Charrty numb¢r.' 1184835 CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO MEMBERS OF COUNCIL'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO CONTENTS Pagè Reference and adrnAnlstratlve detalls olthe ¢harlty. ils Members of Counell and ad¥ls•rs Members of Council's report Independent audltors. report on It* Iala• stai¢ments 9-12 Statement of financlal actlvitles 13 In¢ome and expeIr• account Balancè sheet 14 15 lotes to the finala1 statthhents 16-35
CAM8RIDGE UNIVERsrrY CATHOLIC ASSOCIATION CIO REFERENCE ANO ADMINK8TRAThIE OETAILS OF THE CHARrrY. ITS MEMBERS OF COUNCIL AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2024 Member5 01 CounL¥I Ex offldo ProfÈsx¥ J Sosktce. Pfestht. Profess C W2rnKk. Treasurer" {untd 26 Novwnber 20231 Professor M J Kelly, Treasvrer Noyefflber 20231 ifrom 26 No¥embr 2023) {ar4)e4nted 20 hlrs A 8rcr•me, Librn¥Jan Mr Wiltram Me¥rKk. Asststsnt Treasu1. Ordlnary members Prolessor H JOY. Serxelwy" [k¢jary membws Mr G BrdWHHn' Dr P Beer [ F Umetzer rkJ &aggater Dr K Williams Df H M IAFf#inted 26 November 20231 Dr K4 P A Lt)y lapprmnted 26 November 2023 K M.J Allen (aprKxnted 26 November 20231 Ptolessor D Oe AryelL% laswnied 26 NovembBr 20231 ' Member of th• Finance Commrtlee Charlty registefed number 1184835 Prlnclpal offlct FBIr H(yJse Gusldhall Slreet Cambndge C82 3NH Ind•pÈndent audltor5 P•ters Elworthy & Mcrfxe ChaMeTed Acthwntants S8h5bury House sts1 Road CambrKlJe CBI 2LA Bankers Balay5 8ank PLC 9.11 Sl Andrews Streel Carnbn¢JJo CB2 3AA Page 1
CAMBRIDGE UNIVERSITY CATHOUC ASSOCIAnON CIO REPORT OF THE COUNCIL FOR THE YEAR ENDED 30 JUNE2024 CaTrIe Uni¥eryty CatholK Associatrffi ICUCA) Counpl of manMent Ireferied to as Tru$teesl present Iheir 8Mual report Iether vAth Ihe [mara01 $latents oflhe clwity lor Ihe year ending 30 ju 2024. The financiol s¢atemen15 comply Mith the clent $talyltyy rqUrnents. Ihe fequiremenls of the charity'5 ooveming document and proWsn5 of Il Stalemenl of ReCended Price ISORPI, awjkable to charities preparmg their acwtmb accordanc¢ wth the FinawK4al Repng Standard applicable Ihe UK and Republic of Ireland IFRS 1021 leffecb've 1 Jarary 20191. OBJECTIVE AND ACTIV IES OUR OBJECTIS The c4"•cts of the As50Ck8tThi. 0$ defined in the Tntst Deed. are.. The promoknn arbd Safeguarding 0fc8trA intwests in ts Ur¥vwty)f Cambrh3e ol a reiigw)us, edatiu andlor charital nalure: The pVIS ol the e55ary accA)moYyJakn lor a CWI.. The hsin9 of Ihe UThv•rW Cakn)k Chaplain.. The maintenwKe ola lknary of CalIK>1 klaralure ofan edlial nats¥e" The Yoldir¥J ol meeltngs Inferen ft¥ Ihe thawnt ol au or any of the above obJ"eets. In $ettiThJ objedives and planThro for athitsÈs. the Meners of C(MJ)cl have given ¢the c4x)sideration Io general yEHdance publtshed by the Charity c(MiSsion to Put4 benefjt. in¢kn1M the guidance 'PlIE ben?fft'. running a charity IP821'. OURAIMS The ains of the Asso(ithn e.' lo Mainta Ihe rfftnises c(xr[wj Ftsher HOU and alning lyikjings to serve Ihe needs of the comnwnily arml thg (4e¢tr¥es of the L8s(Kiakn". lo enable the Chaplaincy at Fisher ouse to prowde generally for Ihe tUty of sIts and residenl senior rnembers ol the Unive¥sty of C8mbndge. lo Ma181n fatilities for Cathohc w£)rsh¢p IhrougtKwt yrar lor m¢mbers tsf the Associab'on and for members of Ihe publiG are k£¥ne to artend serv¢es in Ihe chaFd. to assist in promding resou¥ce$ for the Chaplain's day to day needs., to provide space lor a liiY8ry. The Assooaknn believes that il Satisfies the PU1¢ benefft r•quiremenl mIer Ihe Cknbes Act 2071. ACHIEVEMENTS ANO PERFORMANCE 1. Sp[ loi Iht Chaplai Fr Paul Keane has b¢en Chaplain Ihroughout Ihi¥ aT. his seC(d in post. He has been supported by the Prst Assistant aP1aM Fi Albert ftQbertn smce tyUSt 202J. Th¢ Chaplaw tearn has been Cometed by Assistant Chaplain Sr Ann swal wlb) has seNed us since 201Q. and by M. Henri G¢)defroy, a seminarian of the DC*se of Pans who has been wth us fo¥ Ihks al. This lasl has been very successlul another seminarian will us fr(n Paris lor Ihe new finarla1 5Ear CUCA CIO has provided finanal and administralrve support to ts Chapla5 Ihis pewh)J. Pagè 2
CAMBRIDGE UNIVERSITY CATHOUC ASSOCIATION CIO REPORT OF THE COUNCIL ICONTINUEDI FOR THE YEAR EMOED 30 JUNE 2024 2. BuikliTh The Assotsalion ntinS to tmthnenl its pryawffip ol mainlensrtt and renewal, alongside giving rs1derallon lo lon9er-l•rm. stralegic C&j"te5 The Trustees lake appropriate professional advice conceming all as ol Thten8r 8NI deVelMent. rollinu pro9me of onnual maintenanc£ fulfils the recomMendatnS the asset management plan of 2013 (updated 20191 and include5 the following amual checks: Fersonal aprtsKe testiro. ksiir¥J ol emergerKy IwJhting and fire sounders, ¢leaii)g of gulters. servic4ThJ of sÈ¢unty aarms arKI carneras etc.. rnainteTran ol hea" and hot waler systems. six-monlhly deep deanw as wel as re9aT daty deaning and maHrtenan¢e oversight. In the past year, the most SnIficant work has been a redeco of the thpel and Narthex. ¢awwied out in Augvst 2023. The Assistant ChapPain's room has be redecualed and a toikl adjacent to the nfeSs)al has been converted into a storage Space to preserve Ihe trrivacy of Ihe contessional Over summer 2024. main proed 45 the relurbishmenl ol the Librwy. fo¢ugng on Ihe (lent use of the Id)rary as a spate for private slu¢ty. rinonced in large part by a generous dcfialion. Next ar we will c(rylete this rdlw programme an upgrade ol thè Fisher Ro as the sorAalisFr¥J frm siudenl members. 3.Regulaiw Framework A5 noted earliw, the TrteeS take cwe to ensure Ilwl au rekvant ¢e"[Kath)n is in c¥der. Thls indudes fire saf8ty 1nspectwjs. insurance u)ver. heath arKI salety SYecavl (stops, ramps, swfaces) and legionela inspection. Irt5urance cover inclu(les.' i"kI, cmlewts. fwe and Olr darnage. REVIEW OF ACTIVITIES ANO PERFORPAAMCE: SERVING CATHOUC INTERESTS Over lJ)e course of the year. Truslees have contiwed to dosetyMlh the CharAan. Assisiant Chaplw"n5 and volunteer clergy. to ensure that lunds facifftitss are avaifabk to supptyl acti85 01 a Calholic nature in and through Fisher House. The most gnrfL?nl item of rewlar annual expeThYitufe lor the Aswtation is the provision of a suknlion ILY the work of Ihe chapncY. The wiwpal aim of this wth 1$ to provth spirilual and pastoral suppjrt frm Cath memr$ ofthe Universty Ihe prtsvi5ion ol bluW41 cetebra110. otta$n5 for priv8te prayer and the study of Cathohc hterntw¢, optKxtunitses for Cathohcs to meet each other to so¢ialize and to befngnd each othef in a Surp en¥K¥Wl. and lo welcome inio Fisher House th95e of other faiths or no failh. some quanlrtaiNti ffleasure ol h(Y+V CUCA Fisher House are achievry IheiT tharit8 goals provKled by a summary ol actvibes provKJed by the chap. Each adwty cx 5eNce is a¢wmpanied by an •stimate of Ihe number ol peO? invthed. Wetkday Mass Altendw Tenn Iwne Trn persLY135 ValI0n time in per 20 Sunday Mas5 Teim tsme attend8nee in person 320 Term tsmg attendance via livestream 10 Vacation 1wne attendartt In person 1$) Vacatk?n lime alt&ndare Ma Iivestrearn 10 Studenl numbets at lun¢h and cthr rewlar rneetry5 Apologia IEvery Tuesday in Mithaelrnas and Lent Te$. ffirsl T58y$ in Easter t8m)150 Op¢n oifiee (Fridays in lerml 8 81g¢k Swan Bar (Fridays in term) 20 Altar Servers Iweekty in temil 12 Dolphins, Football Tewfft Iwe¢klyin term) 20 'Hadd¢xs' Medical Eihic6 Group Ifwr meelws Mtheknas. in Lenll 15 Schola Carnorum (weekly In lerml 10 English Mass Choir (weekly in term) 20 Fisher Committee16 times per terffll 12- CUCA makes an annu sthention to Ihe Committe Page 3
