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2022-08-31-accounts

Charity number: 1182947

FORMATIO

CHARITY TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2022

CHARITY REGISTRATION NUMBER 1182947

FORMATIO

CONTENTS

Charity Trustees’ Report ……………………… …………………………………………………………………………………………………….3 Independent Examiner’s Report .......................................................................................................................... 13 Statement of Financial Activities………………………………………….…………………………………………………………………………14 Balance Sheet…………………………………………………………………………………………………………………………………………………15 Notes to the Financial Statements……………….…………………………………………………………………………………………….....16

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Formatio

Charity Trustees’ Report period ended 31 August 2022

Reference and Administrative Details Formatio 3[rd] Annual Report 1 September 2021 – 31 August 2022

Reference and Administrative Details Charity Trustees Bishop Alan Stephen Williams Paul Edward Stephen Barber Catherine Anne Bryan Dr Arthur Naylor Fr Adrian Porter SJ (resigned August 2021) Sr Patricia M Goodstadt IBVM (from April 2023) NW Jane Ann Beever (resigned August 2021) Margaret Sue Cronin Damian Cunningham (from October 2020) Helen O’Neill (from December 2022) Timothy Mark Warren (resigned September 2020) NE Dr Duncan Martin (from September 2021) Angela Mary Cox OBE (resigned August 2021) Peter Giorgio (from October 2021) Professor Margaret Ann House (resigned October 2020) Michael Peter Shorten SW Stephen Bell (from December 2022) Colleen Mary Collett (resigned April 2022) Anne Robertson (from May 2022) Tricia Sterling (from September 2022) SE Dr Jane Chambers (from September 2022) Robert Simpson (resigned August 2022) Peter Sweeney (from September 2022) Anne Marie Whittle (resigned August 2022) Rt Hon Jennifer Nancy Willott OBE (resigned August 2022)

Co opted (from December 2022) Angela Keller Patrick Murden

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Formatio 3[rd] Annual Report 1 September 2021 – 31 August 2022

Sept 2021 Teaching School hub programme begins (87/8 Catholic: 1 NW, 3 NE, 2 SW, 2 SE) ** Nov 2021 1[st] national Catholic CEO/CSEL conference Nov 2021 Formatio SG mtg St Katherine’s – End of summer need to reorganise membership and bring in CMATs Nov – outcome which points to resolution this week Mins/regional reports – momentum/sea change from Nov SG mtg**

CEFEL licensed provider with CES as strategic partner in delivering NPQ suite January 2022 Catholic Academy Trust Training Collaborative (CATtColl) inaugural mtg * June 2022 Formatio second Annual Report and Accounts July 2022 CEFEL/CES MAT Partnership Event, Church House August 2022 HDO SE contract ends

Steering Group meetings 11 Nov 2021 (email 7 Nov) 15 March 2022 (email 12 Mar) 21 June 2022 (email 18 June & 21 June)

CES Management Committee meetings 7 Oct 2021 (27 Sept) 8 March 2022 (email 3 March) 20 May 2022 email

Introduction

The evolution of Formatio

In 2017, following an Education Symposium between the Bishops of England and Wales, Diocesan Schools’ Commissioners, Financial Secretaries and the Catholic Education Service (CES), the Bishops issued a statement reinforcing the importance of the Church’s mission in education. This reaffirmed their commitment to ‘provide a place in a Catholic school for every Catholic child…. and strive to ensure a place for children of parents who seek a Catholic education for their child.’[1] Whilst acknowledging the challenges of the ever-changing educational landscape, the Bishops recognised that, ‘Catholic school leaders and governors play a central role in the spiritual and academic life of their schools. The formation of Catholic school leaders and the exercise of good governance are strategic priorities for Catholic education.’[2] And in order that this is achieved, ‘We ask the Catholic Education Service to develop strategies for leadership and governance that will provide Diocesan Schools’ Commissioners with innovative options for responding to this challenge.’[3] The national strategy for Catholic leadership and governance, Formatio , is the result of this mandate, aiming to form, nourish and sustain Catholic school leaders.

