildings
revaluation
fund		 13,147 (23) 13,124
College maintenance
Fund 5,000 (455) 455 5,000
Cemetery
Fund		 maintenance 3,836 (48) 112 3,900
Museum Fund 69 (3) 66
28,814 (529) 4,759 567 33,611
General funds 15,864 2,596 (2,371) 852 (567) 16,374
Total 44,678 2,596 (2,900) 5,611 49,985

20 Commitments
under operating
l		 Commitments
under operating
l		 eases eases
The charity has the following
annual		 commitments under non-cancellable operating
leases.
2022 2021
R'000 K'000
Non-cancellable
operating
leases		 2
21 Reconciliation
ofnet expenditure		 to net cash flow from operating activities
2022 2021
K'000 E'000
Net income for the reporting
period		 (before gains on investment assets) (93) (304)
Profit on Disposals (1)
Depreciation
charge		 95 80
Investment
income receivable		 (907) (797)
Decrease
/ (increase)
in debtors		 66 (75)
Increase
/ (decrease)
in creditors		 8 (74)
Net cashflow used
in operating
activities		 (832) (1,170)
22 Net cash provided
by investing		 activities 2022
K'000		 2021
R'000
Investment
income received		 907 797
Purchase oftangible
fixed assets		 (108) (18)
Proceeds from sale offixed assets 2
Purchase of investments
by investment
manager
Sale of investments
by investment
manager		 (3,216)
3,706		 (3,998)
2,923
Sale ofground lease investment 22
(Increase)
/ decrease
in cash held		 by investment manager (583) 1,479
730 1,183