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2022-12-31-accounts

Salesians of Don Bosco UK

Consolidated Annual Report and Accounts

31 December 2022

Charity Registration Numbers 233779 (England and Wales) SC039294 (Scotland)

Contents

Reports

Reports
Reference and administrative details
of the charity, its trustees and advisers 1
Trustees’ report 3
Independent auditor’s report 23
Accounts
Consolidated statement of
financial activities 28
Charity statement of financial activities 29
Balance sheets 30
Statement of cash flows 31
Principal accounting policies 32
Notes to the accounts 40

Salesians of Don Bosco UK

Reference and administrative details of the charity, its trustees and advisers 31 December 2022

Trustees Rev James Gerard Briody SDB
Rev Anthony Francis Fernandes SDB
Rev James Robert Gardner SDB
Rev Saju John SDB
Rev Martin Gerard Poulsom SDB (resigned 15 August
2022)
Rev Francis Preston SDB (appointed 15 August 2022)
Rev Jakub Wojciech Ruszniak SDB
Custodian trustee S.D.B. Trustees Limited
Registered office Salesian Provincial Office
Thornleigh House
Sharples Park
Bolton
BL1 6PQ
Telephone 01204 600720
Facsimile 01204 309874
Website www.salesians.org.uk
Charity Registration Numbers
England and Wales 233779
Scotland SC039294
Auditor Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers Royal Bank of Scotland plc
St Ann Square Branch
St Ann Street
PO Box 320
Manchester
M60 2SS

Salesians of Don Bosco UK 1

Reference and administrative details of the charity, its trustees and advisers 31 December 2022

Investment managers Rathbones Investment Management Limited 8 Finsbury Circus London EC2M 7AZ Abrdn 280 Bishopsgate London EC2M 4AG Cazenove Capital Schroder & Co. Limited 1 London Wall Place EC2Y 5AU Solicitors Addleshaw Goddard LLP One St Peter’s Square Manchester M2 3DE

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Trustees’ report 31 December 2022

The trustees present their report together with the accounts of the Salesians of Don Bosco UK and its subsidiary, Salesian College Farnborough Limited, for the year ended 31 December 2022.

The accounts have been prepared in accordance with the accounting policies set out on pages 32 to 39 of the attached accounts and comply with the charity’s governing document, applicable laws and 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 United Kingdom and Republic of Ireland (FRS 102).

Introduction

The object of the charity is to apply the capital or income of the charity for such charitable purposes as shall advance the religious, educational and other charitable work of the British Province of the Salesians of Don Bosco ('the Congregation'). If at any time the Congregation shall cease to carry on religious or other charitable work within the Province, then the capital and income is to be applied for such other lawful charitable purposes connected with the advancement of the Roman Catholic religion as the trustees shall determine.

The accounts accompanying this report are the accounts of the charitable trust which holds the assets of the British Province of the Salesians of Don Bosco.

Mission

St John Bosco (1815 – 1888), a Roman Catholic priest (Don Bosco), was a tireless worker on behalf of young people in Turin, Italy, especially the poor, the homeless and the uneducated. Through a range of educational, religious and other activities he helped them to become ‘good Christians and honest citizens'. The religious order that he founded (the Salesians of Don Bosco) with 14,500 members continues his work

in 133 countries. In 2009 the Province celebrated the 150th anniversary of the founding of the Salesian Congregation by St John Bosco, in 2012 celebrated 125 years since the first Salesians came to England to a parish and school mission in Battersea, and in 2015 celebrated the bi-centenary of the birth of John Bosco.

The aims of the charity are to deliver the mission of the British Province of the Salesians of Don Bosco as enshrined in the Constitutions of the Congregation. Key elements of this mission, in quotations from the Constitutions, are as follows:

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Trustees’ report 31 December 2022

Mission (continued)

Policies

The policies adopted in order to fulfil our mission have been developed over the 130 years since the Salesian Congregation started work in the UK. They include:

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Trustees’ report 31 December 2022

Objectives, activities and relevant policies

Activities and Specific Objectives

The main purpose for which the Salesian Congregation was founded is the Christian education and pastoral and practical care of young people, especially those in most need of help and support. The specific ongoing activities which are in place to achieve these objectives in this Province are detailed below.

Parish, Social and Pastoral Work

We have the responsibility of seven parishes with nine Salesians involved in parish ministry in Battersea, Chertsey and Farnborough in the South-East, Bollington and Bootle in the NorthWest. Following the year end, on 31 January 2023, we also became responsible for parish ministry in Bolton. Several of our parishes include areas with high levels of social deprivation.

Education

There are five Salesian secondary schools in England. During 2022, three were voluntary aided. Two of these are under Salesian trusteeship (Bolton and Bootle) and since September 2011 one (Battersea) is under joint trusteeship with the Southwark Archdiocese. Following the year end, on 1 January 2023, The Salesian School at Bootle, Savio Salesian College, became The Salesian Academy of St John Bosco, an academy school within the Pope Francis Multi Academy Trust, which was established by the Archdiocese of Liverpool on the same date. The Salesian School at Chertsey, a Salesian foundation, previously a voluntary aided school under the trusteeship of the Diocese of Arundel and Brighton, became a founder member of the Xavier Catholic Education Trust on 1 September 2016.

The Salesian College at Farnborough, an independent school since 1902, was established as a separate charitable company (Salesian College Farnborough Limited) from 1 September 2009. The results of Salesian College Farnborough Limited are included in the consolidated financial statements of the Salesians of Don Bosco UK. The principal object of this charity as enshrined in the Memorandum of Association is ‘the advancement of the religious and other charitable work of the Salesians of Don Bosco UK.

The schools in Battersea, Chertsey, Bolton and Bootle are coeducational comprehensives serving their local areas. While several members of the Province work full time as teachers or school chaplains, others in initial formation work full time on a voluntary basis in chaplaincy and classroom support. Several Salesians are Governors in our secondary schools.

The Provincial on behalf of the trustees, appoints all the Foundation Governors at Bootle and Bolton, and half the Foundation Governors at the new St John Bosco College, Battersea.

Youth Work

The Province runs a youth retreat centre at Savio House, Bollington, near Macclesfield. Here short residential courses and retreats are provided for schools, mainly from Greater Manchester, Cheshire, Wirral and Merseyside. Most of the young people are from school Years 10 and 11, but some are younger. Young volunteers, working and living in the community alongside Salesians and salaried staff, provide a major part of the input to these retreats and courses. There are also day groups from schools and from parishes. Some 2,000 young people pass through each year. At the weekends, there are adult groups of various kinds.

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Objectives, activities and relevant policies (continued)

Youth Work (continued)

Other forms of non-formal youth work in the Province and abroad are directed from the Salesian Youth Ministry Office based in Bolton since 2020 to link with Social Communications, Publications and the central Province administration. Activities include parish youth ministry, training courses and activities for young youth leaders, summer activities and safeguarding training.

Overseas Activities

There are a number of our Salesians priests working abroad in Kenya, Zimbabwe, South Africa, Hong Kong and Malta.

Social Media Communications and Publications

Don Bosco Publications publishes and distributes a range of books on Salesian approaches to youth ministry, education and spirituality. The Office of Social-Media and Communications uses digital multimedia channels of communication to inform, animate and evangelise from a Salesian perspective, with a focus on Salesian youth ministry. They are an important way of spreading the Salesian charism, supporting and informing others working in education and youth and parish ministry. These are based in Bolton.

Mission Office

The Mission Office, based in Bolton, seeks to promote the missionary dimension of our Salesian charism by encouraging missionary awareness and raising and distributing funds to our overseas Salesian projects.

Volunteers

In addition to the work of the volunteers at Savio House, a great deal of volunteering takes place across the Province. Volunteers contribute in many ways to parish life, facilitating the life of the parish community (liturgy, music, Eucharistic ministry, hospitality) and supporting the parish priest by visiting the housebound and the bereaved, preparing candidates for the reception of the Sacraments, running youth clubs, etc. The Youth Ministry Team, through its BOVA (Bosco Volunteer Action) sub-group, promotes volunteering abroad, finding placements, providing training and follow up.

There are volunteers involved in various support groups in the Province, such as Finance, Investment and Property Committee.

Lay members are also part of the Community Support Team which reviews the support being provided for elderly confreres.

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Objectives, activities and relevant policies (continued)

Investment Policy

The Trustees regularly review their Investment Policy to ensure that it reflects their attitude to risk and the charitable objectives of the Trust. They are committed to a socially responsible approach to investments and the policy determines a number of parameters and requirements for the management of their investments. These include:

Under the guidance and advice of the Charity’s Finance, Investment & Property Committee (FIP) , the Trustees delegate full discretionary management to Investment Managers who determine investment strategies in line with the Investment Policy. Quarterly meetings are held by the FIP with the Investment Managers on a rotational basis to review the performance of the funds invested and to monitor compliance with the Investment Policy. The current Investment Managers are detailed on page 2 of this Report.

Public Benefit

In formulating the charity’s aims and in planning the work of the members of the Congregation, the trustees have had regard to the general guidance published by the Charity Commission on public benefit.

Achievements and performance

In this report for the year ended 31 December 2022, the three main activities, Savio House Bollington , Youth Ministry and Publications, together with reports from our Overseas Beneficiaries that have benefitted from the Charity, are included.

Savio House – Bollington

The recently installed MUGA (Multi-Use Games Area) was funded by the Salesians of Don Bosco UK from a generous legacy of the late Mr Brealey. The facility has been used extensively by all the groups of young people who visit Savio House, predominantly for football during the free-time and for other organised activities and team games during the retreat programme.

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Achievements and performance (continued)

Savio House – Bollington (continued)

The reaction of the young people is, 'Wow!', 'Great!', 'Can we play now?'. This new facility has improved health and safety as it replaced an old tarmac surface area which had become quite slippery and the supervision of the young people as it is nearer the main building.

One key element of Don Bosco's pedagogical model was 'the playground' and the MUGA really enhances the experience of this playground element that we can offer to the young people who visit Savio House.

Youth Ministry

Other forms of non-formal-youth work in the Province and abroad are directed from Bolton since 2020 to link up with Social Communications, Publications and the central Province administration. Activities include parish youth ministry, training courses and activities for young youth leaders, summer activities and safe-guarding.

Whilst many activities are coming out of hibernation after Covid, the general structure of Youth Ministry was examined and reorganised in 2022, with a new team being built alongside the Youth Ministry Delegate and Assistant to the Delegate. That work continues into 2023.

Publications – Don Bosco Publications and Salesian Link

The work of Don Bosco Publications is to promote Salesian perspectives on youth ministry, Catholic education, and spirituality through published works, the thrice-yearly Don Bosco Today magazine and the Salesian Calendar. The work of Salesian Link is to use digital and multimedia channels to inform, educate, animate, and evangelise.