1Bishops’ Statement on Education, Catholic Bishops’ Conference of England and Wales. 30 April 2017

2 Ibid,

3 Ibid.

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With seed funding from the Assumption Legacy Fund to support the appointment of four regional hub officers, the twenty-two dioceses of England and Wales were grouped into four regional hubs to facilitate greater collaboration with one another and also with other key stakeholders: the four Catholic universities and the network of Catholic Teaching Schools. The role of regional hub chair was taken on by one of the Diocesan Schools Commissioners in each region.

Where is Formatio now?

The national strategy has been used by regions to work effectively with their diocesan neighbours, adapt and refine processes that already existed as well as introducing new initiatives. The Formatio Steering Group has worked to successfully unlock huge potential and a wealth of resources, not apparent before; there remains so much more to be developed to maximise this. It has provided the opportunity to bring together what works well in order to enhance the whole range of faith formation and professional development for leadership and governance in Catholic education. The Formatio national strategy empowers dioceses to collaborate regionally to strengthen provision, allow equity of access and maximise opportunity. The hub model is efficient and effective and the increasing use of new technologies has opened the way for more dynamic relationships. The extent of collaborative activity, both regionally and nationally, involving the range of partners working in powerful networks, is outlined elsewhere in this report.

Hub Development Officer (HDO) posts

From September 2021, the North West Catholic Dioceses Training Partnership (NWCDTP) fully funds the HDO. The NW HDO will continue to attend the Formatio Steering Group meetings and collaborate with other HDOs nationally. In the NE, the HDO adjusted her hours during the summer term, which will enable her to continue until the end of the Autumn term 2022. As a result of furlough and other savings, the SE post continued for the academic year 2021/22 and the SW post was extended to end at the same time in August 2022. Initial discussions with regional hub chairs confirmed that the financial impact of COVID-19 meant that dioceses were not in a position to contribute to the costs of these posts at this time.

Achievements and Performance

North West Regional Hub (Dioceses of Lancaster, Liverpool, Salford, Shrewsbury and Wrexham) The five NW Directors of Education completed a review of the Formatio strategy from its launch in 2018 and the progress made in the NW hub against the initial expectations sent out by the Bishops. The NW hub development plan ensures that there is a coordinated and collaborative approach when working with dioceses, Catholic Multi Academy Trusts (CMATs), Teaching School hubs and any other provider contributing to these expectations.

Following the review of the NWCDTP, the Leadership Development Framework remained the main focus for the ongoing formation, nourishment and sustaining of the current and future Catholic leaders across the North West. A prospectus, detailing the programmes available for 2021-22, was produced and recruitment opened in September 2021. Despite the ongoing challenges schools faced post pandemic and concern that this would impact recruitment, all programmes were full, including a new programme for head teachers in the first three years of headship. For each programmes a variety of bespoke options are available including coaching, school visits and spiritual accompaniment.

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The infrastructure and systems that have been developed enable and support the establishment of networks of leaders who have completed the Catholic leadership programmes at all levels so that they continue to be offered on-going formation opportunities.

North East Regional Hub (Dioceses of Hallam, Hexham & Newcastle, Leeds, Middlesbrough, Nottingham)

Following the resignation of Angela Cox, Director of Education, Diocese of Leeds, Peter Giorgio, Director of Education, Diocese of Nottingham, replaced her as NE Hub Chair during the Autumn term.

The diocese of Middlesbrough has created a Leadership Development Group with representatives from each area in the diocese. The Bishop’s programme for Middle Leadership, Senior Leadership and Headship is also being developed to be ready for the Spring term. The Bishop’s Certificate in Catholic Teaching is also available designed to be offered alongside the Early Careers Framework for those in the first few years of teaching.

The National Catholic Leadership Framework is an initiative of the NE hub and has involved a cross hub working group of serving senior leaders in designing and writing the content of the five strands: Vision; Developing People; Developing School; Securing Accountability; Community

South East Regional Hub (Dioceses of Arundel & Brighton, Brentwood, Northampton, Southwark, Westminster)

Meetings continued twice termly with all dioceses in attendance, providing an opportunity to share good practice and discuss local and national developments concerning Catholic school leadership. The dioceses within the SE hub have continued to offer a range of leadership training opportunities aimed at school education leaders (at all levels and including Early Career Teachers) as well as at governance level. The group recognises that this offer varies across the region according to capacity of the dioceses.