CAMBRIDGE UNWERSITY CATHOLIC ASSOCIATION CIO REPORT OF THE COUNCIL (CONTINUED FOR THE YEAR ENDED 30 JUNE 2024 PTO-Lite Group (ten meeb'ThJs over the ww5e ol the academ 8[) 10 EcurnenK81 aTrJ Interfaith GTOUP". a one-off rAjnIeren altracted ¢75, incknjry Members of Universfty 151¥nwc and Jewish Socielies. the Sttjdenl chris11 Mo¥emènt a5 wel as member5 of Fisher House Companies of Malla 25 Piranhas (Rumiry Group) 15 Fisher Society numb5 (Ca1hd Studenl So) 2023 was 7x1 GradSo¢ lyraduate soaetyl meTrJernhip 2022 Fortnightly meetings during Michaelmas Iwm, averwje 20 The CUCA Subvents. to the Fisher sety incbjks a t1 Gradsoc Po$lDoc Group This has ten slowly regairwJ admty pjst-covid. Weekly SuThJay Apentif Item Imnèl". 1 Fishw FildS (the Sen•Jr Memberol Ihe Urmversityl rntetg after Sunday Mass." >12 (average 8 Social Oulmch Order of IAalta VcAunteers 35, lou¥ soup IS a terrn b.rne aTrJ knjr srt down dwirE for the horne85. The chapel trs #150 used by m¢Jsiaans loi rehearsiw * rewding As needed. Ihe Fisher Rcx)m rs us¢d as a Pomry StalKJn. Coleclion in kind lor Ukraine Trips and Pl1mageS Pilgrimages to London 8 W8lsryhwn." 45 There was a walknn9 pilgrvwJe Irom CaTknhJge to Ety 28 Annual èv•nts Fisher Mass and Lunch 280 Fisher Dinner 1XI In recent years. folknmng the ad¥icÈ ol au¢Jtors PEM. attentN)n ha6 been given to Setting out morè dearty the T•"0n8hIP b2h¥een the manageffEnt of the A$s(KIats's tNJ5wiess Ihat of the Chaplaincy. The Asswation is responsible for providin9 the mS- the b..d mainlenanee, and approwiate financial resoui¢e5 to allow Ihe swriiual and pastoral ol Ihe Chaptans and ChapLaincy to flowish. The WO of the ChaplairKy falls Part Iwthin the remit of CUCA. pro¥ides it5 home and ts rrMj costs. and p8rtty within the remit of the Oxlord and Cambridge Cathdic Education Board I(cEI. a separate charity reporting lo the Conference ol Cathdi¢ 8¥5hops of England aThJ Wales. rewn5kn1e for Ihe arwntrnent of the Chaplain. The Chaplaincy itsèS1 is not a eharilable Droanisafv"on. OCCEB r0deS • sm1 amount of funding direct to the Chaplain for hwn k> spend at his dCle110n.. at present much tt)is used kn fund ts salary ol an Asstant Chaplain, with sury>lus èecruing for fulure Chaptainty related exF¢IrtWe. The OCCEB Trustees aknate Ihis rintrfenced surn ea¢h year and receive a Stalefflent ofexwditure by the Chapla"n. The daty rwffiing of the Chaplaincy is managed by the Treasurei and AdmiThstratty and suppNted by CUCA'S Finance Commrttee disw$sKyn with the Chaplain. The CUCA Councd reviews relevant exp)drture al ils MKhaefmas tem meetirvJ. In JthtbJn ID dired wpport for trwwort ol Ihe ChaF4ain. Ihere 15 also <&¢1 sw)wt loi siLtdent #ctivit5 thrwgh an annual SubVenOn (£4,426 Ihi5 yearl rnade trj the Fisfr Society, and through it Ihe Graduate Sooety. Thi5 money 8ll¢>ws these Societies to tlan and c¥ganize a rangÈ ol eV¢S ielated to Ihe work of the Chaplaincy. These events included. znnval ILtr)thes kK new siudents and departing students, 8 wde ranoe ol talks, hosfv'ThJ visitor5 trom other churches and chapbaincies, a nW-Iwn8 invitatson lo pa5SW5by to drop in find wme quiel me OT to learn rne about the work of Ihe chaplaincy, vrt.0n to speakers 8entix respective field5 to rxjme and lead discussions. Th? students prep lh8 own drnjmenl 'The Fisher Herald 2024, whith sumrnarise5 the total and vAde range of Iheir aCts.be$. The AssWatic maIntaS arKI losters thnks ilh ts abjmni rMn1ty. styne 4CrfJO wodthwide. ihrgugh Pago 4
CAMBRIDGE UNIVERSITY CATHOUC ¥isslATION CIO REPORT OF TTrtE COUNCIL (CONTINUED) FOR THE Y&qR ENDED 30 JUNE 2024 provision ol an a)nU new5ktter {Ilslithted in Awvswemberl. Ihrwh active ttse tsl the website. with the provision of an Annual Mass lot the commenh)ration of benelacth. and IhTough other reunion and ad hoc gatherings. The annual new51etter. in athtion to keeFKng ahjmni inforrned and Invofved In the Ille of Fisher House. is Blso an Impjrtant vee for fijnthag. The AssooatK)n normauy sees a sigwmficanl ease in donations loll¢)WiTh3 appea15 made in the newsletter. re no plan lo make Ihe newsletter dig.rtal only. how&¥er we ale asking alumni and Olher supportèrs lo [KIe ernal addfesse5 land peffliis510n lo use Ihtsml io allow furthèr communEcatics thai rnay tnrkne lundraiwg e[Dls. Members are encwiaged to Infomi themselves of the chly'S activit5 by aNendw3 Ihe Annual General Meeling at whith Ihe annual ac¢wnts ar8 discussed, I¢8ding Ihe Nletter. and review the Charivs a¢(Yt5 as wsted on Chanly COMMI10n.S website. GRANT MAKING POLICY Art grant is made to Ihe Fits Socw is reccJnwl by the Proclors as a Universty Sou'•ty. Other grants may oceasonally be aUlhl by Courol on an ad basts wrthin the terms of "rtem 15101 th• Assoaalicm'$ oi¥ects. FINANCIAL REVIEW & RESERVES Th• CUCA CIO rn$ to mntain sufficient unFestrirknJ general funds to cover expecled expenditure ol at least six months. At 30 June 2024 these at £618,11512023" £524.3751 1$ above the expectation ol £175.693. As part ol Ihis. the CUCA CIO aims to mantan a work¥)g cash reserve {bwng cash at The bank or in handl to cover the expeThJilure ol ai ka5t three m(¥ths. The cash reseNts on 30 June 2024 was £99,$31, whtch is comlortabty atM)ve the largetol£87.846. FurtheErTh)re, £425.821 12023 £308.3071 was hekl a5 cash in the investment porlf01 as part oflhe balan1 inveslmenl assei atrat¥)n strategy that CUCA CIO have adoptèd, CUCA CIO monlaih a designated re5wve for fulure mainlenancè expendturÈ. As at 30 June 2024 the lund s¢oDd ai £157,73312023". £200,000). Duww Ihe pwbjr year a new dgnate(l fund was ¢ted io cover Ihe costs fow fuiure CaFMtsI expendilure. As al YJ 224 the bal was £200.CXJ12023. £200.C4)01 The inme of the CIO was £388.636 12023: t3.011. DTect thailatAe expqndiiure arryJLmted to e351.385 12023.. £225.3341 whith induded depreciat 8nd rNxiisakn of £26.037 12023." £25.1991. This resumed in net surplus before inveslment gains 01 £37,251 12023.. £165.2671. Aftef invesknenl gains of £579,443 12023." £32,049 gain) th¢ Charty reporte(1 lotal funds 01 £7.399.74512023". £6,783.0511. an inuease of £616.894. The marttst vakje of the 1 inveslmenl p¢xtfokn. including cash. weased by £896,880 fvom £4,914.029 to £5,610.909. This increase in our income us to thnIa the of SUP[ we ge in pursuit of the Association's obpctive5. INVESTMEP4TS The w"ntip81 invesbnent obj'ective agreed by the is to mamlain a rea50nablÈ balance betsveen eapital qrowrth and inGome lo ¢nswe that curf¢nt fuiure needs ol the Asso¢iai)n can be mel. The portr00 has balanced assai $Uoratv)n comwr&irYJ UK and intemathwl eqiMls. tX)fKls. gohj. cammerual woperty and cash. During thi% last ar we have Carried out a revi ol cwr investments wrangements. conduded fhat the balanced asset alOtiOn has the yehed retwns that we m&ht have received though a more 8dive management of our fuJS. We inteNiewed three luTrJ managers. and have deaded to west wilh CCLA. and particular Iheir Catho&¢ Inveslment Fund. vthth has an ethKal cofflmertsurate writh our obpctives. We ore also actir¥ in antiPati of a request from the slwlent ethThl wwestment porlfolio. PRINCIPAL FUNDING The A5souatioft's main fwmhg sowrs from dtThtKX. lega5 and investrnent inccffle. FUNDRAISING P*Je 5
CAM8RIOGE UNNERsrrY CATHOUC ASSOCIATION CIO REPORT OF THE COUNCIL ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 CUCA raise5 funds in Ihree rna ways. firstr. ltre 15 a (t)n dwing rel¥J5 services in Ihe Chapel dunng which the congregatK)n makes offen.ngs r59 5h. chegRs ujnlaclless. secondly, we re1ve online donalitins elIr one off w by Sknding order. predrnntly Irom local rnembets of the Chapel cornmunrty and thifdly, we ¥eceNe uns01led donatK)h5 predonmnanlty Irom aluftl, often a5 bequests. We do not ¢uffenly send out lundrais•)g &leratwe other coMrnUnKalfts (sh as emails) however. swKe GDPR came in we ntjw ask Member5 annually lor pemwssx)n 10 send suth comrrwrrtalK)n5. WÈ tlo not employ wofesonal fuThJrai5ers and Iher6 were falures by thè chanty in complwwJ wlh Fvndraising slaJaI5 in Ihe year. Any fundraising Cop1a1nts be handled ty the Treasww COn h the Fnce Commrtlee.. there Were ¢hv sear. RISK MANAGEMEIIT Thè ¢wnc keeps revw ts fisk assessmtht Fthy publ"c liatiility insurance arwj heamh and safety issues. Insuran p)ho"es for Publ 3Th1 Emplr.S Liablity. BU1)$ and Contents and Trustee Indemnity are maiwrtained wrth Awva These are kept urKleT rewew a1 Ihe exteTrt of cover is updated a5 necSary. undef advice Irom One Broker (Camtr} Ltd The freehoJ prertY ethnprirg Fisher House is revalued lor insurance PUWFJses every fve wrs OT as requyed, mosl recenuy 2023., valu4ts.tsns of the ¢ontenls of Fisher House are obtsmd apFYLwate. ser"ty kept ¥jer u)ntinual re¥W and annual service contracts lor the