St John Bosco was an innovative user of the means of communication of his time to promote his work for young people and to catechise and evangelise in response to the needs of his day. Salesian Link continues to communicate a gospel-based Salesian Spirituality that responds to the needs and aspirations of the young people of today through the devices and media platforms in common use. It is also the regular means of communication and news within the Province and the wider Salesian Family. Father Bob Gardner SDB, Vice-Provincial, has overall responsibility for both Salesian Link and Don Bosco Publications, assisted by a full-time employee at Salesian Link and two full time employees at Don Bosco Publications.

Twelve new books were published in 2022:

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Achievements and performance (continued)

Publications – Don Bosco Publications and Salesian Link (continued)

There were also reprints of:

Overseas Beneficiaries

Don Bosco, Shinyanga (Tanzania)

Our overseas work (through Bosco Volunteer Action) also came out of hibernation in 2022 – partnering with the Salesian school in Shinyanga, Tanzania, we were able to:

The Youth Ministry Delegate met many of the young people who are being supported.

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Achievements and performance (continued)

Overseas Beneficiaries (continued)

Parish of St Monica, Rongai (Kenya)

The money sent to the parish of St Monica’s, Rongai over the last twelve months has been used for three specific purposes:

1. Schooling and Food (£17,150)

3. Schooling and Clothing (£5,500)

Don Bosco Ashalayam

Don Bosco Ashalayam Kolkata Trust is grateful to the Salesians of Don Bosco UK for the generous donation for the benefit of underprivileged children. The donation of £20,000 plays a significant part in providing education, shelter, nutrition and medical assistance for such children in the twin cities of Howrah and Kolkata. The said donation has been utilised for capacity building and education sponsorship of underprivileged children residing in DBA Hostels, slums and the street.

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Achievements and performance (continued)

Overseas Beneficiaries (continued)

Don Bosco Ashalayam (continued)

Education & residential facilities for deprived children

Children living in streets and slums and delinked from education are encouraged to go to regular schools; those who need residential support are offered hostel facilities respecting children’s rights. Regular follow-up with psychosocial support helps children to stay on with their decision to complete their education. Most children coming to our hostels are firstgeneration learners and before enrolment in formal schools are prepped with literacy and numeracy skills in our Bridge Schools located in Liluah and Kalyani.

Life skills, counselling, sport and life skills workshops are conducted every month to prepare adolescents and teens to cope with life’s challenges. The LSE sessions are conducted in batches and cover all children from class 8 onwards. Individual and group counselling and therapy sessions are conducted every week. Ashalayam children get opportunities for variety of sports like football, basketball, rugby, hockey, skating, cycling, karate, and swimming.

Medical assistance

Medical assistance, such as consultations with doctors, the provision of medicine and hospital visits are provided as required.

Outreach Activities

Children living in slums and on pavements are contacted by our outreach team. Education deprived children and drop-outs attend our street schools and once they learn the basics are helped with enrolment in the school nearest to their dwelling place. Awareness programs on health, hygiene, de-addiction, child marriage and child protection issues are held every

month. The children’s gathering (Mela) takes place on the first Saturday of the month. Dropout youths are encouraged to take up skill training to become job ready and independent.

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Trustees’ report 31 December 2022

Financial review

Results for the Year

During 2022, total income amounted to £13,506,990 (2021 – £12,438,917). Of the income, a total of £10,104,876 (2021 – £8,832,563) related to the fees receivable and other income of the Salesian College Farnborough and the Retreat Centre and the Youth Centre. £1,927,715 (2021 – £2,166,548) was received by way of voluntary income, of which £1,262,934 (2021 – £1,472,964) was from legacies and donations and £681,470 (2021 – £710,273) from salaries and pensions covenanted to the charity by the members of the Congregation. Investment income and interest receivable totalled £1,154,839 (2021 – £1,271,533).

Expenditure totalled £12,703,985 compared to £10,968,554 in 2021. The total expenditure of the Salesian College, Farnborough amounted to £8,531,597 (2021 – £7,641,699) with staff costs representing a very significant proportion of this and amounting to £4,853,881 (2021 – £4,729,905). Expenditure incurred in maintaining and supporting the members of the Congregation so that, unless sick and elderly, they can engage in pastoral work and ministry amounted to £2,784,072 (2021 – £2,171,087). Expenditure on raising funds, including the fees paid to the charity’s investment managers and costs in respect of rental income amounted in total to £184,182 (2021 – £194,115).

Net income before investment losses, therefore, was £803,005 (2021 – £1,470,363). Investment losses of £4,716,900 were incurred (2021 – gains of £4,191,260), resulting in a net deficit and a net decrease in funds for the year of £3,913,895 (2021 – an increase in funds of £5,661,623). The trustees continue to take a long-term view and believe that their investment policy remains appropriate.

Reserves policy and financial position

Reserves policy

The reader will discern from the foregoing that the charity carries out a diverse range of activities and is responsible also for care and support of confrères whose average age is increasing and whose needs are changing. The trustees have examined the need for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed.

The trustees consider that, given the nature of the charity’s work and its commitments, the level of free reserves should be relatively high. Free reserves should be approximately equal to eighteen months’ expenditure.

The trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources due to timing differences in income flows, adequate working capital to cover care costs, and will allow the charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented. In particular, it will help the charity respond to the continuing significant fluctuations in world stock markets as a result of the continuing COVID-19 pandemic, geopolitical situation and other economic concerns.

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Financial Review (continued)

Reserves policy and financial position (continued)

Financial position (continued)

The group’s balance sheet shows total reserves of £67,655,061 (2021 – £71,568,956). Included in total funds is an amount of £1,364,546 (2021 – £1,343,298) which is restricted. These monies have either been raised for, and their use restricted to specific purposes, or they comprise donations subject to donor-imposed conditions. Full details of these restricted funds can be found in note 21 to the accounts, together with an analysis of movements in the year.

The trustees have designated or set side £38,383,042 (2021 – £37,299,551) for specific purposes:

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Financial Review (continued)

Reserves policy and financial position (continued)

Financial position (continued)

The tangible fixed assets fund totals £20,038,603 (2021 – £20,446,808) and is represented by those tangible fixed assets not financed out of restricted funds or designated funds.

Funds available to support the work of the confrères in the future, in particular the support of the Congregation’s missionary and youth care work, are shown as general funds on the balance sheet and amount to £7,868,870 (2021 – £12,479,299). This figure needs to be considered in the light of annual expenditure, the increasing age profile of the confrères and the need for the charity to continue to support the work of the Congregation, both in this country and overseas. It also needs to be seen in the context of the aftermath of the COVID19 pandemic, recent geopolitical events and the economic and financial challenges they bring both generally and to the group. Over the course of 2023, the trustees intend to review their reserves policy to ensure it is appropriate to the charity’s changing needs. In the meantime, they note that the level of free reserves at 31 December exceeded the level demanded by their current policy. However, the trustees are content with this position at the current time given the macro-economic and geopolitical situation which is, in part, responsible for the volatility on world stock markets experienced throughout 2022.

Investments

As at 31 December 2022 the listed investments held amounted to £34,908,471 (2021 – £40,110,791).

In broad terms, the capital value has fallen by c.£5million in 2022, of which £4.5m is due to market falls and c.£0.5million is due to cash withdrawals from the capital value to meet the liquidity requirements of the Trust. The latter is consistent with the Total Return strategy deployed by the Investment Managers.

The relative and absolute performance of the Investment Managers is monitored by the FIP Committee and regular reports are made to the Trustees for appropriate action.

In addition to listed investments, the charity and group retain two investment properties in London with a combined value of £2,250,000 (2021 – £2,325,000).

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Governance, structure and management

Governance

In terms of Canon Law, the Salesian Congregation is governed at an international level by the Rector Major and his General Council in Rome. They are elected every six years at a General Chapter which is a meeting of representatives of all provinces of the Congregation. The person responsible for the leadership of the British Province in fulfilment of its mission is the Provincial, helped by his Council.

The Provincial is appointed by the Rector Major with the consent of his Council after consultation with the members of the Province and serves a six year term in office. The Provincial Council has five members who are appointed by the Rector Major in the same way and serve for three years. The Provincial and his councillors can be reappointed.

Members of the Provincial Council are chosen for their personal qualities, their understanding and experience of the ministries of the confrères throughout Great Britain and to secure a good skills mix among them. In terms of Civil Law, the charity is an unincorporated trust governed by a Scheme of the Charity Commissioners dated 1 August 2003 (which replaced the trust deed of 7 March 1964) and is a charity registered in England and Wales - Charity Registration No. 233779, and in Scotland – Scottish Charity No. SCO39294.

The trustees of the charity are the Provincial and the five members of the Provincial Council. As all trustees are members of the Congregation they have a detailed knowledge of the work of the charity and of its structure. The training of the Provincial Council in their role as trustees is facilitated by the Provincial Economer who uses the material provided by the Charity Commission, major conferences, the Association of Provincial Bursars and the literature available from major firms of solicitors and accountants specialising in charity practice and procedures.

The names of the trustees who served during the year and those who were in office at the date on which this annual report and accounts was approved are set out as part of the reference and administrative details on page 1 of this annual report. Brief biographical details of each of the trustees are given below.

Rev James Gerard Briody was appointed Provincial in August 2016. He has twenty-two years’ experience as a secondary school teacher including ten years as a comprehensive school Headteacher at Savio Salesian College in Bootle. In addition, he has many years’ experience of less formal youth ministry and parish catechetical programmes.

Rev Anthony Francis Fernandes has been a trustee since 1 September 2015. Soon after his ordination in 1977, in India, he was appointed as administrator of the new Salesian Formation House, after which he was sent to Tanzania where he worked as Director of the Archdiocesan Youth Centre until 1986. He was then sent to Kenya to serve as the Provincial Economer of the East African Province for nine years and was then appointed as Director of the Technical School in Tanzania. He then served as Shrine Director in Nairobi for nine years until 2005. In 2008 he joined the British Province and was Rector of the Salesian Community at Savio House Youth Retreat Centre, Bollington from 2014 to 2016.

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Governance, structure and management (continued)

Governance (continued)

He took the position of Provincial Economer on 15 August 2020 and now has the responsibility of managing the business of the charity on behalf of the trustees and works full time at the Provincial Office in Bolton.

Rev James Robert Gardner has been a trustee and Vice-Provincial since 1 September 2015. He previously served as a trustee from 2004 to 2010 with responsibility for Youth Ministry. After ordination in 1991 he spent twelve years in Easterhouse, Glasgow, where he worked in youth projects, a job creation scheme for unemployed young adults, as chaplain for three years to a further education college, and was for five years a member of the ‘Children’s Panel’. In 2000 he completed his postgraduate in Management Studies at Glasgow Caledonian University. He was a trustee of a children’s mental health charity for two years. After six years working in youth ministry, he was appointed to lead social media and communications in the Province and in 2016 to be responsible for publications.