Middle level leadership courses have also been offered via school alliances, providing comprehensive preparation for those wishing to apply for leadership positions. The course offered by Agnus Dei Catholic School Alliance has been written to focus on the specific elements that relate to leadership in a Catholic context. This and the Shepherding Talent programme developed by St Mary’s University, enables teachers to develop their leadership skills and deepen their understanding of Catholic education, whilst also supporting their own faith formation. This was delivered in the dioceses of Arundel & Brighton and Southwark during the Spring term.

For the 2021/22 academic year, Cardinal Vaughan Memorial School through St John Southworth Enterprise and Research Alliance, delivered the Aspiring Leaders course using a blended approach to enable wider access.

A day of reflection and spiritual refreshment was offered for aspiring leaders who are already undertaking National Professional Qualifications (mainly NPQSL/NPQH). The day was jointly funded and organised by all SE dioceses and was led by Father Eamonn Mulcahy who reflected on the leadership style of Pope Francis and the vocation of the leader of a Catholic school.

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The SE hub is committed to providing complementary leadership training and support for future leaders of Catholic schools, which includes both a specific Catholic leadership focus and an emphasis on faith formation.

South West Regional Hub (Dioceses of Birmingham, Cardiff, Clifton, Menevia, Plymouth, Portsmouth)

Although meetings in the SW hub were paused for a period due to absence through illness and significant staffing changes across the SW dioceses, work continued towards the identified priorities.

The Leadership Survey initiated by the NW Hub was conducted in each of the SW dioceses in March 2021 and the analysis completed by Birmingham Diocesan Education Service. This highlighted the need for formation for aspiring leaders across the hub to address an ongoing shortage of candidates for leadership posts at all levels. In February 2022, the SW hub met with Sr Judith Russi from EducareM (The National School of Formation) to explore possibilities and propose the following strategy

Grow your own strategy

The pilot Teaching Internship Project was up and running in Portsmouth diocese during the summer term with Year 12 and 13 students on placement in primary and secondary schools in Southampton

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with a final session hosted by the Primary Catholic Partnership SCITT. The second phase will expand to include other partnerships in Portsmouth diocese and a version will be piloted in parishes.

All materials developed and refined during the pilot will be available to download together with an infographic explaining the full 6 year process for schools or dioceses to follow. The materials include a sixth form assembly presentation, poster, flyer, introductory session plan, Teaching Internship Journal for students to use for structured reflection, model letters to students and placement hosts, model EBP work experience checks, a final session plan and a video capturing interviews with a wide variety of current teaching staff talking about their personal vocation in their Catholic school and their chosen route into the profession.

The Internship will continue throughout their professional training and the database of students will be maintained to enable information about support with job applications, practice interviews, paid two week internships out of HE term time and direct notice of vacancies in our schools to be sent directly to interns. As the project continues additional video contributions will be added to the materials available providing a bank of inspirational footage to illustrate why teaching in Catholic schools is a wonderful vocation.

Formatio National Projects

Executive Headship Formation Programme

Although plans were in place for two residentials during the 2021/22 academic year, take up was understandably limited due to COVID and the ongoing situation in schools. The decision was made, therefore, to defer to next academic year when the need will be reviewed.

Collaboration with Catholic universities

As a result of a number of regional hub projects extending nationally, opportunities are opening up to collaborate in a more tangible way with Catholic universities. Liverpool Hope University and Leeds Trinity University are supporting dioceses with the analysis of leadership surveys in order to support a more strategic approach to succession planning. Initial discussions with St Mary’s University (St Mary’s) will explore the possibility of accreditation for the National Catholic Leadership Framework and also for the Catholic leadership formation and development programmes in the NW hub.

The CES has commissioned St Mary’s to undertake a discrete research project to investigate the extent of the problem faced by Catholic secondary schools in recruiting and retaining RE teachers. In addition, St Mary’s will lead a national working party to explore the recruitment and retention of RE teachers for Catholic schools with representatives from Catholic Bishops Conference of England and Wales (CBCEW), CES, Formatio , National Board of Religious Inspectors and Advisers (NBRIA), Association of Teachers of Catholic Religious Education (ATCRE) and Catholic Religious Education Development Opportunities (CREDO), as well as senior school leaders.