maintenorKe of access controt, CCTV and ar4 SYStem5 are kepl up to date. A card auxss 5yStern has been inslalle(I to cseate security zul in House and Ihe Chapel. Now that CUCA is an employer there Is a rk ol an employmenl dwe. Ths nsk is mitigated by mainlaining good comrnvnication with emF4oyees aThJ S)IIow4NJ emF4oyment Professional human rehtsons advice wll be taken rf Ihere is material rtsk ofa dispute. The man risk lor CiKA r5 that the ol the endowrnent is reduced by a Ilapse in the underlyT"ng markets. This risk milwed by adhering to a balanced asset alDcation strategy whereby risk its spread ovw rTrany dozens of UK Llobal coEnpanies and as5et5. The main goverwte nsk lo CUCA CIO is madequate perfcrfn ol the Trustees. There COU be mputational darnage il dubes are neglected or sutte55K key roles is not adequately undertakerb. STRUCTURE GOVERNANCE IIANAGEMENT CUCA CIO Is a registered rknanty Irwmber 1184835), wlith was fOded in 2019. havi converted from an uninCo)r8ttd charltable efity. Und•r the tetffls ol Ihe updaied govemfftg Tw51 Deed. dated 9 August 2019 lorjginal dated 23rd July 19261. resrKJnsiblty for mwwern of the AsSat¥1'5 affairs ts vested in the CUCA Council. and partrularly ¢t$ ofkers. C(yJMeil meets Mce a and the conststution also proVe5 for the calling of addilional or exliaordinary rneeling5. CUCA Cgunril reSpolble for ensuring Ihat the builth"ng. Fisher Housè. is ManIaed as an asset Ihe h"lÈ of the chanty Members ¢¢1 the Associabon are those th a recogn£ed affilolion lo Ihe Vniver&ty of Cambr either as ¢utyent or fom)er members of staff or slLKlenls. There is a P1Dvisn tn Ihe conslrtulion for creab.ng tbjnwary members of the Asscoabon. as de¢kled by coun1. t)ut suth honorary members have no voting rvJht$. The constiltstk)n wovKles for an election pr¢eass for Trustee5. fèquirng those wshing lo be eons¥Jered caThJdate5 to kyovide lo the Secretary of the AsSocia.0n a proposer and gender lor th•r candidacy at least I weeks l)ek>re Ihe AGM al tK)ns tak¢ Oace. N0ce of the AGM, hekl In Fisher House each year on the first SuTraay of Advent. is rKJsled on the website. on CUCA noticeboard Fishw House aNJ tirujkted by ernail. Vot¥YJ 15 in pewrTr. Th¢ estished CUCA Officer posts are PresMlÈrJl. Trvasurer. Secretary a1 Librarian. Sc•Jndirws are taken amongsl th& commThrty lo ensure that there Mll bg wx)d candidates standirg lo rwace officers bthen the¢r t¢nure expires at the next AGM. The Trusle8s are mindlul of a need lo foster ¢"ver$rty anwst Tw5ke5 Irtr terms of ag¢. genijei and expeth"5e. There is now an age swead of ca 40 wrs anwst trjstees, three fjlths of Ihe Offi¢ers are women the gender tsa1ce of the other Trustees is 1.3 female..ma. (kn the pa$1 year Counc41 has gwi additional encouragetnent to Trustees to inform themselves of thanges b Chartiy law. aTrJ 8¢ed Inc${ emphasi¥ on the requireftn15 of all (arFty TnJstee5 to be lully trrned of Iheit resporbbilrties. The cwfent Trustees provide a raThJe of adminisltatÈve, Feyal and fwncial expertise. aTrJ . 5t all necessarily have th5e links lo Ihe UThversity ol CanJri(kJe, tY often aF50 experien in 01 sectots vrilh direct ielevance to Ihe Ass0e4ab". The President arnj Treasurer wovbye Thjudion for n&¥ Tlees. The President PFovvJes a copy of the CUCA Consblu.on and explatn5 Ihe m*n pro$)n$. The Treasuter provides u>pS of Ihe 5ate5t investment Pag• 6
CAMBRIDGE UNIVERSITY CATHOLIC ASS¢XIATION CIO REPORT OF THE COUNCIL ICONTINUED} FOR THE YEAR ENDEO 30 JUNE 2024 ropjrf finance mrjynittee minutes. The 15 di5CUSSk)n of CUCA'S mam $tsltie$ upkgep of the fac¢lities. the emplo slaff and Ihe Thieslment of the erK3tyvment. h addrtion. the Treasurer intrLYluces new mernbers of the Finance CommHttee to the lemily schedLAe of meebngs aThJ the topics routinely coveied each rneets'ng. Th? annual reporting and auditiThJ routires are olttkned. The Tieaswer a150 oullines the pas5[, balanced asset alkncation investrnenl stralegy. by ieleren¢e to exwes of Fe(znt inve$fftnl portS. FINPWCE COMMIThEE MATTERS The Trustee5 he idenbfied what Ihey thM)k are the main risks faciwvJ Ihe Association and estimated Ihe risks. The Msk register is rewewed and plans are tled rein lo milyte the hazards. The Tiea$uier. ¥th advice Irom Ihe Finance ConNni(tee and wlh Ihe cons¢nt ol the COJ, has mar the endLxvment passivdy according to a.anCE asset alkncatb)n' la mix of UK aryl inlernatKnal sharÈs, bonds. UK property. cash and gddl. A investrYnt costs a DOW a Iracl of s percent ol endenT Against a backdrop of on5k1erae mk•t volahlity, Ihe portlojio rose by rrAJgNy 5% over the finanoal year. recovering the losses of the premous year. however these gains are offset by spjniftcant fialThary headwtyjs. The mcome fiom th¢ eY¥JowTnent has now largdy recovered to pre-Cod level Detsed overh1 tsl financial affar5 Ire9ular and expendrture, portfolK) perfCKm8n, decisions concemino MI? expemliture on proje¢151 15 delegated to the Fance CLYnmitteg whose membership con5151s ol PSIdent. Secrety, Treasurer. Members ol rKJI officws. bvo meMr5 who a nol Trustees, 8nd Ihe Chaplain ex officio. "nUteS of Ihe Fnance Commttee are circulated lo Council Discussions conceming expendi on major prc¥ects may ir4bated CcMJrKal but also be referred to Finance Commfftee for detailed discuwon arn1 wEcommewKlat1c. Firw)r Commrttee also c¢dets staffing In some dètsil and make5 recommendations to Counc4 rx)ncerning slaffiNJ bevels and sa3nes. In general. JmM¥5trative $taff salaries are increased in lifi• wilh pay award5 to MparatIe stall. IAembers ol Councl aro Fe5nsIble for ensuiing Ihal leVant officer5 prepare and twent Ihe Associakn's annual report and arLounts in accordance th Current eharity law and wactice. In partirAJlar cClI is re9151b1e for. appointing auditors, obseNry aeeoontsng rule5, maknng pjdgefflenls and taking decsK$ ttwt reasonabl• and in a¢¢ordance with relevant r¢gulatp)ns, and exercising proper aThJ aprxcyle ovewht elements of the Associati.$ finaal managernenl. These indth.. keeping acA¥ale accountin9 recortjs and $latements that comply wrth the Chariks Ati 2011. Two adtninistraltye posts crmtinued dunr3 the The CUCA Administ¥alor contracted for 4 hours per week and o¢¢as811Y wwks overbme. ThÈ CUCA Book keeper contraded lor 4 hwrs per week and is supporting Ihe Treasurer in ihe generati of Ihe aoUnts. Accountino le)rS and suppcmting dala conceming deta5 of inC£e and expenthkne are Stored th the Assat)n'$ sethon of the olke tocated in the house, Fisher House. They are mainiained by the ke¢per at¥J TreaSurerd are available for inspection by other mèmbers ol co.1 as by ad}lOrS. There is a back- 5ys¢em containing doc42ments relaling to insurar, building proie¢fs. arxl other asso¢iaied matewial. bul much of the data ts now in electronic lorm. The Associatitsn is rtFindbJ of the nee(1 lo maintain records r)xw the various 4Ytspe¢bon regimes rdatsng to tt build4ng, and the regular expendture on maintenar. STAFFING AND EMPLOYMENT PROCEDURES One of the prinGipal obie¢lNes of the Asla1)n r6 the ol a Chaplani. ThLS OtpciNe Ls atheved both by funding a stipènd and Fwvidiw accom1, a5 rKted above. The Chaplain L% a Priesl of 8rentwc¢Jd Diocese. who iemain his emotr ri the course of IN"s seemjment. CUCA 1$ invOed by Brenh¥ood Diocese for his servth. The Assistaht CharA"n dumg ts finart¢ial ar is a membw ol a relYJiou$ Order in thg Roman cathol Chur¢h. In cordarKe Mlh the Chanbes SORP IFRS 1021. Sir a contraclu81 rolètionship behveen the Asso¢Iats"¢ and the A$Stant Chaplain exists. paentS made to Iheir Otder in respect of salary during SendMent lo Foher House have ieen rerw)ised as Pa1 cx>st$. For othtrr Staff Ihe Assooatson is regi%lered HPARC as emrty. It is responsJle foi payThJ the salaries 8nd pensrons of the Catetakei125 hrs per weekl ieSFonth"hties to rnainiain and prolecl the fabric of Fisher Htyjse, the CUCA Administrator 14 hoLX$ per weekl wih general admiThstratrve responsibilibe5 for bolh CUCA and the ChaaIn¢Y. the Chaplaincy AdminIrate aSs[slI4 hrs per we8kl with res).es for chaPlnCY accounts and keing donation records at Ihe Book kgeper14 hours per weekl wth resp$4b11ths for keeping Ihe accounts foT Ihe A$s0(aal and perfom.ng palI1. The Caretaker. Admiftisttator. Administrative P•3e 7