Rev Saju John has been a trustee since September 2018. He joined the British Province in 2011 after service at the Salesian headquarters in Rome in the area of IT support and then studied for a masters degree at the Institute of Education in London. He is currently full-time chaplain at Thornleigh Salesian College, Bolton.

Rev Martin Gerard Poulsom has been a trustee since 1 September 2016. He was Lecturer in Systematic Theology at Heythrop College, University of London, from 2006 and Head of Theology from September 2015. He is currently Senior Lecturer in Systematic Theology at Roehampton University. He has experience of three years’ full-time parish ministry and over twenty years’ experience of youth ministry and work with young adults, including running residential retreats, leadership training for youth ministers and various forms of music ministry, and ecumenical work. He is active in advocacy in the area of Justice, Peace and the Integrity of Creation. He has been a member of the Province Formation Commission since 2012 and took over responsibility for the initial and on-going formation of the Salesians of the British Province from September 2016. He stepped down as a trustee in August 2022.

Rev Francis Preston has been a Salesian of Don Bosco for almost 60 years. Before his priestly ordination, he taught for three years at a Salesian school in Cape Town, South Africa. After his ordination, Father Francis taught at the Salesian College, Farnborough and the Loreto Sixth Form College, Manchester. In the early 1990s he spent six years as the Director of the Salesian novitiate in Dublin. In 1998, Fr Francis was appointed Provincial of the British Province of the Salesian Congregation. After completing his six year term as Provincial, Father Francis spent six years in Jerusalem as the rector of the Salesian Theological Study Centre for the training of students for the Salesian priesthood. More recently, Father Francis spent six years at the Salesian THEOLOGICAL Study Centre in Nairobi, Kenya. As a member of the Provincial Council, Father Francis oversees the training of the young Salesians whose studies in the UK the British Province is sponsoring.

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Governance, structure and management (continued)

Governance (continued)

Rev Jakub Ruszniak has been a trustee since 15 August 2020. He was born in Gdansk, Poland and studied philosophy for two years in the Salesian Seminary (WSDTS) in Ląd, Poland. He then completed his practical training in Chertsey, England focusing mainly on the chaplaincy ministry in a Salesian secondary school. Following this, he completed his theological studies in Jerusalem, Israel and was awarded BA in Catholic Theology (STS, Jerusalem Campus). On 13 June 2015 he was ordained as a priest in Rumia, Poland. He then began his ministry in Bootle, England, as Chaplain in Savio Salesian College, a Catholic secondary school. During his ministry in Bootle, he began part-time studies at Hope University in order to obtain a Masters Degree in Pedagogy and Religious Education. Having completed his degree, he is currently undertaking initial teacher training. He is also involved in the parish ministry in the local parish of St James, Bootle.

Trustees’ Responsibilities

The trustees are responsible for preparing the trustees’ report and the accounts in accordance with applicable law and the required Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) .

The law applicable to charities in England and Wales and in Scotland requires trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and application of resources of the charity for that period. In preparing these accounts, the trustees are required to:

The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, the relevant Charity (Accounts and Reports) Regulations, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the charity’s constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Governance, structure and management (continued)

Trustees’ Responsibilities (continued)

The trustees, led by the Provincial are ultimately responsible for the policies, activities and assets of the charity. They meet each month for one and a half days to discuss Province business, receive reports, and make decisions. There are two longer meetings in March and September to allow for reflection, evaluation and strategic planning. Each year the Provincial makes a formal personal visit to each community in the Province to ensure that the work of the Congregation is being carried forward in the best possible manner.

Key management responsibilities and personnel

In canon law, overall responsibility for the management of the works of the British Salesian Province rests with the Rev James Gerard Briody, Provincial, a responsibility exercised in his absence by the Vice Provincial (currently the Rev James Robert Gardner). In civil law, as an unincorporated charitable trust, the Provincial and his Council carry joint responsibility as trustees for the works of the Salesians of Don Bosco UK. In practice the business of the charity is managed on behalf of the trustees on an operational basis by the Rev Anthony Fernandes, Provincial Economer and trustee, working full time from the central Provincial Office located at Thornleigh House, Bolton.

He is assisted by a small team of employed professional staff with expertise in finance and other key areas of charity management, including human resources, health & safety, risk management, property maintenance, project management, vehicle leasing and insurance provision.

The key management personnel in charge of directing and controlling, running and operating the charity on a day-to-day basis are the trustees, including the Provincial Economer. All trustees, including the Provincial Economer, are members of the Congregation and whilst their living and personal expenses are borne by the charity, they receive no remuneration or reimbursement of expenses in connection with their duties as trustees.

External legal, property and financial consultants are engaged to advise and inform the trustees’ decision making as required. The Provincial and his Council are supported by a number of committees as they exercise their responsibilities as charity trustees.

The Finance, Investment and Property Committee meets every six weeks to receive reports on the major current issues and to make recommendations about these to the Provincial Council. This Committee meets with the charity’s investment managers on a quarterly basis

and receives annual reports on (inter alia) insurance cover and provision, the vehicle leasing scheme, the staff pension scheme, health and safety implementation, and the risk assessment process.

Other teams are in place to deal with Formation, the Promotion of Vocations, Youth Ministry, Community Support with a particular focus on care for the elderly Salesians, Social Communications and various projects. Lay people as well as Salesians serve on a number of these teams. The Salesians of Don Bosco are also members of the Safeguarding Commission for Orders in Education (SCOE).

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Governance, structure and management (continued)

Key management responsibilities and personnel (continued)

Local Salesian communities are led by the Rectors and domestic bursar responsibilities are covered by community members or employed staff, with guidance and support from the Provincial Office especially in relation to employed personnel matters, health & safety and property.

In respect to Salesian College, Farnborough, the charity’s subsidiary, the key management personnel comprise the Governors of the College (i.e. the trustees and directors of the charitable company) together with the senior management team comprising the Headteacher, the Deputy Headteachers, the Assistant Headteachers and the Bursar & Clerk to the Governing Body. The remuneration of the key management personnel at the College is set by the Governors, with the policy objective of ensuring that the personnel are provided with appropriate incentives to encourage enhanced performance and are rewarded in a fair and reasonable manner. The appropriateness and relevance of the remuneration policy is reviewed annually including reference to comparisons with other schools to ensure that the College remains sensitive to the broader issues of pay and employment conditions elsewhere.

The College aims to recruit, subject to experience, at the lower to medium point within a salary scale providing scope for progression and reward for excellence. Delivery of the College’s charitable vision and purpose is primarily dependent on its key management personnel and staff costs are the largest single element of its charitable expenditure.

Employees

The charity strives to be an equal opportunities employer and applies objective criteria to assess merit. It aims to ensure that no job applicant or employee receives less favourable treatment on the grounds of age, race, colour, nationality, ethnic or national origin, gender, marital status, sexual orientation or disability. Selection criteria and procedures are reviewed regularly to ensure that individuals are selected, promoted and treated on the basis of their relevant merits and abilities. All employees are given equal opportunities and, where appropriate and possible, special training to enable them to progress both within and outside the organisation. The charity is committed to a programme of action to make this policy effective, and brings it to the attention of all employees.

The charity provides pensions for all its employees using Royal London as sole provider. The Royal London provision meets all employer auto-enrolment requirements of the Pensions Act 2008.

Risk management

The trustees review the major risks facing the charity through their Finance, Investment and Property Committee which provides a detailed report to the trustees. The principal risks and the steps taken to mitigate these risks are as follows:

Salesians of Don Bosco UK 19

Trustees’ report 31 December 2022

Governance, structure and management (continued)

Risk management (continued)

Financial viability and security in order to ensure sufficient income for the delivery and continuity of the charity’s ongoing works and community presences, especially in the light of the impact of the COVID-19 pandemic, the geopolitical situation in the Ukraine and other economic pressures. The central Provincial Office employs a qualified accountant as Finance Manager to manage, monitor and oversee all charity expenditure and income for all accounts and locations, along with proper regulatory compliance, with guidance from the external Province Accountant as needed.

The Province investment portfolios are under the discretionary management of three firms experienced in the management of charity funds and commissioned to deliver an agreed level of annual income whilst preserving the capital value of the investments. The trustees’ Finance, Investment and Property Committee meeting every six weeks monitors overall Province income and expenditure and prepares the annual budget for approval by the Salesian Trustees. External auditors scrutinise relevant financial procedures and compliance matters.

At the current time, the finances and investments are being monitored especially closely given the aftermath of the COVID-19 pandemic, the geopolitical situation in the Ukraine and other economic pressures, and the potential impact of these factors on investment markets and the economy more generally.

Recruitment, retention and the proper management of staff and voluntary workers to ensure necessary levels of household, care and administrative personnel within communities, and with reducing numbers of professed Salesians, the personnel necessary to ensure the effectiveness of the works of the Province. The proper personnel management of all the trustees’ employed staff and voluntary workers is under the general oversight of the Provincial Office Manager as are all recruitment procedures to help ensure good practice and compliance with employment legislation. Personnel policies are regularly updated with associated guidance. External professional advice on all employment matters is available to the Provincial Office. The Savio House Youth Retreat Centre is dependent on the annual recruitment of young voluntary residential workers. As failure to recruit is the major risk a wellestablished process is in place through targeted alerts, notices and established links to seek to ensure the engagement of voluntary residential workers each year.

Reputational, safeguarding and insurance risks . The trustees seek through regular contact with all centres and works, through meetings with rectors of all communities, through annual meetings with all administrators and through regular administrative guidance to ensure good practice in all aspects of the charity’s work. Comprehensive insurance cover is in place to protect property, employment, safeguarding and all other liabilities carried by the charity trustees including terrorism cover for the London properties. Historical allegations of failures in due care for the charity’s beneficiaries have the potential to bring the charity into disrepute. On the occurrence of any such allegations, professional, legal and insurance advice guides the actions of the trustees and a press spokesperson has been engaged to speak on behalf of the charity. Any new safeguarding issues are referred to the Safeguarding Commission for Orders in Education (SCOE).

Salesians of Don Bosco UK 20

Trustees’ report 31 December 2022

Governance, structure and management (continued)

Risk management (continued)

Health and Safety and the proper management of associated risks . Detailed guidance on legislative requirements and good on-site local practice is overseen by the Provincial Office Manager in her role as Health and Safety Coordinator. She visits communities on a regular basis to assist with Health and Safety audits and reviews. The charity contracts with the PIB Risk Management Service (part of DE Ford, insurance brokers for the charity) for the services of a Risk Manager who is a Chartered Health and Safety Practitioner with the Chartered Institute of Occupational Health and Safety (IOSH) and on the Occupational Safety and Health Consultants Register (OSCHR). The Risk Manager makes regular site visits.

