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|||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|
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|||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||||||
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|||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|
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||||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|
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|
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.||||
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|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|
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|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|
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|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|||
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|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|
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|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|
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|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|
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|||||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|
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|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|