CARIDGE UNIVERsifY CATHOLIC ASSOCIATION CIO REPORT OF THE COUNCIL ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 assistant and Bk keeper posts are th"reclly by the A$5coakn. All tho empbiees regular support for the wort of the Chaplaincy and the Assooabon. On a day40-day basi5 Iheir work is o¥eFseen by the Chaplain. In eMOyment terms. they ret to Ihe Trustees. Other than departure of the lay assistant referred trj aljove Ihere was been no tury¥)ver of staff 115 year. All empJoyee5 are ottered the opp)rtunily foi regulai appraisal and lor Iraining. STATEMENT OF MEMBERS OF COUNCIL'S RESPOMSIBIUTIES The Members of Coktncil ale respons PfEparing 11)tt membe ol Qnl'S rep1 and Ihe financial staternents in accordance with appacabk law and United Atttymbng Standards (Uniled kn"ngdom Generally Ac¢eple(l Accountsng Prad1). The law applica)le to tharrtie5 in Engbnd & Wvjes rewwes the Membew5 01 Councd to wep8re financFal Slalements for eac finartEal year which give a iwè and fatr wiew of ihe stale of affairs of Ihe thanty and of its comirvJ resources and applKation of resources, induthw ils income and expenditure. for that peTiod. In prepariTra Ihese financial statements. the Members of Ccthol a required to. selecl suilable accountr.ng pcthoes then ap Irn (x)nsi5tentty." obserye Ihe methods and prtn&F4es ol thtr Charilbes SORP IFRS 1021.. rnahe Judgments and £Cunti estimates Ihat are reasonaL4e and prudent., stats whethtsr applicable UK Accounting Statsd5 IFRS 1021 have been Ic41w, S1ct to any Matla& tpartures disckjsed and expL44d in Ihe financial statements: prepare the financial stalements on the concem bas Lmless it 19 ulapwr4i& lo pre$Ur that the ¢h•ritywill conb.nue in Ewiness. The Members of Council are responsible for keeFxng 4equale accwting records that are suffiaent to show 8nd expkin Ihts charitys tsardIOnS and reason¥e acasracy at aTry lime Ihe fmantial position ol (he charity and enable them to enswe thal the finan slatements Compty ilh the Chanties Act 2011. the Charity IAccoLtnl5 and Reports) RegUlatr"L5 21K>8 and ts 4xovisions of the Trust deed. They are also responsib for safeguardtng the asstrts of the ththy hence for takn. a$(lab sieps for the prevention and delecOn of tra ¥#J olherwTegLtsiis Approvad by rthr of the rnber5 ofthe booTd otèAenkn5 of Council and gned on its behalf ty rolessor J Sosklce PresKlent Date Profe550r Tiea5ur J Kèlly Page 8
CPAI8RIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO INDEPENDENT AUOIYORS. REPORT TO THE IIEMBERS OF CAMBRIOGE UNIVERSITY CAThOLIC ASSOCIATIOM CIO OPINION We have audited the fin8n¢l 5talemen15 OIC• UThversity Catholit As50ciatson CIO Ithe'ehartyl for the yèar ended 30 June 2024 conyise the Statement of financral 8clivibe5. the Incorne and expendilure a¢ount, the Balance shEet. the Slalemenl ol cash 11(Ms aThl Ihe reLaled notes, inrjudmg a summary of significant accounbng policies. The financiaj rep(xtry framework that has been applied m their weparation applicable law aftd United KinWrn AcfM)UWbtTrJ Slwdards. yth"n9 FIncl ReF4)rting Standard 102 Yhe Finawal Reporbng StaTrlard applKable in the UK and Reput1 ol IrelaFkl' (Unrted Kiigdom Generally Accepted Accounting Praclw}. The financial stalements have been wepareil aCCordae wth AccounliThJ and Repuling by Charitie5 prepanng their accounts in a¢wdse wtth the Financial Repth"ng Slandarts applicable in the VK and Republic of Iland IFRS 1021 in preference to Ihe Ac0n11n9 and Rewjrting by Ch¥iltes." Slalement of Recommended Pra¢D'ce i55ued on l Aprf 2C#)5 which is releFred to in Ihe exlant regulath)n5 tsjt has béen wthlrawn. This ha5 been ¢Jone order for Ihe to wovwje • and lair view accdance wh the Gen?raMy Act¢ptgd Accounbng Practice effth for rewtirwJ perKrfls teg1¢1# on or after l January 2015. In our osxnion the financial statements". "ve o truè and lair vwi ol the $l•ie c+ the dwiiys affairs as al 30 June 2024 and of ts in¢(1j rOU{Ce5 and applicalion ol res<MjrS for Ihe year then ended" have been wopewty ePad in atec with United G&neraty ApIed AccoLmtsng have been prepared ) acc(xdaKe ith the reqrements of Ihe CharitKs Ad 2011. BA818 FOR OPINIOPI We wn<Jueted otsr au(l in accdae ilh Intemalional Slandads (UK) IISAS IUKII and applicabte 8w Our reSpolbIllthe5 under those slandards are lurther desuibed In Ihe Audilors. spOns*Ji1ltr"eS for the audit of the fanCial statements seclion of (MJT report. We are indopendenl of the chanty in accordance th the elhieal ieqwrem8nts that are relevant to autht of the fin8ncial 5tat8rnents In the Unrted Kirylom, in¢ding Ihe Finanal Rep)rting Coktncil's EthTrl Slandard. we ha¥e lUled otsr 0r elhl responsitxltts.es aOrdanCe wth Ihese rewirements. We bekeve Ihat ts authl evkJence we have obtained is sufficient arNI appropriate to provide a ba5 for rw wnKffi. CONCLUSIONS RELATING TO GOW4G CONCERN In auditing the financol stalements. have crtthyjed that the MEmbers ol C<yJnul's use ol Ihe going concern bass ol acctsuntrKJ in Ihe prepa13 tsf thÈ stalen$ ts appr{wte. 8asèd on the work we have performed. have nol thrfted any material uncertaint$ felating to events or o)nditsJn$ thal, Thlividuatyor ¢olectively. may cast doubt Ihe tharitys abthty to continuo as a going ¢mtem lor a period of at least We ryth$ from vthen finanaal 5talenRnt$ are 8th"$•d for issue. Our responsbthli¢s Ihe resp1e$ tho Members of Crxmc4 writh respect to going concewn are oscnbed in ¢he relevant se¢tw6 011lis feshJL Page 9
CAMBRIDGE UNIVERsrrY CATHOLIC ASSOCIATION CIO INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CAlRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO ICONTINUEOI OTHER INFORMATION The olher inlomiatKJn compris•s irrformation WKknled in the knla1 report other Ihon kne financial statements and our Auditor5. report there. The Members ol Co¢Jncl are respon9 lor the othu inf<>rmalKJn conlairbed Ihin Ihe knnual report. OLK Opin lh• finanlyal slatemenis ¢Joes not cover Ihe other informabon and, eK¢ept to the extent othenwse explirity stated in our rerK)rt. we tlo express any fL¥rn of assurance CDnClu0n thereon. Our $)nglIty lo lead the rAheT Mf0miatic and. in doing so. conshler whelher the other info0t1¢n materially incon515tent th the finanfial statements or our kllege oblained in Ihe cwrse of th audit, or othewse appears to be MaterilY mtsstated. If hdentrfy sh malerial Inco&S1enClQS or apparenl matefjal misslatemenls, we require(I to determire elher this gNes rtse lo a material mi55tstement in the financal slatements thewn5elves. If. based on IhÈ have perfomw. conrjude Ih81 Ihere a material misstatement ol llis other InftNmatTh. we are requwed to rermxi that fact. We have rKsthiwJ to report in Ihis regard. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTIOII We hawe noth9 to rerK¥t in respect of the 101kn maiters tse the Charrfies {Accoun15 and Reports) Regulations 2008 requires u$ to rep lo you rf. wi our opThM.' the infMal)n Ven in Ihe Mwwthrs d cOwlf$ report ts inConI in matev81 respect Wlh Ihe fircIal stateThnls.' 0 sufficnt accounl¥y recosds have not beerb kepi or the financial statem¢nts 8re rxit in agreemerf with the acCnI records and retwns.. or we have not received all Ihe expkn1 requwe for rath11t. RESPONSIBILITIES OF TRUSTEES As tsxplawt more hJlPy Members of CcAmS statemer( fv Members ol Cwncil a reSpon$kn lor Ihe preparatm of the financial aiemen15 give a true and lair Y¥. aThJ for s(Kh inlemal control as the Members of CourKd detevmine is necessary lo enabk the preparation ol finanual statetnents Ihat are free from matenal misstatemenl. 1her due lo fraud eMIr. In Ihe finanraal statements, Membets of C(MJncil ¥e resp¢yNt lor a55essing the chaiitys atylity to contsnue as a gory con1, disdosry, as aFvkaE48. mallers rekled to gthng concern and using the wino oncern basis of accounting unless the Members of wlher Inte• to liquidate Ihe charity or to cease opetathons. or have no realstr a#emative to do so Page 10