All new employees and voluntary workers are instructed as to workplace and on-site Health and Safety polices and practice and regular training and updating sessions are arranged for staff with compulsory attendance. The Province Health & Safety Coordinator submits a detailed annual report to the charity trustees reporting in the first instance to their Finance, Investment and Property Committee. The report, with an annual action plan, is a comprehensive overview of all Health and Safety matters across the Province including occupational health issues.

The quality of the provision of education in the charity’s schools. Four secondary schools are active in delivering the charity’s educational mission under the sole trusteeship of the Salesians of Don Bosco or under partnership arrangements with the local diocese. Key risks to the schools are loss of numbers, falling standards, loss of reputation, loss of a Salesian ethos, insufficient funding and failure to recruit high quality staff. In all four schools the Salesian trustees, through appointment or nomination of governors, seek to ensure that the composition of the governing bodies is such that the necessary skills are present to monitor standards, support, challenge and recruit high quality staff, promote the educational charism of St John Bosco and fully meet all statutory and legislative requirements. Salesian advisors assist with all Headship appointments.

The General Data Protection Regulations (GDPR) came into full effect on 25 May 2018 and the charity has worked to manage the risk of non-compliance through a detailed audit of data held and current practice, along with staff training co-ordinated by the Provincial Office Manager as the designated person. Clear Province policies and privacy statements have been formulated and all communities and works received GDPR compliant guidance as to the gathering, processing and storage of personal data, with no more than essential data held at local level.

In respect to Salesian College, Farnborough , the College’s governors have assessed the major risks to which the College is exposed and believe them to be those in connection with specific operational areas and the finances. Examples include loss of numbers, falling standards, loss of reputation, loss of Salesian ethos and loss of, or failure to recruit, high quality staff. The governors believe that by monitoring borrowing and reserve levels, by ensuring controls exist over key financial systems, and by examining the operational business risks faced by the College, they have established effective systems to mitigate those risks.

Salesians of Don Bosco UK 21

Trustees’ report 31 December 2022

Governance, structure and management (continued)

Risk management (continued)

The key controls used by the College include: formal written policies; clear authorisation and approval levels; vetting procedures as required by law for the protection of the vulnerable; established organisational structures and lines of reporting; formal agendas for all committee and Governing Body activity; detailed terms of reference for all committees; and comprehensive planning, budgeting and management accounting.

The Provincial Chapter convened every three years and the on-going 3-year Provincial Plan also seek to identify any risks that the charity will have to face. The trustees are satisfied that the necessary controls are in place to cope with these risks, within the constraints of their mission objectives.

Approved by the trustees and signed on their behalf by:

Rev James Gerard Briody SDB

Trustee

Approved by the trustees on: 8 July 2023

Salesians of Don Bosco UK 22

Independent auditor’s report 31 December 2022

Independent auditor’s report to the trustees of Salesians of Don Bosco UK

Opinion

We have audited the accounts of Salesians of Don Bosco UK (the ‘parent charity’) and of Salesians of Don Bosco UK and its subsidiary (the ‘group’) for the year ended 31 December 2022 which comprise the group and parent charity statement of financial activities, the group and parent balance sheets, the consolidated statement of cash flows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the accounts:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the accounts section of our report. We are independent of the group and charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Salesians of Don Bosco UK 23

Independent auditor’s report 31 December 2022

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Consolidated Annual Report and Accounts, other than the accounts and our auditor’s report thereon. Our opinion on the accounts does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the accounts, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the accounts or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

In preparing the accounts, the trustees are responsible for assessing the group’s and the parent charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charity or to cease operations, or have no realistic alternative but to do so.

Salesians of Don Bosco UK 24

Independent auditor’s report 31 December 2022

Auditor’s responsibilities for the audit of the accounts

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur. Audit procedures performed by the engagement team included:

Salesians of Don Bosco UK 25

Independent auditor’s report 31 December 2022

Auditor’s responsibilities for the audit of the accounts (continued)

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

As part of our consideration of the above areas, we also reviewed the audit work undertaken by the auditor of the charity’s subsidiary, Salesian College Farnborough, to satisfy ourselves that comparable procedures to those undertaken on the parent charity had been undertaken. Where necessary, the above procedures were extended to cover the College.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing Standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Salesians of Don Bosco UK 26

Independent auditor’s report 31 December 2022

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and with regulations made under section 154 of that Act, and in accordance with Section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL

29 July 2023

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Salesians of Don Bosco UK 27

Consolidated (group) statement of financial activities Year to 31 December 2022

Notes
Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£


Total
funds
2021
£
Income
Donations and legacies
1
Other trading activities
2
Investment income and interest
receivable
3
Income from charitable activities
4
Other income
5
Total income

Expenditure
Raising funds
. Investment management costs
. Rental property expenses
. Interest payable
Charitable activities
. Donations and support of overseas
missions
6
. Salesian College Farnborough
7
. Savio House Retreat Centre,
Bollington
8
. Ministry of the members of the
Congregation and their support
9
. Publicity and promotion
10
Other expenditure
Total expenditure

Net income before net (losses)
gains on investments
Net (losses) gains on investments
17
Net (expenditure) income
13
Transfer between funds
Net movement in funds

Funds reconciliation:
Balances brought forward
at 1 January 2022

Balances carried forward
at 31 December 2022
 1,584,515

42,328
1,151,754
10,094,701

277,232
343,200

—

3,085

10,175

—
1,927,715
42,328
1,154,839
10,104,876
277,232
1,707,981
45,349
1,271,533
8,832,563
115,701
458,567

—

—

—

—		 2,166,548

45,349
1,271,533
8,832,563

115,701
13,150,530
356,460		 13,506,990 11,980,350
458,567		 12,438,917
177,694
5,618
870

31,962
8,520,672

607,782
2,784,072

240,103
—
—

—

—

324,287

10,925

—

—

—
—		 177,694
5,618
870

356,249
8,531,597
607,782
2,784,072
240,103
—		 185,861
6,027
2,227
7,045
7,641,699
438,116
2,171,087
213,640
27,123
—

—

—

275,729

—

—

—

—

—
185,861

6,027

2,227

282,774
7,641,699

438,116
2,171,087

213,640

27,123
12,368,773
335,212		 12,703,985 10,692,825
275,729		 10,968,554
781,757
(4,716,900)
21,248
—
803,005
(4,716,900)		 1,287,525
4,191,260
182,838

—		 1,470,363
4,191,260
(3,935,143)
—
21,248
—		 (3,913,895)
—		 5,478,785
(318,597)
182,838
318,597		 5,661,623

—
(3,935,143)
70,225,658
21,248
1,343,298		 (3,913,895)
71,568,956		 5,160,188
65,065,470
501,435

841,863		 5,661,623
65,907,333
66,290,515 1,364,546 67,655,061 70,225,658 1,343,298 71,568,956

All of the group’s activities derived from continuing operations during the above two financial periods.

All recognised gains and losses are included in the above statement of financial activities.

Salesians of Don Bosco UK 28

Charity statement of financial activities Year to 31 December 2022

Notes
Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£


Total
funds
2021
£
Income
Donations and legacies
1
Other trading activities
2
Investment income and interest
receivable
3
Income from charitable activities
4
Other income
5
Total income

Expenditure
Raising funds
. Investment management costs
. Rental property expenses
. Interest payable
Charitable activities
. Donations and support of overseas
missions
6
. Salesian College Farnborough
7
. Savio House Retreat Centre,
Bollington
8
. Ministry of the members of the
Congregation and their support
9
. Publicity and promotion
10
Other expenditure
Total expenditure

Net (expenditure) income before
net (losses) gains on investments
Net (losses) gains on investments
17
Net (expenditure) income
13
Transfer between funds
Net movement in funds

Funds reconciliation:
Balances brought forward
at 1 January 2022

Balances carried forward
at 31 December 2022
 1,601,204

42,328
1,414,464

204,847

277,994
343,200

—

3,085

—

—
1,944,404
42,328
1,417,549
204,847

277,994		 1,724,670
45,349
1,566,090
77,785
122,924
458,567

—

—

—

—		 2,183,237

45,349
1,566,090

77,785

122,924
3,540,837
346,285		 3,887,122 3,529,595
458,567		 3,988,162
170,830
5,618
870

31,962

47,061

607,782
2,784,072

240,103
—
—

—

—

324,287

—

—

—

—
—		 170,830
5,618
870

356,249
47,061
607,782
2,784,072
240,103
—		 177,728
6,027
2,227
7,045
47,061
438,116
2,171,087
213,640
27,123
—

—

—

275,729

—

—

—

—

—
177,728

6,027

2,227

282,774

47,061

438,116
2,171,087

213,640

27,123
3,888,298
324,287		 4,212,585 3,090,054
275,729		 3,365,783
(347,461)
(4,596,173)
21,998
—
(325,463)
(4,596,173)		 439,541
4,068,929
182,838

—
622,379
4,068,929
(4,943,634)
—
21,998
—		 (4,921,636)
—		 4,508,470
(318,597)
182,838
318,597		 4,691,308

—
(4,943,634)
62,926,107
21,998
1,308,790		 (4,921,636)
64,234,897		 4,189,873
58,736,234
501,435

807,355		 4,691,308
59,543,589
57,982,473 1,330,788 59,313,261 62,926,107 1,308,790 64,234,897

All of the charity’s activities derived from continuing operations during the above two financial periods.

All recognised gains and losses are included in the above statement of financial activities.