Collaboration with Church of England Foundation for Educational Leadership (CEFEL)

As a licensed provider of the reformed suite of National Professional Qualifications (NPQs), the CEFEL/CES partnership organised a series of engagement opportunities for potential delivery partners, Catholic and Church of England schools alike. A good balance and coverage across the country was achieved with over ninety schools involved in the initial response; there will be further entry points for additional schools to join as delivery partners during the next four years.

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The project board continued to meet regularly to provide strategic direction and maintain oversight of the project. The comprehensive marketing plan aimed at potential participants emphasised the unique selling points of the CEFEL/CES: coverage of rural schools, vision driven and evidence-based approach, matched coaching opportunities. Dioceses recognised the uniqueness of this opportunity and encouraged their schools to support staff development by signposting the CEFEL/CES NPQs. The successful outcome enabled around 3,000 eligible staff in Catholic and Church of England schools to access the suite of NPQs which are fully funded.

The first cohort began various NPQs in November 2021 with a second cohort following in February 2022. Over 100 Catholic and Church of England schools are involved as delivery partners with the opportunity for more to be involved in year two. The advocacy work undertaken on behalf of the CES by Diocese of Westminster Academy Trust (DOWAT) staff has resulted in a successful recruitment campaign and improved uptake.

A key area to develop is the curriculum design around the NPQs, the vision driven additionality opportunities. This aims to encompass broader transformational approaches to leadership development, alongside bespoke thinking around how leadership development needs to fit the specific development needs of Catholic and Church of England school contexts. To this end, the CES co-hosted a development day with Catholic and Church of England colleagues in March to design part of this additional curriculum work together, ahead of offering this to the sector in 2022/23 and beyond.

Ongoing discussions took place between CEFEL and CES to explore further opportunities for collaboration in order to strengthen development provision for senior leaders.

Teaching School Hubs Programme

From 1 September 2021, this programme replaced the previous network of around 750 teaching schools, 95 of which were Catholic schools. The teaching school hub programme is part of a comprehensive strategy dedicated to supporting teachers throughout their teaching career and part of the recruitment and retention strategy to raise teacher quality and effectiveness. There are 87 teaching school hubs, of which 8 are Catholic and they will be expected to play a significant role in delivering:

In the delivery of this, there is a significantly heightened role for mentors and high-quality coaching and an urgent need for funded development opportunities for those who take on this role, especially in schools with a religious character.

In addition to the above, as part of the original application criteria for achieving this designation and the three-year funding, teaching school hubs were also required to promote and deliver other highquality, evidence-based professional development to school leaders and teachers; this enabled the eight Catholic Teaching School Hubs to provide a contextualised Catholic offer. This changed, however, in July 2021, and the funding may now only be used to deliver the DfE approved courses;

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funds for any other CPD offer will need to be generated by the Teaching School Hubs themselves. There is a potential risk that this will have a detrimental impact on the Catholic formation opportunities offered by Catholic Teaching School Hubs for staff in Catholic schools.

Formation and professional development for leaders of Catholic Multi Academy Trusts (CMATs)

The first national Catholic Chief Executive Officer/Catholic Senior Executive Leader (CEO/CSEL) conference took place 8-9 November 2021, with a good response, though a number of delegates withdrew at short notice due to the impact of COVID and the Omicron variant which emerged during the autumn term. Feedback was extremely positive with notable comments about the opportunity to meet and engage with colleagues from dioceses across the country and the chance to meet and engage with CES staff at a national level; also highlighted was the pressing need for a national network of Catholic CMAT leaders. Key messages that emerged during the CEO focus groups held regionally last academic year, were reinforced at the November conference and subsequently, and must be kept at the forefront of future planning and developments:

There are currently almost 80 CMATs across the country, ranging in size from 35 schools (12,627 pupils) to those with just 2 or 3 schools and under 1000 pupils with a wide range in between; this is expected to change significantly over the next few years as the number of CMATs increases.

Catholic Academy Trust Training Collaborative (CATtColl)

Following the conference, at least one group of Catholic CEOs have formed a cross diocesan training consortia to facilitate the efficient and effective delivery of major projects, eg NPQs suite, and are considering expanding this to consider the possibility of Initial Teacher Training (ITT) provision. Early discussions with St Mary’s University, CES, and relevant CEOs began to explore the possibility of a joined up approach between CMATs and St Marys University, as the largest Catholic ITT provider.