CAMBRIOGE UIIIVERSITY CATHOUC ASSOCIATION CIO INOEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CAMBRIDGE UNNERSITY CATHOLIC ASSOCIATION cio IcoKllNueDI AUtMTORS' RESPONSIBILmes FOR THE AUDITOF THE FI•IANCIAL STATEhlENTS We ha¥e been as audtr sedK) 144 of the chai Act 201 l arKI reprxt m ornCe wlh thè Act •vJ Felev8nt le9atiS made or having effect thw•uThler. Our objectives e to re8sonabk assuwce 1her the f¥)ancial slatements as a WTr1e are free from material misstatement. vthelher lo fraud w error. and to i5we an Audiltys, report that Indudgs our opinion. Reasonable assurance is a hth of assurance. is not a guarantee that an audit con¢Jucted in accordance wth ISA$ IUKI wil ahyays deted a malenèl MStatement Trt exists. P/isst8lements can ansts from fraud u error and ale congdered matwial rf. ithK1ualy or M Ihe aowegate. they could wsonably be xpectEd to iofiuence the econoThwc decon5 of user5 taken on the basis of Ihese finantsal stalernents. Irregularibes. including Tra1, are inslan¥ of nL¥Komphance T1 law5 and regulatKffis. We de5wn procedures line with our responsth'tyes. outjined atove. lo detecl material mts51atements in respecl ol Irregularitie5, indudiig fra1. The extenl lo wlxh rwrKedure5 art Capab of deteclw regUlar$t1&$, Induthng fr8ud is deta belTrw". Our approa¢h to idenlty.vg and assessir)g the iisks of Ma1181 misstatement m rEspect ol irregukn"tres. including fraud and non4ompliance Eaws aThJ regulatk)ns. was as f. the erwJagement partner enved that the eThJagemem Itarn ujlkdivety had the appropriate competen. capabilrti8s and skins to ¥Jentfy recogni$e non-eomrAiance applKable laws and regulalN)ns" we identrfied the laws [egula"On$ 4pplKable to the Charty fvough dwuSS with Tmstees and other management, and from our krkxwledge and eKperierte ol the serAor we obt8ined an understanding ol Ihe leqal and rewtalfmy frame¥wJtk appkatde to the Charity and how the Chanly is ¢(pIY with thai frantry>lk.. we obts¥ied an Utalng orth¢ Ch5 and pKKedures on comF8rKe wilh laws an regulah"ons. includiro docurnentstwjn ofany I13rS of ncffi.c(npliance. we identtfied whith laws and reat5 were signrfKant the cthtext ofthe Charity. The Laws and regUb"OnS we consmlered in this context were Charities Act 2011 and taxation legisL4tsortr. We assess the rt(yMred nFanCe with these kn and lelat)S as part ofow audit predUleS on the related financi ststement items.. in addition. we considered wovisons of olher la reguIatKX thal do have a dweel ellect on the rmala1 statements but Compliar wth which mvJhl be fvThJalal lo Ihe Charity's abthty to operate or to avokl material penalty," and iden&fie(I Iw45 and gulationS wére wthhin the team regularfy and thè team iemained to instances ol non.compliance Ihrwghout the We assessed the su5cepthlity ofthe Chws stments to Mate[ rThsStalemeAi. inckndw¥J olAaining an understanding of frJd might c¢rJJr. ty. making enqLririe5 of management as lo where they Ihere was suscep1thtY to fraud, Iheir knlywledge ofactual, 5[ted and ged fraud., arKI (x)nsidering the intemal ctrCAS in place to nlgate nsks cl fraLKI ar¥J n0n<onyliar With laws and regulations. To adth8SS the risk of Ihrough ManaGry11 ar overrKle ol controL5. we,. lested purnal enlries to idenbfy unusual transactws, assessed whetheriudgements and asyrykjns made m determFnry the &cctyJnting eslm8t¢$ sel out in the acwumb.ng were Indica¥? of potenlk81 ljas, and nvestigated the ral#)n81 behind swrficanl OT Su?1 trahsarkn. Page11
CAMBRIDGE UNIVERsrrY CATHOUC ASSIXLATION CIO INDEPENDENT AUOITQRS. REPORT TO THE 1mBERs OF CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO ICONTINUEDI In response to the risk of egUlalI¢S and n01KLnce taw5 and rewlatitwls. we designed procedures whKh in£kn1ed. twjt wère not Iwnded to". agree9 fin8nc481 statement dr5closures to urbdety"w sUppts"[¥ thtvmenlatm.. review0 minutes of Ie1$ ofthose charged wth govemance., eFW4uiring of managemenl as lo actual and p)tential h"IyalK)n and d&ms.' and reviewry 0)rpondenCe ilh reaTrI regLAatorn and the Charitys leyal advisor5. There inhereni i"mrfatts5 in our •jrt described atKJve The mcKe rerithed Ihai laws and regulal)n5 are Irom financial trans#)ns. the less bkdy il ts that we wouKI becomtr aware of nc>n-CDmpli8nce Audiling standard5 also l¥mil Ihe auth"t wctsdures required lo #nb"fy non.comrATra)cp wth w$ and regulatKJns to en4uwy of Ihe directors and other mawwent atxl insFeCtion of regUlatY and legal ctyrespondence. Material misstatements Ihat arise due to be harder lo det•d ttw those that ar from error as th6y may invdve deliberate concealment or Co11. A fvrlher descriptic of our the audit of the finartial stalements located on the Firtanaal Reporting Counril's webste at.. ww.frc.¢ klaLKJitc¥sres Al110$, iewt. nsibilrfEs. This d8scnplion [lls part of our USE OF OUR REPORT This report is made $dely to the tharW5 trusiees. as a br•ty, in acrdanCe WTth Part 4 of thtr Chgrrties IAccounts and Rep) Reg¢Jlations 2tth. Our •Jdit has been undertaken so that mi9ht stste to the charitys Iru8lees those rnatters we are r8quwed to state to them an AlrtOrs. report and for no other purpose. To the fullesl extent permilte¢l by law, do not ac¢ept or responsitl'lity to anyone other Ihan the chanty apd rt5 trustees. as 8 body. for our wcrfk. fcy th55 or for the we have forned Pèters elworthy & Moore Chartered Accwntants SlatuloryAvditors Salisbury House Statyjn Roèd Cambndg8 CB1 2LA Date.. 16 Dècèmbèr 2024 ters Elworthy& ale eJ'b12 to ta$ audrtots in tern ol seclK>n 1212 (rf the Compan1è5 Act 2£. Page 12
CAMBRIDGE U141VERSITY CATHOUC ASSOCIATION CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAJI ENDED JO JVNE 2024 Unrestrlcted Restrlcted Endowment funds funds lunds 2024 2024 2024 Total lunds 2024 Total (uThJs 2023 Note INCOME AND ENDOWMENTS FROM: Donations aTrJ legaue5 Other tra<5ing activities Inveslmenls 347 837 205,184 1.377 119,772 62,303 252.197 612 1.377 119.TT2 113.527 24.265 Olhei In¢omÈ TOTAL INCOME AND ENWWMENTS 62.303 20S,377 120.609 388.636 390.601 EXPENDITURE OP4: RatsiThg lunds Chanta9 athlIes TOTAL EXPENDMJRE 8.402 342,983 5.496 219,838 275.3 281.691 6.149 351,385 225.334 NET (ExPENDITUREN COME BEFORE NET GAINS ON INVESTMENTS Net gains on Inyestmenls NET IEXPENDITURE)llN COIIE Tran$f8rs beNveen lund5 NET MOVEMENT IM FUNDS 176.3141 18951 114.460 37251 165,267 579.443 32.409 (76,314} 693.903 616.694 197,676 17 112.787 11117871 ¥4n S01.116 616. 197.676 RECONCILIATION OF FUNOS.. Total lund5 brwght forw&d Net movemenl in funds TOTAL FUNDS CARRIED FORWARD 1539.375 36,473 2.120 18951 4241,$56 581,116 783N51 616.£ 6.5B5.375 197.678 2.$75.848 4.822,672 7,399.T45 6.783,051 The Stalement of finawa 8ctMl*s al gaw and k)55es feec•3nffjed m Ihe year. The notes on paaes 16 to 35 form part ol Ihese finarK#al sialemenls PaJ• 13
CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO SUMMARY INCOME AND EXPENDifuRE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrestricted funds 2024 RestrktÈd funds 2024 Total fvnds 2024 Total funds 2023 GROSS INCOME IN THE REPORTING peRIOD Less. Tolal expenditure NET EXPENOITUREIIINCOMEI FOR THE REPORTING PEFUOD 205.3TI 1281,6911 62.650 163.54S) 268,027 1345336) 275,839 1217.9641 (r6314) 1895) (77,2091 57.875 Th& note$ on pages 16 to 35 form pwi oflhese firwKthl stalemts. Page 14
CAMBRIDGe UNIVERStTY CATHOLIC AS%)CIATION CIO 8MLIINCE SHEET AS AT 30 JUNE 2024 2024 2024 2023 2023 Nole FIXED ASSETS Intsngible assets Tangible a55ets Investments 12 8,7511 1,704239 S,610g09 13 1.730.026 4.914,028 14 7.323.B98 6.644.054 CURRENT ASSETS Debtors Cash at bank and in hwd 15 13.829 99,531 16.535 139.068 113,360 157.623 Credit$.. alTh)ts falling dUè.n one year 16 137,513) 118.6261 NET CURRENT ASSETS 75,847 138,997 TOTAL NET ASSETS 7,399,745 6,783.051 CHARITY FUNDS EThJownenl lunds Restiictsd lunds Unreslrithd lunds 17 4822.672 1225 2,57S,848 4,241.556 2.120 2,539,375 17 17 TOTAL FUNDS 7.399,745 6,783,051 The financial stalements were atvoved and auttkins lorissue by the Membets of cjD¢11 and sbJned on Ih¢ir behall by.. ssor J. Soskl¢. Prsld•nt Pfofes asurer Oale.. The Th)tes on es16 35 fomi part ol Ih¢5p finanLyal $latmnts. Page 15