Salesians of Don Bosco UK 29

Balance sheets 31 December 2022

Notes Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
Fixed assets
Tangible assets
16
Investments
17

Current assets
Stocks
Debtors receivable within one year
18
Cash at bank and in hand
Creditors: amounts falling due
within one year
19
Net current assets
Total assets less current
liabilities
Creditors:amounts falling due
after one year
20
Total net assets

The funds of the charity
Income funds:
Restricted funds
21
Unrestricted funds
. Designated funds
22
.. Ministry of the members of the
Congregation and their support
and retirement fund
.. Savio House support fund

.. Youth ministry fund
.. Oil line compensation fund
.. Salesian College Farnborough
fund

. Tangible fixed assets fund
23
. General funds
24		 24,757,171
37,158,471		 25,290,358
42,435,791		 20,038,603
36,227,148		 20,446,808
41,406,811
61,915,642 67,726,149 56,265,751 61,853,619


136,331
664,367
7,032,376		 111,560
1,065,914
4,655,082


136,331

198,661
2,803,132		 111,560
640,325
1,775,799
7,833,074

**(1,772,294) **		 5,832,556
(1,739,328)		 3,138,124

**(90,614) **		 2,527,684
(146,406)
6,060,780 4,093,228 3,047,510 2,381,278

67,976,422

(321,361)
 71,819,377
(250,421)
59,313,261

—
 64,234,897
—
67,655,061 71,568,956 59,313,261 64,234,897



1,364,546

 1,343,298


1,330,788

 1,308,790
15,000,000
10,000,000
5,000,000
75,000
8,308,042		 15,000,000
10,000,000
5,000,000
—
7,299,551		 15,000,000
10,000,000
5,000,000
75,000
—		 15,000,000
10,000,000
5,000,000
—
—
38,383,042
20,038,603
7,868,870		 37,299,551
20,446,808
12,479,299		 30,075,000
20,038,603
7,868,870		 30,000,000
20,446,808
12,479,299
67,655,061 71,568,956 59,313,261 64,234,897

Approved by the trustees and signed on their behalf by:

Rev James Gerard Briody SDB Trustee

Approved on: 8 July 2023

Salesians of Don Bosco UK 30

Consolidated statement of cash flows Year to 31 December 2022

Notes
2022
£		 2021
£
Cash flows from operating activities:
Net cash provided by operating activities
A
Cash flows from investing activities:
Investment income and interest received
Proceeds from the disposal of tangible fixed assets
Purchase of tangible fixed assets
Proceeds from the disposal of investments
Purchase of investments

Net cash provided by investing activities
Cash flows from financing activities:
Repayments of borrowing
Net cash used in financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 January 2022
B
Cash and cash equivalents at 31 December 2022
B

998,240		 525,562


1,154,839
1,000
(172,984)
8,059,984
**(8,805,649) **		 1,271,533
—
(186,638)
19,508,874
(17,685,254)
237,190 2,908,515


(164,221)		 (314,849)
(164,221) (314,849)

1,071,209


6,710,137
 3,119,228
3,590,909

7,781,346		 6,710,137
Notes to the consolidated statement of cash flows for the year to 31
A
B		 Reconciliation of net movement in funds to net cash provided by operating activities
2022
£
2021
£
Net movement in funds (as per the statement of financial activities) (3,913,895)
5,661,623
Adjustments for:
Depreciation charge
705,138
706,281
Losses (gains) on investments
4,716,900
(4,191,260)
Loss on disposal of tangible fixed assets
33
—
Investment income and interest receivable
(1,154,839)
(1,271,533)
Increase in stock
(24,771)
(4,446)
Decrease (increase) in debtors
401,547
(790,962)
Increase in creditors
268,127
415,859
Net cashprovided by operating activities
998,240
525,562
Analysis of changes in net debt
2021
£
Cash Flows
£
2022
£
Cash and cash equivalents
Cash at bank and in hand
4,655,082
2,377,294
7,032,376
Cash held by investment managers
2,055,055
(1,306,085)
748,970
Total cash and cash equivalents
6,710,137
(1,071,209) 7,781,346
Borrowings
Loans due within one year
(165,221)
164,221
(1,000)
Total borrowings
(165,221)
164,221
(1,000)
Total net debt
6,544,916
1,235,430
7,780,346		 Reconciliation of net movement in funds to net cash provided by operating activities
2022
£
2021
£
Net movement in funds (as per the statement of financial activities) (3,913,895)
5,661,623
Adjustments for:
Depreciation charge
705,138
706,281
Losses (gains) on investments
4,716,900
(4,191,260)
Loss on disposal of tangible fixed assets
33
—
Investment income and interest receivable
(1,154,839)
(1,271,533)
Increase in stock
(24,771)
(4,446)
Decrease (increase) in debtors
401,547
(790,962)
Increase in creditors
268,127
415,859
Net cashprovided by operating activities
998,240
525,562
Analysis of changes in net debt
2021
£
Cash Flows
£
2022
£
Cash and cash equivalents
Cash at bank and in hand
4,655,082
2,377,294
7,032,376
Cash held by investment managers
2,055,055
(1,306,085)
748,970
Total cash and cash equivalents
6,710,137
(1,071,209) 7,781,346
Borrowings
Loans due within one year
(165,221)
164,221
(1,000)
Total borrowings
(165,221)
164,221
(1,000)
Total net debt
6,544,916
1,235,430
7,780,346		 Reconciliation of net movement in funds to net cash provided by operating activities
2022
£
2021
£
Net movement in funds (as per the statement of financial activities) (3,913,895)
5,661,623
Adjustments for:
Depreciation charge
705,138
706,281
Losses (gains) on investments
4,716,900
(4,191,260)
Loss on disposal of tangible fixed assets
33
—
Investment income and interest receivable
(1,154,839)
(1,271,533)
Increase in stock
(24,771)
(4,446)
Decrease (increase) in debtors
401,547
(790,962)
Increase in creditors
268,127
415,859
Net cashprovided by operating activities
998,240
525,562
Analysis of changes in net debt
2021
£
Cash Flows
£
2022
£
Cash and cash equivalents
Cash at bank and in hand
4,655,082
2,377,294
7,032,376
Cash held by investment managers
2,055,055
(1,306,085)
748,970
Total cash and cash equivalents
6,710,137
(1,071,209) 7,781,346
Borrowings
Loans due within one year
(165,221)
164,221
(1,000)
Total borrowings
(165,221)
164,221
(1,000)
Total net debt
6,544,916
1,235,430
7,780,346		 Reconciliation of net movement in funds to net cash provided by operating activities
2022
£
2021
£
Net movement in funds (as per the statement of financial activities) (3,913,895)
5,661,623
Adjustments for:
Depreciation charge
705,138
706,281
Losses (gains) on investments
4,716,900
(4,191,260)
Loss on disposal of tangible fixed assets
33
—
Investment income and interest receivable
(1,154,839)
(1,271,533)
Increase in stock
(24,771)
(4,446)
Decrease (increase) in debtors
401,547
(790,962)
Increase in creditors
268,127
415,859
Net cashprovided by operating activities
998,240
525,562
Analysis of changes in net debt
2021
£
Cash Flows
£
2022
£
Cash and cash equivalents
Cash at bank and in hand
4,655,082
2,377,294
7,032,376
Cash held by investment managers
2,055,055
(1,306,085)
748,970
Total cash and cash equivalents
6,710,137
(1,071,209) 7,781,346
Borrowings
Loans due within one year
(165,221)
164,221
(1,000)
Total borrowings
(165,221)
164,221
(1,000)
Total net debt
6,544,916
1,235,430
7,780,346
Net movement in funds (as per the statement of financial activities)
Adjustments for:
Depreciation charge
Losses (gains) on investments
Loss on disposal of tangible fixed assets
Investment income and interest receivable
Increase in stock
Decrease (increase) in debtors
Increase in creditors
Net cashprovided by operating activities		 (3,913,895)
705,138
4,716,900
33
(1,154,839)
(24,771)
401,547
268,127		 5,661,623
706,281
(4,191,260)
—
(1,271,533)
(4,446)
(790,962)
415,859
998,240 525,562
Analysis of changes in net debt 2021
£		 Cash Flows
£
2,377,294
(1,306,085)
(1,071,209)
164,221
164,221
1,235,430		 2022
£
Cash and cash equivalents
Cash at bank and in hand
Cash held by investment managers
Total cash and cash equivalents
Borrowings
Loans due within one year
Total borrowings
Total net debt		 4,655,082
2,055,055		 7,032,376
748,970
6,710,137 7,781,346
(165,221) (1,000)
(165,221) (1,000)
6,544,916 7,780,346

Salesians of Don Bosco UK 31

Principal accounting policies 31 December 2022

DRAFT

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the accounts are laid out below.

Basis of preparation

These accounts have been prepared for the year to 31 December 2022 with comparative information provided in respect to the year to 31 December 2021.

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these accounts.

The accounts 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Critical accounting estimates and areas of judgement

Preparation of the accounts requires the trustees and management to make significant judgements and estimates.

The items in the accounts where these judgements and estimates have been made include:

Salesians of Don Bosco UK 32

Principal accounting policies 31 December 2022

DRAFT

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 at least one year from the date of approval of these accounts and have considered carefully the impact of economic circumstances on the parent charity’s and the group’s finances – both for the short term and medium term.

The trustees have concluded that it is appropriate to prepare the accounts on a going concern basis as the parent charity and group have adequate cash and liquid asset resources for future activities. Financial projections that consider the current and future impact of economic conditions indicate that the parent charity and group will continue to operate successfully and fulfil its charitable objectives.

The trustees are therefore of the opinion that the charity and group will have sufficient resources to meet their liabilities as they fall due. The most significant areas of judgement that affect items in the accounts are detailed above.

Basis of consolidation

The group accounts consolidate the accounts of the charity and of its subsidiary undertaking (see note 25) drawn up to 31 December 2021. The results of the subsidiary are consolidated on a line-by-line basis.

Income recognition

Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably and it is probable that the income will be received.

Income comprises donations, legacies, other trading income, income from charitable activities (i.e. school tuition fees and related charges and retreat centre income), investment income, interest receivable, and other income.

Donations, including salaries and pensions of individual religious received under Gift Aid or deed of covenant, are recognised when the charity has confirmation of both the amount and settlement date. In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Legacies are included in the statement of financial activities when the charity is entitled to the legacy, the executors have established that there are sufficient surplus assets in the estate to pay the legacy, and any conditions attached to the legacy are within the control of the charity.

Salesians of Don Bosco UK 33

Principal accounting policies 31 December 2022

DRAFT

Income recognition (continued)

Entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charity that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title of the asset having being transferred to the charity.

Other trading income consists of income from publication sales and is recognised when the significant risks and rewards of ownership have transferred to the buyer. This is usually at the point of sale.

Fees receivable in respect to Salesian College, Farnborough and retreat centre community and youth work are recognised to the extent that it is probable that the economic benefits will flow to the group and charity and the revenue can be reliably measured. It is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. In particular, Salesian College, Farnborough fees receivable represent gross tuition fees and related charges before deduction of bursaries in respect to enrolled pupils. Retreat Centre community and youth work income represents fees receivable for the provision of retreats and similar activities.

Investment income comprises dividends and interest receivable. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Interest payable on investment assets is recognised on an accruals basis.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

The principal components of other income comprise:

Salesians of Don Bosco UK 34

Principal accounting policies 31 December 2022

DRAFT

Income recognition (continued)

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure includes any attributable VAT which cannot be recovered.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

Salesians of Don Bosco UK 35

Principal accounting policies 31 December 2022

DRAFT

Expenditure recognition (continued)

In accordance with the Charities SORP FRS 102 volunteer time is not recognised.

Support and governance costs

Support costs or Provincial Office overheads represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprises the costs directly attributable to the governance of the charity including audit costs and the necessary legal procedures for compliance with statutory requirements.

Support costs including governance costs are allocated out to the activities they are supporting on the basis described in note 12.

Tangible fixed assets

Land and buildings

The freehold land and buildings legally owned by the charity and occupied rent free on behalf of the trustees or the governing bodies of Catholic voluntary-aided and similar schools, which are separate charities and publicly funded, are valued at £nil. The trustees consider that no meaningful value can be attributed to these assets, since they are not used directly by the charity, do not generate income and cannot be disposed of in the open market or put to alternative use while such occupation, which may be indefinite, continues.