There is a role for Formatio to facilitate and help to shape these groupings both through the regional hubs and nationally. The CEOs are key Catholic stakeholders with a powerful voice who have access to significant funding, resource, capacity and influence. Under the Formatio umbrella, we are actively trying to find a way to harness this nationally and cement links at CMAT CEO level as well as via the dioceses. The Chair of the Academies Working Party attended the November conference and witnessed the enormous potential among this group of Catholic leaders.

The CES, through the Formatio strategy, has been invited to partner with CSAN and CAFOD, to host a day conference for CMAT CEOs, senior leaders and directors. The day will explore how a Catholic MAT can be faithful to the Church’s vision for education through Catholic Social Teaching and take place during the autumn term.

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National Catholic Leadership Framework

The project is ongoing and within expected timelines. It will provide a senior leadership competency framework with training materials to be used by dioceses with the potential to carry national recognition. The writing group is made up of senior school leaders from NE, SE and SW hubs with a cross hub strategy group of senior school and diocesan staff collaborating to agree process and content.

These resources are being piloted in dioceses across the country and the resources updated following feedback; the final versions will be available for all dioceses to use as they wish. Masters level accreditation is being explored in partnership with HE providers.

Formatio : the second phase

Key to the development of the work outlined above is the inclusion of representative CMATs from the four regional hubs on the Formatio national Steering Group to reflect the changed educational landscape and enable national engagement with CEOs. Regional hubs have been asked to discuss this and the chairs will meet with CES and Bishop Alan Williams to reach an agreement in principle to include CMATs as associate members of the Steering Group. This proposal will then be put to the members for approval before the necessary changes are made to the constitution.

CATtCOLL is well placed to develop a CEO network that works with dioceses, Catholic universities and other key stakeholders to energise the delivery of the Formatio strategy regionally and work with CES to identify national opportunities to form, nourish and sustain Catholic leaders of education. The structure of CATtCOLL needs to reflect the four regional hubs, provide a formal interface with CEFEL as the delivery arm of this partnership, and provide leadership and partnership across the CMATs in relation to NPQs, ITT and CMAT best practice.

Since the future of pioneer schools in Wales is unclear, the Welsh Adviser will continue to be in attendance at Steering Group meetings. The Conference of Religious (COR) representative resigned during the summer term and COR has been approached to suggest an alternative.

In readiness for the challenges and opportunities presented by the rapidly changing educational environment, future strategic priorities for the second phase of Formatio will be discerned by the Steering Group during the Autumn 2022. The One Church vision of making available to all the very best of what we can achieve, through good practice and research in formation and leadership, is at the forefront of this national strategy. It is the responsibility of the Formatio Steering Group to ensure that ways are found to continue to form, nourish and sustain leaders of Catholic education, including governors, whilst this remains a key priority for the Bishops of England and Wales.

Charity Trustees' Responsibilities Statement

The Charity Trustees are responsible for preparing the CIO’s Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Charity Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and application of resources of the CIO for that period. In preparing these financial statements, the Charity Trustees are required to:

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The Charity Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the CIO’s transactions and disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity’s constitution. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report was approved by the Charity Trustees on 30 June 2023 and signed on their behalf by:

___________ Catherine A Bryan, Chair, Formatio Steering Group

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FORMATIO CIO

I report to the trustees on my examination of the accounts of the Formatio CIO (the Trust) for the year to 31 August 2022.

Responsibilities and basis of report

As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

(1)accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

(2)the accounts do not accord with those records; or

(3)the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Name: David Smy

Address: Belvedere House, Granville Road, Bath, BA1 9BB

Date: 27[th] February 2023

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Formatio CIO: Statement of Financial Activities (including Income & Expenditure Account)

For the year ended 31 August 2022

2022 2021
Unrestricted Restricted Total Total
Notes £ £ £ £
INCOME from
Donations and legacies:
Grants 1 - 10,000 10,000 -
Donations 250 - 250 -
----------------- ----------------- ----------------- -----------------
Total income 250 10,000 10,250 -
----------------- ----------------- ----------------- -----------------
EXPENDITURE on
Support costs 250 - 250 264
Charitable activities:
Operational costs of regional 2 - 46,408 46,408 96,543
hubs
---------------- ---------------- ---------------- ----------------
Total expenditure 250 46,408 46,658 96,807
---------------- ---------------- ---------------- ----------------
Net income/(expenditure) - (36,408) (36,408) (96,807)
Funds at 31 August 2021 - 59,739 59,739 168,155
------------------ ------------------ ------------------ ------------------
Funds at 31 August 2022 £- £23,331 £23,331 £71,348
========= ========= ========= =========

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The charity had no recognised gains or losses other than as disclosed in the Statement of Financial Activities for the year ended 31 August 2022.