CAMBRIDGE UNIVERsrrY CATHOLIC ASSOCIATIOFI CIO NOTES TO THe FIIANCIAL STATEIIENTS FOR THE YEAR ENDEO 30 JUNE 2024 ACCOUNTING POLICIE8 1.1 BASIS OF PREPARATION OF FINANCI STATEMENTS The finan41 $latements have been wepartd accordance with Ihe Charibes SORP IFRS 1021- A¢counting ReFwting by Charitjes: Statemenl of Recorrnnendeil Practice applKable to chille$ eparin9 Iheii acctyjnts m ac4ydance wlh the Financid Reporlir¥J Standard applKablè in the UK a1 Repubk of IrdaTrJ IFRS 1021 leffecli¥e 1 January 20191, ts Faal Reporting Standard akable UK KI Rerthk of Iwelark1 {FRS 1021 and the Chanlies Aci 2011. The finanoal staternents have been wepared to aNe a Irue and fairf wew aThJ have departed from the Chai?lies {A¢Un and Reports) Reoulatsons 2008 to the exlenl requwed to provide a Irue and lairf thew. This departure has Invo folbwing the Charitses SORP IFRS 7021 published on 16 Juty 2014 rath Ihan the ACUAJny arKI Re1 by Chariknes." Stalement of Recommend¢d Pra¢b"¢e effecbve Irom 1 Awd 2(KJ5 has SiTKe be witlulrawm. Cambridge Umtr5iiy Catr4K AsS¢Xwth CIO meets the definitKffi of a pubh¢ benefit enb.ly under FRS 102 Assets and hat¥.1rtS are Irtt8 recLwwl at htstorKal rA)st or trarthaction value unsess othewse stated in Ihe leVant acCOj pJt¢y. There were no sYJnificant xccwnb"ThJ esb"males Nements made by rnanagement in pr•p8rirwJ these ffinancial stalement 1.2 FUIID ACCOUNTING G)ernl lunds are urYeslThd (ur¥J5 ore avadat4è for at di%r•lion of the Members of CounrAI in rur1herar ol Ihe ¢Jbiecl¢ves of Ihe chan"tyaTrJ have Th)t betn des¥nat8d for (Aher purp)ses. For a(kn1¥e th. the may frorn to time allcc8le certa#) resouFces receryed to separattt fid5 Des¥gnated funds eomwse urnesit funds that have been set aside by the Memb¢rs of CouncAI for parular purposes The am and use of each de5ynaed fund is set out in the notes to the fina81 statemeftts ReStrted lunds are we io be used accordanc• wth spe¢ifJc restriciK)ns imw5ed by ¢Jnors or whth have been rad by the ¢harrty lor wwes. The cosls of roi51ng and Jmintstering gjeh fuTrJs are chw Ihe spear fuTrd The aln and use ol eath re$tn¢ted lund is S•1 Ihe re$ to fffianrial Statemts. la GOING CONCERN The Trustees have a ieasoThble ihe charity has adeqvaie resour9 tc Q)nth"nue in owalional exthnce for Ihe fyeseeth rUre. Ac¢cYdWy. ihe finwKial slatement5 continug to be prepared on Ihe gomg cOnM ba Page 18
CAMBRIDGE UNIVERsrrY CATHOLIC A&WCIATION CIO NOTES TO THE ANANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES {CONTINUED} 1.4 INCOME tkJnatJort5 are recogni5ed when the tharity ha5 been r•)lif in Wfthw¥J ol amwnt and settlemenl date. In the event that a donat is SLi)iect to ¢ditI5 Ihal reqre a level of perform8n¢e before the chanty is enlthd to Ihe frjnds. the income is delerred and not recognised unts"l eithei those corKj0nS are luHy met or Ihe ffilMeTrt ol thtsso condihon5 Is wholly within the ontrol ol Ihe eh¥rty and il is wcknable that those c4)nLtK¥)s the repofb.ng pe(. Legacy ft5 are feeogmsed on 8 c8se by case basis IdkAwng the granting of probale, the adrninistralorlexecutor lor Ihe estsle h8S o)mrThJwwc8ted wrrtir9 both the amount and I settlelnent d81È. In the event that the is in Ihe fom of an asset othw than cash or a nanCIal asset Iraded <. a recognised stock exchange. recrtin is subiect to ts value of Ihe gift .g reliabty measLtra)le a degree of reasonaNtr accuracy arwj the tth lo the asset hawng been translerred to th• tharity Grants incjuded ITh the stsiernent of fina81 a¢tNils on a recewable basi5 The balance of come tecewed for $pealic purrms nol eypended diry Ihe period ts shovm in the relevw lunds on the Balance sheel Where itLYne is received in advance of entitment of recoipt, ils recA)gnilion is defetred and I¢ In ue¢JitL¥5 a5 delerred Where entillemeirt LCurS IncD lay re¢L)verat4e ty) relai•Jft lo donal recewed under or deeds of covenant is rènised at tho ol Ihe donat¥m. Interest on furkls held on det)srt Iude when recelvabk and Ihe anoLmt can be measuied rebably by the charity. thts is rmymalty upon rMthficathM ol the interest paid c¥ payabltr by the bk. OivKlends are rocowsed orKe Ihe dMdeThJ been de¢gafed and notaicabon has been reIved ol thg fJiwtlend due Thts ts rMxmaNy tecew of a statement frorn Ihp investmenl marbaaer Page 17
CAMBRIDGE UNIVERsfrY CATHOLIC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES ICONTNUED) 1.5 EXPENDITURE L&abilils are reco9nised as expenthture as Sor a5 ther¢ is a kgal ot cortslructNe obli9abon CommitTrg the cha¥ity to that expeThIrtU, it is Nob3tAe that settlwnenl wlS b8 rewired and lh¢ arn(Kt of the obw.on is kno w ean be estMated refiably. Grants payable a¥e pawnents made to ttwrd pdrknes lthrance ol the chan"table rtijecls of the charity. In the case of an unconditti)nal grant offer this 15 accnd rffice the recIpnt ha5 been nok'fied of the an1 award. The notsficalwj) give5 the recip?ent a reascnable ÈxpedatKJn that they receiv Ihe ontr)ar u ulti-year t. Grts awards Ihat are sutrlect to reci.nt fulfilling perform8n condil)ns are ¢)nly accrwl the reoEenl ha5 been nl[d of Ihe and any remaini Lmfuffilkd conth't#Jn all@ lo Ihat 01 is outs¥le olthe ofthe chanty. Al expeThJitur¢ iq acetyJnted for on an wuals basi5 and is allocated to the applicable expense headings a dwt cost basts. Where costs Cat be direth alltTbuted to parbcular activties they have been treated as a support cost and alkncated as.mislIar$eous other cosls,. As the A55ociation is not regisiered for VAT. all VAT is thaiged agw expenditure th"ng for %thi¢h it was in¢wred. Ggvemance cosls Iwtuth fowm part ol suppyt costs) comwise all eo$15 invcing the W1¢ accountsbility of the chatty arKI 115 clIanCe regUlat)n and good practice. These cosls indude costs relatry to Ihe slatuw Jrt, asset ¥aa5 and olhef statutory teg81 fees. The audrtor's remuneralh)n is separatdy 4dentsf. Any Olher $upwt eosts that ielate pr¥narily lo governaftt are alkated as governance costs. The costs of raising conytse InvesthTrt managemenl lee5. PgSt¥Je costs and event expenses. orre costs arKf uth.lity biHs are largely account under (lire¢l ¢o$ts", the vast majority of such Costs Incur by the ASSOrAat are from the use of Fisher House by Ihe students who use its facilities and the resident chaplains. with a sm1 [m)t81 rJ)ntriLJbon accounted lo support costs lor the Asso¢¢aM)n's use ol a cLYrnr of the sh¥ed offKe, as shown in note 9. ExpendiDJre on iaising lunds n¢lLKJes al expeThJilwe incurred by Ihe charity lo raise fund8 for its halltable purposés costs ofdl lundrai%iwJ events and non-thafttable tradino. Expenditure ¢hanlth xtmtss i5 incu8(1 c decty dertèkn"ng the ac11vit$ which fu¥trw the charws th"eetnies. as ¥¥e4 as anyassoc4ated sw)p(Kt cosls. 1.6 INTANGIBLE ASSETS AND loRTIsATION Intangibk assets costt.ng £NIL C mrwe are capitalwl and recogni v+tsn fftjturo ecoMJmic benefi are prLable an¢J o)51 or vakne ofthe assel Feliably. Intsnoibje ats are inrttally wogntsed at cosl. Afiet recoJnition. under tho ¢osl model. inlangiNe assets we measufed al fAJSt le55 any a¢¢umulated )rtisatiOn and any accumulated wnpaimi¢nl Am(Klisatitin is prolded inlangiNe assets at rntes calwlated lo write off Ihe cost tsf each asset on a stravJhl-IN)e basi5 over rt5 expected usehA lrfe. AM0"s8110n is prowded ¢)n Ihe fol basis." Compuier 501twaro 20 % str¥¥Jht kne Pw18