In the event of the Congregation ceasing its ministry in a parish, the trustees would consider themselves obliged to allow assets owned by the charity but used specifically for that parish and for no other purpose to continue to be used indefinitely and rent free to meet the needs of the parish for a church and/or related accommodation. As a result such properties are excluded from the accounts.

The valuation of major non-residential properties owned by the charity as at 31 December 1997 is based on one third of their insurance value as at 31 December 1991 and is now regarded as deemed cost under the transitional provisions of FRS 102.

Salesians of Don Bosco UK 36

Principal accounting policies 31 December 2022

DRAFT

Tangible fixed assets (continued)

Land and buildings (continued)

Additions to major non-residential properties on or after 1 January 1998 are included at cost. Depreciation on such freehold buildings is calculated on a straight line basis at 1% per annum. The trustees regularly assess the state of repair and value of these properties and believe that the nature of the properties, their age and the use to which they are put mean that a 100 year depreciation period is justifiable and appropriate.

The valuation of residential properties occupied by the confrères is based on the Council Tax valuation of the buildings as at 31 December 1997 inflated by 25% to provide an estimate of their existing use basis as at that date. Under the transitional provisions of FRS 102 this valuation is now deemed to be cost. Additions to residential properties on or after 1 January 1998 are included at cost. Depreciation on such freehold buildings is calculated on a straight line basis at 2% per annum. Freehold buildings in the course of construction are not depreciated until brought into use.

Other assets

Prior to 1 January 1997 all capital expenditure (other than land and buildings) was written off as incurred. At that date the trustees entered the current cost of assets not previously shown in the balance sheet where this was available and the estimated market value as at that date where original cost was not available. Subsequent acquisitions or improvements are capitalised at cost.

Expenditure below £5,000 (Salesian College Farnborough – £500) is not capitalised.

Depreciation is calculated by the straight-line method to write off the cost/value, less anticipated residual value, over the expected useful lives of assets as follows:

Leasehold property improvements 40 years
Domestic equipment 4 years
Motor vehicles 4 years
Computers 3 years

Investments

Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing middle market price.

The charity does not acquire put options, derivatives or other complex financial instruments.

As noted above the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors.

Salesians of Don Bosco UK 37

Principal accounting policies 31 December 2022

DRAFT

Investments (continued)

The valuation of investment properties (not occupied by Salesians), which are rented out to non-Salesians, is based on current open market valuation. These properties are not depreciated.

Realised and unrealised gains (or losses) are reflected in the statement of financial activities in the year in which they occur.

Stocks

Stocks are stated at the lower of cost and net realisable value.

Debtors

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Fund structure

The general fund comprises those monies which may be used towards meeting the charitable objectives of the charity and which may be applied at the discretion of the trustees.

The tangible fixed assets fund represents the net book value of those tangible fixed assets which are not financed out of restricted funds or included in the Salesian College Farnborough fund.

The designated funds are monies set aside out of general funds and designated for specific purposes, although the trustees may ultimately use such funds for other purposes.

The restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations subject to donor imposed conditions.

Salesians of Don Bosco UK 38

Principal accounting policies 31 December 2022

DRAFT

Leased assets

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the statement of financial activities on a straight line basis over the lease term.

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those leases where substantially all of the benefits and risks of ownership are assumed by the Group. Obligations under such agreements are included in creditors, net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Statement of Financial Activities so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Pension costs

Contributions in respect of the defined benefit scheme represent contributions to the Teachers Pensions Scheme and are recognised in the statement of financial activities so as to spread the cost of pensions over employees’ working lives.

Contributions in respect of defined contribution schemes are charged to the statement of financial activities in the year in which they are payable to the schemes.

Services provided by members of the Congregation

For the purpose of these accounts, no monetary value has been placed on the care, administrative and other services provided by the members of the Congregation.

Salesians of Don Bosco UK 39

Notes to the accounts 31 December 2022

1 Donations and legacies

Group and charity Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Salaries and pensions of
individual religious received
under Gift Aid or deed of
covenant
Legacies
Mass offerings, stole fees
and clergy offerings
Other donations
Charity total
Less: Farnborough salaries
payable to parent charity
Group total		 681,470
770,802
70,409
78,523
—

67,266

—

275,934
681,470

838,068

70,409

354,457		 710,273
802,863
58,413
153,121
—

15,841

—

442,726
710,273

818,704

58,413

595,847
1,601,204
(16,689)
343,200
—		 1,944,404

(16,689)		 1,724,670
(16,689)
458,567
—		 2,183,237

(16,689)
1,584,515
343,200		 1,927,715 1,707,981
458,567		 2,166,548

The figure of £681,470 (2021 – £710,273) for salaries and pensions of individual religious is made up of £276,929 (2021 – £262,582) earned by members of the Congregation, both working and semi-retired, working in schools, seminaries and in Roman Catholic dioceses and £404,541 (2021 – £447,691) from members’ pension entitlements.

2 Other trading activities

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Publication sales
Other receipts
Total		 37,642
4,686
—

—		 37,642
4,686		 45,199
150
—

—
45,199

150
42,328
—		 42,328 45,349
—
45,349

Salesians of Don Bosco UK 40

Notes to the accounts 31 December 2022

3 Investment income and interest receivable

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Income from investments
listed on a recognised Stock
Exchange
. UK fixed interest
. UK equities
. Other investment income
Income from investment
property
. Rent
Interest receivable
. Bank interest
. Cash held by investment
managers
Group total
Less: Interest received by
Salesian College
Farnborough Limited
Less: Dividends received by
Salesian College
Farnborough Limited
Add: Interest paid from
Salesian College
Farnborough Limited
Add: Rents paid from
Salesian College
Farnborough Limited
Charity total		 134,461
913,359
608
—

—

—
134,461
913,359

608
149,973
1,075,527
770

—

—

—
149,973
1,075,527

770
1,048,428
—		 1,048,428 1,226,270
—		 1,226,270
39,467
—
39,467		 37,251
—
37,251
55,355
8,504
3,085

—
58,440

8,504		 3,287
4,725
—

—
3,287

4,725
63,859
3,085
66,944		 8,012
—
8,012
1,151,754
(42,000)
(29,931)
958
333,683
3,085

—

—

—

—		 1,154,839

(42,000)
(29,931)

958

333,683		 1,271,533
(2,323)
(39,262)
2,459
333,683
—

—

—

—

—		 1,271,533

(2,323)
(39,262)

2,459

333,683
1,414,464
3,085		 1,417,549 1,566,090
—		 1,566,090

4 Income from charitable activities

Group Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Salesian College
Farnborough fees and
related charges
Retreat centre community
and youth work income
Total		 9,889,854
204,847
10,175

—		 9,900,029

204,847		 8,754,778
77,785
—

—		 8,754,778

77,785
10,094,701
10,175		 10,104,876 8,832,563
—		 8,832,563
Charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Retreat centre community
andyouth work income		 204,847
—		 204,847 77,785
—
77,785

Salesians of Don Bosco UK 41

Notes to the accounts 31 December 2022

5 Other income
Group and charity		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Coronavirus Job Retention
Scheme and similar grants
Other government grants
Income from uplift in value of
property disposed of in prior
year following planning
consent
Compensation for the laying
of an oil pipeline
Foreign exchange gains
Miscellaneous income
Group total
Less: Miscellaneous income
Charity total		 —
3,583
175,000
88,663
10,748
(762)
277,232

762		 —
—
—
—

—
—

—

—		 —
3,583
175,000
88,663
10,748
(762)		 72,126
43,575
—
—
—
7,223		 —
—
—
—
—
—		 72,126
43,575
—
—
—
7,223
277,232
762		 122,924
(7,223)		 —
—		 122,924
7,223
277,994
—		 277,994 115,701
—
115,701

6 Donations and support of overseas missions

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£

275,729

—

275,729
Total
funds
2021
£

275,729

7,045

282,774
Missionary work of the
Congregation
abroad
Donations to other
organisations (see below)		 —
31,962
324,287

—
324,287

31,962		 —
7,045
31,962
324,287
356,249		 7,045

During the year donations comprised:

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£

—
—

—

—

—
Total
funds
2021
£

—
3,000

4,045
—

7,045
Sefton Council: Chaplaincy
Salesian College Thornleigh
Other donations under
£1,000
Salesians Nairobi		 18,066

5,600
4,666
3,630
—

—

—

—
18,066

5,600

4,666
3,630		 —
3,000
4,045
—
31,962
—
31,962		 7,045

During 2022 there were no donations made to any individuals (2021 – one).

Salesians of Don Bosco UK 42

Notes to the accounts 31 December 2022

7 Salesian College Farnborough

Group Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Teaching costs
Finance costs
Premises
Administration of the College
Marketing and publicity
Bursaries granted		 3,867,084
(211)
1,036,713
2,963,150
17,806
636,130
—

—

—

10,925

—

—		 3,867,084

(211)
1,036,713
2,974,075

17,806

636,130		 3,778,243
9,199
1,110,900
2,089,650
20,589
633,118
—

—

—

—

—

—		 3,778,243

9,199
1,110,900
2,089,650

20,589

633,118
8,520,672
10,925		 8,531,597 7,641,699
—		 7,641,699
Charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Premises 47,061
—
47,061		 47,061
—
47,061

8 Savio House Retreat Centre, Bollington

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Staff costs
Premises
Operational costs
Administration of the retreat
centre
Group and charity total		 178,005
196,581
87,586
145,610
—

—

—

—
178,005

196,581

87,586

145,610		 164,561
91,087
57,664
124,804
—

—

—

—
164,561

91,087

57,664

124,804
607,782
—
607,782		 438,116
—
438,116

9 Ministry of the members of the Congregation and their support

Expenditure incurred in maintaining and supporting members of the Congregation, so that they can engage in pastoral work and ministry, enables the members to carry out the charitable work of the charity in the areas of the advancement of the Roman Catholic faith, the advancement of education and the relief of poverty. Such expenditure comprises:

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Staff costs
Members’ living and
personal expenses
Premises
Education, training and
spiritual renewal
Allocation of Provincial office
overheads (note 12)
Group and charity total		 494,897
801,497
1,039,792
205,085
242,801
—

—

—

—

—
494,897

801,497
1,039,792

205,085

242,801		 446,889
619,748
771,371
72,636
260,443
—

—

—

—

—
446,889

619,748

771,371

72,636

260,443
2,784,072
—		 2,784,072 2,171,087
—		 2,171,087

Salesians of Don Bosco UK 43

Notes to the accounts 31 December 2022

10 Publicity and promotion: costs of goods sold and other costs

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Publication and other costs 240,103
—
240,103		 213,640
—
213,640