The accompanying notes form part of these financial statements.

Formatio CIO: Balance Sheet As at 31 August 2022

Notes
CURRENT ASSETS
Cash at bank and in hand
CREDITORS:Amounts falling
due within one year
6
---
NET ASSETS
=
FUNDS AND RESERVES
Unrestricted
Restricted
7
--		 2022
2021
£
£
25,331
71,598
2,000
11,859
------------------
---------------------
£23,331
£59,739
=========
==========
-
-
23,331
59,739
------------------
---------------------
£23,331
£59,739

The accompanying notes form part of these financial statements.

Approved by the Trustees on 2023 and signed on their behalf by

Catherine Bryan Chair of Trustees

Paul Barber Trustee

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FORMATIO CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 AUGUST 2022

ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Formatio CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Assessment of going concern

The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these accounts. The Trustees have made this assessment in respect to a period of one year from the date of approval of these accounts. The Trustees of the charity have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The Trustees are of the opinion that the charity will have sufficient resources to meet all its liabilities as they fall due.

Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can

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be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific artistic projects being undertaken by the charity.

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

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NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE PERIOD ENDED 31 AUGUST 2022

1. GRANTS AND DONATIONS 2022 2021
Unrestricted Restricted Total Total
£ £ £ £
Assumption Legacy Fund - - - -
Sisters of the Holy Cross 10,000 10,000
Donations 250
-		 250 -
------------------ ------------------ ------------------ ------------------
£250 £- £10,250 £-
========= ========= ========= =========
2. EXPENDITURE ON CHARITABLE ACTIVITIES
2022 2022 2022 2021
Unrestricted Restricted Total Total
£ £ £ £
Costs of charitable objectives - 46,408 46,408 96,543
Governance costs (including
Independent Examination fees 250 - 250 264
------------------ ------------------ ------------------ ------------------
£250 £46,408 £46,658 £96,807
========= ========= ========= =========
3. NET INCOME/EXPENDITURE FOR THE YEAR 2022 2021
This is stated after charging: £ £
Independent Examiner’s remuneration
-Examination 100 100
-Accountancy services 150 150
------------------- ------------
£250 £250
========== ======

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NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE PERIOD ENDED 31 AUGUST 2022

4. STAFF COSTS

There were on average 2 (2021: 2) employees during the period and their Remuneration was:

STAFF COSTS
There were on average 2 (2021: 2) employees
Remuneration was:		 during the period and their
2022 2021
£ £
Salaries 27,653 35,526
Social Security Costs 2,279 2,308
Pension 1,274 1,617
----------------- ----------
31,206 39,451
========= ======

5. TAXATION

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable object.

6. CREDITORS: amounts falling due within one year

CREDITORS: amounts falling due within one year
2022 2021
£ £
Accruals and deferred income 2,000 11,859
----------------- ----------------------
--
£2,000 £11,859
========== ==========

7. RESTRICTED FUNDS

Period ended 31 August 2022 Fund balance Income Expenditure Fund balance
At start of At end of
year Year
£ £ £ £
Assumption Legacy Fund 59,739 - 46,408 13,331
Sisters of the Holy Cross - 10,000 - 10,000
---------------------- --------------------- -------------------- --------------------
£59,739 £10,000 £46,408 £23,331
========== ========== ========== ==========

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NOTES TO THE FINANCIAL STATEMENTS (continued)

FOR THE PERIOD ENDED 31 AUGUST 2022

8. ANALYSIS OF NET ASSETS

At 31 August 2022
Unrestricted Restricted Resources
Funds Funds
£ £ £
Current Assets - 25,331 25,331
Current Liabilities - (2,000) (2,000)
---------------------- --------------------- --------------------
£- £23,331 £23,331
========== ========== ==========

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