CAMBRIDGE UNIVERStri CATHOLIC ASSIXIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2D24 ACCOUNTING POLICIES (CONTINUEOI 1.T TANGIBLE FIXEO ASSETS DEPRECIAnON Freehold property is state(1 al (leemed ¢A>St using the vaknatti)n al the date ol trantion to FRS 102. The freehold elty comprises the S¥15e5 known as Fisher House in Guikth8n Stre&L Cambndge, CB2 3NH. Freehohj nd F5 not dep[ected as it is Consre to have an indefinile useful lifo. Futur? costs incuThed in rdatw)n to land bjiklings, over £1,orxi. are cap"rfa1Tr5ed to Ihe extent Ihat U)ey mcrease UJe expe¢red lUtU bfits to the Chan"ty. Fbxlures and fittinqs acquwed p 2015 are hehJ at thr deemed cost urvJ the valuatson al the da of transtion to FRS 102. post 2015 are hebj at crd. Fue fixtwes and fftbn9S Costs ovèr £1,oc ar¢ copilalised. Dreeati Is ¢hwged 50 as to alk the (X1 of f'ble [d assds les5 Ihw real value over thr estimated useftl INe5. BthI(rNJs lex¢hJthng landl Fr¢S and fitlrys - 2% Stra¥Jht Line - 2- Straiglit L 1.8 INVESTIAENTS Investrnents held the long.term to gerate iwKcrfne or ¢èprtal 9rowlh are carned at matket value as ffixed assets. Th¢y are lalY rer/wsed at their tran5aclion valu¢. and subsequenlly measured at thwr fair vaue at Ihe balance sheei date The SOFA Indudes net gBin$ aThJ losses arising on revaalS and ¢sposaJ5 Ihra¥•MyJt the swr. Lx)th re81tsed and unreised. Reah5ed gain$ aYMI Ios8es on me5tments are £thed a5 Ihe difference beNveen Sales proceeds and their value al the slart of the financia sEar, cy their pwch&se v¥lue rf they were purd)ased after star began. na"Sed 9ains and k)sses are cak7Aaled as the thffèrence bel¥ value at the eThJ of th? finano81 year awKI the¥ valuè al Ihe start of the fmarKial . CY they purth85e value rf thty were pkrthased afterlhe fmanaal SEar b8gan The AssociatM)n doos not a[e instrufflenis such as tsivats.ves or put options. The main lorm ol fftnan¢ risk faced by Ihe tt"ty ts tl¥at ol volatAty investment martets due to Wkler economic eonditrms. the alliknJe 10 vestry risk. and che5 in seniimenl rcernIng equrties and within Partl9r sectors ors> secknrs. 1.9 DEBTORS other debt$ are rogrSed al the setllemeni after any trade iliso)urrt Offd. Prepayments a valued at anmint prepd net ot any trode discounts duè. 1.10 CASH AT BANK AND IN HAND Cash at bank a1 In hand Indude5 cash and short-temi highly IK4uid llTresknenls wilh 8 5hyt maiurity of three monlhs or fess I¥ the dale of aCqL#yln LY opening of the deposit or Similar a[zot. Pag? 19
CAM8RIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO NOIES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 ACCOUNTING POLICIES ICONTINUEDI 1.11 LIABILITIES A14D PROVISIONS Creditors and provi5wJns a whwe thaiÈty has a present obligatson ie5ulmg from Past event that wiu probably re5utt in the trarsfer Cf ft5 to a third party and the amount du• 10 settle Obliga. can be measured or e5b"Tnated lIablY. cert5 and prom$5 are nom)8lly r¢¢ognised at th•'r seltlemenl anw>unt after alknv1 forany trndè discounts due. 1.12 FINANCIAL INSTRUMEMTS The ¢hwty only has financial assets and an081 hallieS of a kind Ihal qvalfy as bae financial nslrumenls. Basic financkal in5trurnenls aTe initialy fewtrnised al transa¢bon valuè and subsequenlly measured at Iheir seitlement vabje the excepb.on of bart loans which are subsequently rneasud at arnOrted cost usin9 Ihe effectNe ty$1 method. 1.13PENSIONS The ¢Jl8rity waté5 8 defined Sche Ihe pens Charge represents the amounls Pble by Ihe cwto thefund in w ofthe )tar INCOME FROM OONATIONS AND LEGKIES Unrestrlcted Reslrlct•d Endowment lur¢ds lunds lunts 2024 2024 Total lunds 20Z4 Tolal fld9 2023 Donations Legacs Tax recoverable on donatr Other inc%Jrne 170.543 21.ItK 12.351 347 837 171,727 21.1(KS 12.3S1 172,518 87.325 12,299 TOTAL 2024 347 837 205.184 252.197 TOTAL 2023 245. 1.235 252.197 Pag• 20
CAMBRIDGE UNniERSITY CATHOUC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDEO 30 JUNE 2024 FUNDRAISING INCOME Income from fundralslng events Unrestrlettd funds 2024 Total funds 2024 funds 2023 Rembursed lees and renlal of Fth trx 1.377 1,377 612 TOTAL 2023 612 612 INVESTMENT INCOME Endowment funds 2024 Tatai funds 2024 Total funds 2023 Investmenl wKome Bart #itefest 111.69) 111,690 O,OB2 110.914 2,813 TOTAL 2024 119.772 119,772 113,527 TOTAL 2Q23 113.527 113,527 OTrIER IoME UnrÈstric¢ed R•strlthd funds funds 2024 2024 Total funds 2024 Total funds 2023 Rdmbutsement Imm ChaFIaY Chaplaincy IrKo 24.265 62,303 TOTAL 2024 62.303 12,303 24.265 TOTAL 2023 24,265 24.265 Page 21
CAM8RIDGE UNPIERsifY CATHOLIC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 311 JUNE 2024 EXPENDITURE ON RAISING FUNDS COSTS OF RAISING VOLUNTMRY WCOME Unrestrlcted funds 2024 Toial funds 2024 Total funds 2023 Prtse Pr¥)b"ng slatKw 16 6,082 16 0,082 5.496 TOTAL 2024 6,098 6.098 5.496 TOTAL 2023 5.496 5.496 ANALYSIS OF EXPENDITURE BY ACTMnES Actlvltles Grani Support & Ub)dertaken lundlng of govern dlrectty •ctlvlts"es costs {note n InotÈ 91 {note 101 2024 2024 Total lunds 2024 Total funds 2023 Chantatle exp&knthtUTe 271,443 47.724 23.816 342,983 219,838 TOTAL 2023 142.231 54,910 22,697 2t9.&36 Page 22
CAM8RIOGE UNIVERSITY CATHOLIC ASSOCIATION CIO NOTES TO THE FINANCIAL 5TATEMeNTS FOR THE YEAR ENOED 30 JUNE 2024 AfrWLYSIS OF EXPENDITURE BY ACTIVITIES ICONTINUEDI ANALYSIS OF DIRECT COSTS Total fund5 2024 Tolal lund 2023 Slaff costs Depreuth"on ChaF4aincy staff Non-domestic rates Council tax Ulthbes Insurance." proFerty & liabilrty Office supplies 8nd equip[r1 Building rnaint¢nance & repaw5 Buikjing minor wcrfks Sefajltty TdephonÈ Bank charges MiseellaneEMts ¢OSts Chaplain¢y $ts PwtrfeSSkMal lees Ecclesiaslical supF4s 57,675 26.037 79 1,504 17,127 39.753 25.199 229 1.598 10.809 7.632 3.532 32.270 3,255 42,OSO 42,267 557 842 585 7,691 6,539 854 513 4.161 5.802 S6.396 L028 1.347 2,115 2,860 271 142,231 INVESTMENT IAANAGEhlEMT COST8 Endty*mofit funds 2024 Total funds 2024 Totsl fur$ 2023 Investment management fees 2,304 2.304 Page 23
CAM8RIDGE UNIVERSITYCATHOUC ASSOCIATI(IN CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3D JUNE 2024 ANALYSIS OF GRANTS Gran15 to Grants to 1nsii14thon5 IndlvNlua15 2024 2024 Total funds 2024 Totsl lunds 2023 Total grants 43.879 3,845 47.724 54,910 TOTAL 2023 47.540 7.370 54.910 Th? ¢harityhas made the fdh).ng matwial gr to dwirKJ the year.. 2024 2023 chap1a1y- Ge[al cy. Lit¥ary Fi%her Soryety 38.953 500 43.870 4.426 3.170 43,079 47.540 The Assoualion's ot4ects, as definwj the Trust Deed. indude Ihe wowsion of Ihe aceomrThJdatiDn for Univetsity Oratory and the pro¥w)n ol lor a UnNersty cathC4 Chapkiin. FUTrJ1 for these objects Is prowded l(vjh grants tL) cathol Chaplaincy of the UnNersity of CaTr4itbJe th8t are uso. Th# Associat¥)n'5 obJecl$ also irsdude m•ntenance of a library of Catholi¢ literature of an educakn.onal n8twe. Alcry th Jing T%$ and the wrtha5e of tumi14tre. as detaikd f¥)le 11. this object is additi¢W funded through $ to the Chaplrrylhat aredenoted lor use the Library. The ASlatiOn'S obj.ects also indude Ihe a1 saleguarding of calho urtwtssts thrwghout the UTh¥ersity, Ihe contribulion to Cath(th"t K¥ks of an educatbx4 or charilable natu and ihtr hohjing ol meetings or confeiences. These cknjects ale gety (ded through gr8nls to tho FishÈr Socpty. rwster8d Cambfe UThversrty 5rKaety of Cathc stLMJents. Page 24
CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO NOTES TO THe FINANCIAL STATEMENTS FOR THE YEAR ENDEO 30 JUNE 2024 ANALYSIS OF GRANTS (CONTINUED The tharilyhas made thè lollwrvJ matérial 9T8nts to irthiduals durfng Ihe yEaF'. Elizabeth Kolb Memorial Granls 3.845 7,370 3,845 7,370 In accordan Ihe awns ol Ihe KoJ Mem1 Tntsl Iregistered ¢haiity 3141921. whose assets are held by the ASla. Ihe Assroakn makes gwts frorn the reslricled Kolb Fund on the instructions ol that Trust's Trustees. The grants We one-off payments wAlh no ong(¥ng liability to th8 Assouat40n Kolb grants awarfed lo 8 [2023: 7) as ireded by the Trustees of the Elizalxth Kolb emoiial TrLSSI. 10. SUPPORT COSTS Total funds 2024 Total fvnds 2023 Support 2024 2024 OffKe suppties and equipment InSJrare.' indemnty Notional conlrtsrtw lo u*"&ty 1$ Athyil fee Ar£ount5 preparation l•e Wages and salanes 243 243 1,013 132 1.013 153 9.500 3.160 8,739 1.013 12,300 12,300 8.846 14.681 9.135 23.816 22,697 TOTAL 2023 13.e73 9.024 22,697 Pa9? 2$
CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YENR ENDED 30 JUNE 2024 STAFF COSTS. TRUSYEES REMUNERATION AND EXPENSES. ANO THE COST OF KEY MANAGEMENT PERSONNEL 11. 2024 2023 Wage5 and 581anes ial security ¢4)$1s Contnbution to dèfined pÈnsTh 6ckne5 69.970 4,401 2,150 42.016 4,338 2.138 66.621 48,492 average D¢Anr of pwS0 enwoyed by chaitydurry Ihe y was as IOW5. 2024 2023 Emo>e$ The average UnI essed as tun-lvne equivaknts was. 2024 No. 2023 No. The key management personnd of the ¢W Comprraes the Tte$. The Truslees 1 give thwr thme and eXPeSe Trmlhout any kmd of reneral ty other beneffts in kwwJ12023.. £nl). Although Trustees ar& r(wbnely retmkned lor purthaS made diredy on hall ol Ihe Asg0¢i•knon. no other expenses hav• been rein*ud to Ihe A$sca'S Tntstee$12023" £nill. Page 26