11 Governance costs

Group and charity Un-
restricted
funds
£
Restricted
funds
£		 Total
funds
2022
£		 Un-
restricted
funds
£
Restricted
funds
£
Total
funds
2021
£
Auditor’s remuneration 23,750
—
23,750		 24,100
—
24,100

12 Allocation of Provincial Office overheads

Group and charity Savio
House
Retreat
Centre,
Bollington
£		 Support of
members
of the
Congre-
gation
and their
ministry
£		 Publicity
and
promotion
£		 Total
2022
£		 Basis of
apportion-
ment
Staff costs
Office running costs
Administration
Travelling expenses
Professional fees
Vehicle leasing
Irrecoverable VAT
Governance costs (note 11)
Group and charity total		 19,210
7,799
3,552
2,639
25,574
1,384
7,768
4,914		 64,035
25,994
11,839
8,798
85,247
4,614
25,895
16,379		 9,605
3,899
1,776
1,320
12,787
692
3,884
2,457		 92,850
37,692
17,167
12,757
123,608
6,690
37,547
23,750		 Per
full-time
equivalent
employees
72,840 242,801 36,420 352,061
Groupand charity Savio
House
Retreat
Centre,
Bollington
£		 Support of
members
of the
Congre-
gation
and their
ministry
£		 Publicity
and
promotion
£		 Total
2021
£		 Basis of
apportion-
ment
Staff costs
Office running costs
Administration
Travelling expenses
Professional fees
Vehicle leasing
Irrecoverable VAT
Governance costs (note 11)
Groupand charitytotal		 20,893
7,870
1,766
869
34,681
1,417
9,393
5,356		 66,161
24,923
5,592
2,752
109,823
4,488
29,745
16,959		 6,964
2,623
589
290
11,560
472
3,131
1,785		 94,018
35,416
7,947
3,911
156,064
6,377
42,269
24,100		 Per
full-time
equivalent
employees
82,245 260,443 27,414 370,102

Salesians of Don Bosco UK 44

Notes to the accounts 31 December 2022

13 Net (expenditure) income This is stated after charging:

Group
Total
2022
£		 Group
Total
2021
£		 Charity
Total
2022
£		 Charity
Total
2021
£
Staff costs (note 14)
Auditor’s and component auditor’s
remuneration
. Statutory audit – group accounts
. Salesian College Farnborough
Depreciation
Operatinglease rentals		 5,688,742
17,800
18,790
705,138
100,343		 5,502,961
18,600
17,824
706,281
98,864		 834,861
17,800
5,950
408,205
100,343		 773,056
18,600
5,500
408,205
98,864

14 Staff costs and trustees’ remuneration

Staff costs and trustees’ remuneration
Group 2022
£		 2021
£
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Other pension costs		 4,478,261
457,921
752,560		 4,335,418
435,601
731,942
5,688,742 5,502,961
Group 2022
£		 2021
£
Staff costs per function were as follows:
Publicity and promotion
Youth work
Salesian College Farnborough
Savio House Retreat Centre, Bollington
Support of the members of the Congregation and their ministry
Support (note 12)		 69,109
—
4,853,881
178,005
494,897
92,850		 65,739
1,849
4,729,905
164,561
446,889
94,018
5,688,742 5,502,961
Charity 2022
£		 2021
£
Staff costs during the year were as follows:
Wages and salaries
Social security costs
Other pension costs		 741,927
60,146
32,788		 676,032
63,946
33,078
834,861 773,056

Salesians of Don Bosco UK 45

Notes to the accounts 31 December 2022

14 Staff costs and trustees’ remuneration (continued)

Staff costs and trustees’ remuneration(continued)
Charity 2022
£		 2021
£
Staff costs per function were as follows:
Publicity and promotion
Youth work
Savio House Retreat Centre, Bollington
Support of the members of the Congregation and their ministry
Support (note 12)		 69,109
—
178,005
494,897
92,850		 65,739
1,849
164,561
446,889
94,018
834,861 773,056

The number of employees receiving annual remuneration in excess of £60,000 per annum was as follows:

Group and charity 2022 2021
£60,000 to £69,999
£70,000 to £79,999
£80,000 to £89,999
£90,000 to £99,999
£100,000 to £109,999		 1
1
2
—
1		 1
2
1
—
1

One of the above employees (2021– one) is accruing benefits under a defined contribution pension scheme. Four of the above employees (2021– four) are accruing benefits under a defined benefit pension scheme.

No employees of the charity earned in excess of £60,000 during the year.

The average number of employees during the year was as follows:

Group Group Charity Charity
2022 2021 2022 2021
Publications and promotion
Provision of education
Retreat Centre
Support of the members of the
Congregation		 3
101
6
25		 2
100
6
25		 3
—
6
25		 2
—
6
25
135 133 34 33

As members of the Congregation, the trustees’ living and personal expenses during the year were borne by the charity and they received no remuneration or any reimbursement of expenses in connection with their duties as trustees during the year (2021 – £nil).

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the trustees, including the Provincial Economer, and the key management personnel of Salesian College, Farnborough, comprising the Governors of the College, together with the senior management team, comprising the Headmaster, the Deputy Headteachers, the Assistant Headteachers and the Bursar & Clerk to the Governing Body.

Salesians of Don Bosco UK 46

Notes to the accounts 31 December 2022

14 Staff costs and trustees’ remuneration (continued)

The total remuneration (including taxable benefits but excluding employer's pension contributions) of the key management personnel for the year was £480,831 (2021 – £461,047).

15 Taxation

The Salesians of Don Bosco UK is a registered charity and, therefore, is not liable to income tax or corporation tax on income or gains derived from its charitable activities, as they fall within the various exemptions available to registered charities. The charity is registered for VAT and is partially exempt.

16 Tangible fixed assets

Tangible fixed assets
Group Freehold
land and
buildings
£		 Computers
and
equipment
£		 Motor
vehicles
£		 Total
£
Cost or valuation
At 1 January 2022
Additions
Disposals
At 31 December 2022
At cost
At deemed cost
Depreciation
At 1 January 2022
Charge for year
Eliminated on disposals
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021		 31,341,033
60,634
—		 2,546,003
112,350
(195,838)		 131,314
—
—		 34,018,350
172,984
(195,838)
31,401,667 2,462,515 131,314 33,995,496
22,246,314
9,155,353		 2,462,515
—		 131,314
—		 24,840,143
9,155,353
31,401,667 2,462,515 131,314 33,995,496
6,465,641
592,434
—		 2,131,037
112,704
(194,805)		 131,314
—
—		 8,727,992
705,138
(194,805)
7,058,075 2,048,936 131,314 9,238,325
24,343,592 413,579 — 24,757,171
24,875,392 414,966 — 25,290,358

Included within the net book value of the group’s tangible fixed assets is £101,397 (2021 – £90,035) relating to assets held under finance leases. The depreciation charge for the year relating to such assets was £11,157 (2021 – £7,197).

Salesians of Don Bosco UK 47

Notes to the accounts 31 December 2022

16 Tangible fixed assets (continued)

Tangible fixed assets(continued)
Charity Freehold
land and
buildings
£
Cost or valuation
At 1 January 2022 and 31 December 2022
At cost
At deemed cost
Depreciation
At 1 January 2022
Charge for year
At 31 December 2022
Net book values
At 31 December 2022
At 31 December 2021		 25,513,231
16,357,878
9,155,353
25,513,231
5,066,423
408,205
5,474,628
20,038,603
20,446,808

17 Investments

At 31 December 2022 investments comprised:

Group and charity 2022
£		 2021
£
Freehold investment property (see a. below)
Listed investments and cash held for re-investment (see b. below)
. Investec Wealth & Investment Limited
. Aberdeen Capital Limited
. Cazenove Capital
. Rathbone Investment Management Limited (charity)
. Rathbone Investment Management Limited (Salesian College
Farnborough Limited))
Group total
Less: Rathbone Investment Management Limited (Salesian College
Farnborough Limited)
Charity total		 2,250,000 2,325,000
—
7,540,543
8,275,175
18,161,430
931,323		 416,184
8,659,491
9,406,069
20,600,067
1,028,980
34,908,471 40,110,791
37,158,471
(931,323)		 42,435,791
(1,028,980)
36,227,148 41,406,811

Movements on each category of investment are summarised below:

a. Freehold investment property

a. Freehold investment property
Group and charity 2022
£		 2021
£
Market value at 1 January 2022
Unrealised losses arising on revaluation
Market value at 31 December 2022		 2,325,000
(75,000)
2,250,000		 2,325,000
—
2,325,000

The investment properties were revalued at the year-end by the trustees with professional assistance from Foxtons.

Salesians of Don Bosco UK 48

Notes to the accounts 31 December 2022

17 Investments (continued)

b. Listed investments

b. Listed investments
Group and charity 2022
£		 2021
£
Listed investments (Investec Wealth & Investment Limited)
Market value at 1 January 2022
Additions at cost
Disposals at opening book value
Investments transferred to Aberdeen Capital Limited
Market value at 31 December 2022
Cash held in short term deposits and by investment managers
Cost of listed investments at 31 December 2022		 —
—
—
—		 8,274,319
508,215
(1,877,994)
(6,904,540)
—
—		 —
416,184
— 416,184
— —
Group and charity 2022
£		 2021
£
Listed investments (Aberdeen Capital Limited)
Market value at 1 January 2022
Investments transferred from Investec Wealth & Investment Limited
Additions at cost
Disposals at opening book value (realised losses of £434,887)
Net unrealised investment (losses) gains
Market value at 31 December 2022
Cash held in short term deposits and by investment managers
Cost of listed investments at 31 December 2022		 8,321,682
—
3,131,482
(3,111,828)
(922,397)		 —
6,904,540
4,833,413
(3,793,445)
377,174
7,418,939
121,604		 8,321,682
337,809
7,540,543 8,659,491
7,955,685 7,754,085
Group and charity 2022
£		 2021
£
Listed investments (Brewin Dolphin Limited)
Market value at 1 January 2022
Additions at cost
Disposals at opening book value
Investments transferred to Cazenove Capital
Market value at 31 December 2022
Cash held in short term deposits and by investment managers
Cost of listed investments at 31 December 2022		 —
—
—
—		 8,535,839
1,483,201
(4,272,780)
(5,746,260)
—
—		 —
—
— —
— —