CAMBRIDGE UNIVERSITY CATHOUC ASSOCIATIOM CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIIDEO 30 JUNE 2024 12. INTANGIBLE ASSETS Comput software COST Adthons 9,000 At 30 June 2024 9.000 AMORTISATION Charge for the year 250 At 30 2024 250 NEf BOOK VPLUE AI 30 June 2D24 8,750 At 30 June 2023 Page 27
CAMBRIDGE UNIVERsrrY CATHOLIC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEiiieNTS FOR THE YEAR ENDED 30 JUNE 2024 13. TANGt8LE FIXED ASSETS Fth01 Flxturts and PToperty Ilttlngs Total COST At 1 Juty 2023 1.750.OC•) 180,315 1.930.315 At 30 ne 2024 1,7SOmO 180,315 1.•30.315 OEPRECIATION Al 1 July 2023 Chargo for 135.IXID 15.0110 65289 10.787 200,289 25.787 At 30 Jur 2024 150,000 76.076 226.076 NEf BOOK VPIUE At 30 Jur 2024 1.600.1100 104.239 1,704,239 AI 30 Junè 2023 1.615,000 115.026 1.730.026 14. AXED ASSET INVESThlENTS Cash held Listed for Investments In¥estmen¢ Total COST OR VALUATION Al 1 J4Jly 2023 Addiknons Disposals Revaluations Movement in cash 4.605,722 849,914 1880,0441 589.496 304307 4914.029 849,914 1860.0441 589,498 117,514 117,514 AT30JUNE 2024 5.185.088 425,B21 5,610.909 Page 28
CAMBRIDGE UNIVERSITY CATHOUC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 14. FIXED ASSET INVESTMENTS (CONTINUED) Llsted Investments In¥e$ltnent in equrtigs fixed interesl a all traded n wrAed public maFkets. pnmarily the London Stock Exchange. Hddings in in¥estrnenl rls. unil trusts * openotxled Investment companies are at the bK1 pric•. The basi% ot fair vaue fr)ryited investments 15 equN81ent to the market value. using the bid price. Assel sales and purchases arè recognised at date of trad• at cost Ithal is ghr transxlw Wal). l inve5tmenis are Car{ at their fay vakE. The PK¥tkkn was invested usmg knv cosi iThlex tk1j funds fdk)wing Ihe FTSE BCe as581 allorAtirffi. The signficance of fJnan(ial inStrumts lo Ihe cwg financial sustainats'lity of Ihe Chanty is consider1 in thB fala1 VIeW and inveslment p(thcy and perfornance se¢l)ns ol Ihe Trustees. Annual Reptsrt The obiect¢ves of th• ftmds hekl by CUCA aTe to provwje kng t•rm wtrwth by InvestsrvJ a p01> of quoted ex¢hange liJed lunds eyp3¢ towothide eqthbes, fixed interest stocks. prop•rty, qotd, ¢ash aTvJ money martet instrtEments. The fimd has kltte exposw• to CTedit cash lfvyw rr5k. Thre a no b)Ncwngs or unlisted secuiities of a material Thare and so is IAUe exposure to ukylfy fisk. The mwn risks it fates from ils financial instrurrnis are market foreign Currency inl¢re$t rate risk. Th8 po&cies are eWed for Managi these risks in order lo lokn and athieve Ihe inveslment 9ctive. 15. DEBTORS 2024 21Y23 Gift aid leIVatIe Other debiors 7,313 6,516 5,942 12.593 13.829 18.535 16. CREDITORS: MIOUNTS FALUNG OUE WITHIN ONE YEAA 2024 2023 Accmjals 37.S13 18.626 Page 29
CAMBRIDGE UMIVERStrY CATHOUC ASSOCIATKW CIO NOTES TO THE FINANCIAL STATEMENT3 FOR THE YEAR ENDED 30 JUNE 2024 17. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEPJI Balance at 30 June 2024 Bafanee * 1 Juty 2023 Twan51ers Inloui Galn51 ILossts} Incomfr Expend6tUfe UNRESTRICTED FUNDS DESIGNATED FUNDS Property rnainlenaKÈ lund Capit •xpwYlitu 200.)0 1SI.733 200.00(J 20D,000 400,(0 142.267) 357,733 GENERAL FUNDS Cawtsl reserv• lund un$trIcd fd$ 1.61&000 1140001 1,600.000 524,375 205J77 (224.4241 1117B7 618.115 2,139J75 20S,371 {239.424} 112.787 2,218,115 TOTAL UNRESTRICTED FLINDS 2.$39.375 205,377 1281.6911 112.787 2,S75,848 ENDOWMENT FUNDS Main Endovmienl Fund Kolb Fund- Caprfal Kolb F¥nd . unspent IrKorr 3,719N3 105288 110251 (1032631 $09.373 4,229.246 167.683 23.091 190.774 10,915 202,049 131.492 4,773 5.719 13.937) 1110} 11.751 229,716 149.498 11,687 Slopp FUF Gilbey FuThJ Lawam Fund 1S,6091 13,6501 126SI 27.667 18,006 1.306 Page JO
CAM8RIDGE UNIVERSITY CATHOLIC ASSOCIATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED JO JUNE 2024 17. STATEMENT OF FUNOS ICONTINUEOI STATEMENT OF FUNDS- CURRENT YEAR (cont1nrtI Balance at 30 June 2024 BalwKe at 1 Juty 2023 Transfers Inlout Galnsl IL05sesl In Expe*ttle 4.241.556 120.609 16.1491 {112,7871 579,443 4,822,672 RESTRICTED FUNDS Other Ettle$ia$bcal $UpF4 Fund Chaplwncy 347 1347) 1120 11.0001 161198) 1.120 105 1120 650 {63.$45) 122S TOTAL OF FUNDS 6,783,051 388.636 13S1.384 SY9,443 7.300.745 Ptye 31
CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIAnoN CIO NOTES TO THE FINANCIAL STATEIJIENTS FOR ThE YEAR ENDED 30 JIJNE 2024 17. STATEMENT OF FlDs ICONTINUEDI STATEMENT OF FUNDS. PRIOR YEAR Balan 81 30 June 2023 88nIx at 1 Juty 2022 Transfers Gainsl (Losses) UNRESTRICTEO FUNDS DESIGNATED FUNDS Property maintenant fund Capilal expenditu nd 2(MJ,CJ 200.(KJO ,000 I.)0 2,c 41X).O(Ki GeNERAL FUNDS Captsl reser fijnd Unrestrided funds 1.630,1)JO {1S.tn)) 1,615.000 544.617 270,839 I2(.084) 1gJ,997) 524.375 2,174.617 270.839 {215.0841 I.997) 2,139.375 TOTAL UNRESTRICTED FUNDS 2.374,617 270.839 1215.084) 109,003 2.539,375 ENOObYMENT FUNDS Main End(yment Fund l(olb Fund - ca81 bFund- unspenl inccfr opp FWKI Glbey Fund iangham Fur¢1 3,691.315 1LKI.IYJ4 (1C(1.0341 28,558 3,719.873 166.392 1.291 187.683 13.761 200.498 130.483 7,934 4.524 5.433 17,3701 10.915 202.049 131.492 15.4331 1.551 I,OD9 375 Page 32
CAMBRIDGE VNIVERsrrY CATHOUC ASSOCIATION CIO 14OTES TO THE FINAIICFAL STATEMENTS FOR THE YEAR ENOED 30 JUNE 2024 17. STATEMEKf OF FUNDS ICONTWUED STATEMENT OF FUNDS- PRIOR YEAR {CONTINUED Balance at 30 June 2023 Trartsfers inlLWt Gainsl (Losses) 1 thJty2022 4.210.383 114.762 (1.3701 1108.6281 32.409 4,241,556 RESTRICTEO FUNDS Sermon books 375 13751 Ecclespastical 'es 12.8801 2.120 375 12.8801 1375) 2.120 TOTAL OF FUNDS 6.585,375 YaJ.601 (225.3341 32,409 6.783,051 Page 33
CAMBRIDGE UNIVERSITY CATHOUC ASSOCIATION CIO
NOTES TO THE HIIANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
17. STATEMENT OF FUNDS {CONTINUED}
Unrtstrlcted funds:
The Ca181 Reserve Fund refers to the wal of lh8 freehokl property krbtyyn as Fisher House. kn¢aled
GuihJhaN Street. Cambrbjge C82 3NH.
In Ihe financial yea¥ ending 30 June 2016. Ihe Assouabon CeNed a large legacy as a bequest Irom tha
te Prof8ssor Htr•Mrd Etskine-Hrfl, a membet of the Assocw1, and the Trustees $01¥ed to invest it
aFcmgs¥Je the PIk)ll0. altw Ihe ldS are unreslThd ratsr Ihan enthJwment. This is included
the other unrestricted furth.
Oeslgnaled Funds".
The property m?intenan¢e rewesents fJS requwwj fry fftjbj Maintena oftr fhold prtspèrty.
wAlal expeniJitur• hHKI re[ents (urMJ5 al0 to lutUTe Cavtd eXpendIbJ.
Resirlcted lunds".
The sermon bc4Jks fuThl C(515 of a dc11( ILxYards the pmtw arKJ L$tributvJn of Ihe lale Falher
M¥k's Se( books and inchbjes donatThs receNgd th4ar(Is thè wc
CAMBRIDGE UNIVERSITY CATHOLIC ASSOCIAT1014 CIO PIOTES TO THE FINANCIAL STATEMENTS FOR THE YEAJI ENDED 30 JUNE 2024 18. ANALYSIS OF NET ASSEfs BEfwEEN FUNOS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT PERIOO UMstrIcted RestFlcted Endowment fvnds lurkds lunds 2024 2024 2024 Total nds 2024 TNe fixed assets Intangible fL¥ed assèts Fixe(l asset investments Current assels CredrtC¥S ¢kn ilhin Or ye 1.704.239 8,750 811,676 1.704.239 8.750 5.61D.909 113.360 137,5131 4.799,233 23.439 137.5131 TOTAL 2,575,848 1,Z25 4.e22,672 7.399,745 ANALYSIS OF NET ASSETS BETYK FUNDS. PRIOR PERIOD Unrestricted Reslrictsd Endownent hjnds fund5 funds 2023 2023 2023 Tolal funds 2023 T8TrJbble fjxe(l assets Frxed asset invrnents Current assets Ctedrfors due wrtlmn tsie ye 1.730.026 692.930 135,045 11B.6261 1.no,tr26 4.914.028 157,623 118,826) 4221,098 20,458 2.120 TOTAL 2.539,375 2.120 4,241.556 6,783.051 19. PENSION COmMITNTs The thanty owates a define(I contrbJ1 pensK>n scheme. Tho ¥ssels of the Scheme are hdd sep•ately from those of Ihe chanty an VKbependenity a(kninY6tered fund The penon cosl charge represents cimtnbubons payab by the charity to Ihe lund and amounted to £2.150 12023" £2.1381 ontribuknons totallino £11912023. £251 were payabk lo futKI al the balarKe sheet date. RELATEO PARTY TRANSACTK)NS Dunng the repjrtry t1 dty*lbJns reCeN Irustees in the ypar, wthout coTrJitions amn to £9.7e612023'. £8,397). There have been no othèr rekted p&ty transxtiLTh Ihat reqwe discl)sure {223. th1). Page 35