Salesians of Don Bosco UK 49

Notes to the accounts 31 December 2022

17 Investments (continued)

b. Listed investments

b. Listed investments
Group and charity 2022
£		 2021
£
Listed investments (Cazenove Capital)
Market value at 1 January 2022
Investments transferred from Brewin Dolphin Limited
Additions at cost
Disposals at opening book value (realised losses of £147,659)
Net unrealised investment (losses) gains
Market value at 31 December 2022
Cash held in short term deposits and by investment managers
Cost of listed investments at 31 December 2022		 9,167,823
—
2,687,312
(3,130,119)
(742,795)		 —
5,746,260
8,353,393
(5,099,414)
167,584
7,982,221
292,954		 9,167,823
238,246
8,275,175 9,406,069
8,538,346 8,967,469
Group and charity 2022
£		 2021
£
Listed investments (Rathbones Investment Management Limited
(charity))
Market value at 1 January 2022
Additions
Disposals at opening book value (realised losses of £228,843)
Net unrealised investment (losses) gains
Market value at 31 December 2022
Cash held in short term deposits and by investment managers
Cost of listed investments at 31 December 2022		 19,556,476
2,809,501
(2,475,139)
(2,044,595)		 18,014,801
2,482,745

(3,062,847)
2,121,777
17,846,243
315,187		 19,556,476
1,043,591
18,161,430 20,600,067
14,404,761 13,675,103
Group 2022
£		 2021
£
Listed investments (Rathbones Investment Management Limited
(Salesian College Farnborough Limited))
Market value at 1 January 2021
Additions
Disposals at opening book value (realised losses of £10,663)
Net unrealised investment (losses) gains
Market value at 31 December 2022
Cash held in short term deposits and by investment managers
Cost of listed investments at 31 December 2022		 1,009,755
177,354
(164,950)
(110,061)		 863,137
24,287

—
122,331
912,098
19,225		 1,009,755
19,225
931,323 1,028,980
854,584 854,584

The charity’s listed investments managed by Rathbones Investment Management Limited are subject to a formal charge as security for a loan to the charity used to finance development of the community house at Battersea (and, during the year ended 31 December 2021, a loan to finance work at Salesian College Farnborough) (see note 19).

Salesians of Don Bosco UK 50

Notes to the accounts 31 December 2022

17 Investments (continued)

b. Listed investments (continued)

Listed investments held at 31 December 2022 comprised the following:

Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
UK equities
UK fixed interest stocks
Overseas equities
Overseas fixed interest stocks
Alternatives
Cash		 16,640,164
3,718,936
9,909,353
405,549
3,479,041
755,428		 19,481,250
2,832,107
10,732,097
586,727
4,423,555
2,055,055		 16,238,876
3,603,416
9,639,923
405,549
3,359,639
729,745		 18,995,370
2,731,069
10,398,586
586,727
4,334,229
2,035,830
34,908,471 40,110,791 33,977,148 39,081,811

All listed investments were dealt in on a recognised stock exchange.

No listed investment holding was material in the context of the total value of the combined portfolio at 31 December 2022.

18 Debtors: amounts receivable within one year

Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
Education fees receivable
Sundry debtors
Prepayments
Legacies receivable
Loan to Salesian College Farnborough
Limited (see below)		 —
77,556
460,811
126,000
—		 17,030
33,678
458,701
556,505
—		 —
72,661
—
126,000
—		 —
31,320
—
556,505
52,500
664,367 1,065,914 198,661 640,325

The charity had advanced a loan of up to £1 million to Salesian College Farnborough Limited to assist with the development of facilities at the College. The loan was granted by the charity subject to it being able to seek immediate repayment or give notice of termination at any time. The loan was repaid during the year. Interest was payable on the loan quarterly in arrears and accrued at a rate of 3% above the published Bank Rate.

Salesians of Don Bosco UK 51

Notes to the accounts 31 December 2022

19 Creditors: amounts falling due within one year

Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
Education fees paid in advance
Bank overdrafts and loans
Expense creditors
Taxation and social security
Loan in respect to development of facilities
at Salesian College, Farnborough (see (a)
below)
Loan in respect to development of the
community house, Battersea (see (b)
below)
Hire purchase obligations
Other creditors
Accruals		 739,907
—
211,242
99,387
—
1,000
33,472
470,839
216,447		 619,481
111,721
329,793
95,814
52,500
1,000
19,414
334,352
175,253		 —
—
3,792
—
—
1,000
—
—
85,822		 —
—
3,568
—
52,500
1,000
—
—
89,338
1,772,294 1,739,328 90,614 146,406

During the year ended 31 December 2022, the group and charity had the following loan facilities with Rathbone Investment Management Limited:

The loans outstanding at 31 December 2022 are, and those which existed for part of the year to 31 December 2022 were, secured by a mortgage and charge against the listed investments managed on behalf of the charity by Rathbone Investment Management Limited.

20 Creditors: amounts falling due after one year

Group Group Charity Charity
2022
£		 2021
£		 2022
£		 2021
£
Education fees paid in advance
Hire purchase obligations		 231,121
90,240		 179,800
70,621		 —
—		 —
—
321,361 250,421 — —

Salesians of Don Bosco UK 52

Notes to the accounts 31 December 2022

21 Restricted funds

The income funds of the group and charity include restricted funds comprising the following unexpended balances of donations and grants held on trust to be applied for specific purposes:

At 1
January
2022
£		 Income
£		 Expenditure
£		 Transfers
£

At 31
December
2022
£
Overseas funds
Bursary funds
Development funds
Legacy fund
Group Total
Less Bursary Funds
Farnborough College
Charity total		 726,570
34,508
33,923
548,297		 302,252
10,175
44,033
—		 (321,787)
(10,925)
—
(2,500)		 —
—
—
—		 707,035
33,758
77,956
545,797
1,343,298
(34,508)		 356,460
(10,175)		 (335,212)
10,925		 —
—		 1,364,546
(33,758)
1,308,790 346,285 (324,287) — 1,330,788
At 1
January
2021
£		 Income
£		 Expenditure
£		 Transfers
£

At 31
December
2021
£
Overseas funds
Bursary funds
Development funds
Legacy fund
Group Total
Less Bursary Funds
Farnborough College
Charitytotal		 216,822
34,508
36,340
554,193		 408,725
—
47,342
2,500		 (225,970)
—
(49,759)
—		 326,993
—
—
(8,396)		 726,570
34,508
33,923
548,297
841,863
(34,508)		 458,567
—		 (275,729)
—		 318,597
—		 1,343,298
(34,508)
807,355 458,567 (275,729) 318,597 1,308,790

Overseas funds

This fund comprises monies for Salesian work carried out in selected overseas locations.

Bursary funds

The bursary funds held at Salesian College Farnborough are for providing assistance for meeting fees in cases of hardship. At 31 December 2022 the fund amounted to £33,758 (2021 – £34,508).

Development funds

The development funds comprise amounts collected via direct debit into a dedicated bank account to be distributed for community support in the UK and overseas, as specified by the donors.

Legacy fund

The legacy fund represents monies administered by the charity on behalf of individual members of the British Province of the Salesians of Don Bosco.

Salesians of Don Bosco UK 53

Notes to the accounts 31 December 2022

22 Designated funds

Designated funds
At 1
January
2022
£		 Designations
£		 Withdrawals
£

At 31
December
2022
£
Ministry of the members of the
Congregation and their support and
retirement fund
Savio House support fund
Youth ministry fund
Oil line compensation fund
Salesian College Farnborough fund
Group total
Less: Salesian College Farnborough fund
Charity total		 15,000,000
10,000,000
5,000,000
—
7,299,551		 —
—
—
75,000
9,961,023		 —
—
—
—
(8,952,532)		 15,000,000
10,000,000
5,000,000
75,000
8,308,042
37,299,551
(7,299,551)		 10,036,023
(9,961,023)		 (8,952,532)
8,952,532		 38,383,042
(8,308,042)
30,000,000 75,000 — 30,075,000
At 1
January
2021
£		 Designations
£		 Withdrawals
£

At 31
December
2021
£
Ministry of the members of the
Congregation and their support and
retirement fund
Savio House support fund
Youth ministry fund
Salesian College Farnborough fund
Group total
Less: Salesian College Farnborough fund
Charitytotal		 15,000,000
10,000,000
5,000,000
6,329,236		 —
—
—
8,925,917		 —
—
—
(7,955,602)		 15,000,000
10,000,000
5,000,000
7,299,551
36,329,236
(6,329,236)		 8,925,917
(8,925,917)		 (7,955,602)
7,955,602		 37,299,551
(7,299,551)
30,000,000 — — 30,000,000

Ministry of the members of the Congregation and their support and retirement fund

This consists of monies which the trustees have set aside in order to support the confrères in the future and, in particular, to provide for the confrères who need support due to illness or frailty and as they grow older. This latter category of support may include additional help or the need for specialist assistance in care homes. Over the coming years, it is anticipated that the age profile of the confrères will mean that such support will be required for an increasing number at an increasing cost which will need to be met by the charity as none of the confrères have resources of their own. The amount set aside was reassessed as at 31 December 2022 to ensure provision has been made based on the ages of the confrères, their expected remaining lives as derived from life expectancy tables used by actuaries, the estimated cost of care for older people in the United Kingdom, and the estimated return on investment assets. Those calculations suggest that a reserve of £15 million was still required and so the trustees, following professional advice, have left the designated reserve at £15 million.

Salesians of Don Bosco UK 54

Notes to the accounts 31 December 2022

22 Designated funds (continued)

Savio House support fund

This fund is represented by investments set aside to generate income to be applied towards assisting with funding the operating deficits at Savio House Retreat Centre. Income generated by the investments representing the fund is added to the fund each year and withdrawn if needed to meet any shortfall in income. The trustees increased this reserve to £10 million as at 31 December 2019 in anticipation of the deficits suffered during the Coronavirus pandemic. As at 31 December 2022, no further designations were considered to be necessary.

Youth ministry fund

One of the key missions of the Congregation of the Salesians of Don Bosco and hence of the charity is to minister to the needs of the young to bring all their talents and aptitudes to full maturity. Whilst the work of Savio House in part assists in the achievement of the mission, the charity reaches out to the young in many other ways and seeks always to develop further its work on the education and pastoral and practical care of young people, especially those in most need of such care and support. To this end, the trustees have designated £5 million to enable such work and its development to continue and flourish in the years ahead through the Youth Ministry Team, the Office for Social Media and Communications, via the charity’s connections to the schools founded by the Congregation and through a myriad of other means.

Oil line compensation fund

During the year the parent charity and group were in receipt of compensation from an oil company following agreement from the parent charity and group that an oil pipeline may be laid under land owned by the parent charity and group and occupied by a Salesian school. The trustees have ringfenced the compensation to provide funds to support the school in the development of the playing field affected by the pipeline.

Salesian College Farnborough fund

This fund represents the accumulated funds and net assets of the Salesian College Farnborough Limited.

Salesians of Don Bosco UK 55

Notes to the accounts 31 December 2022

23 Tangible fixed assets fund

Tangible fixed assets fund
Group and charity Total
2022
£


Total
2021
£
20,855,013

(408,205)
20,446,808
At 1 January 2022
Net movement in year
At 31 December 2022		 20,446,808
(408,205)
20,038,603

The tangible fixed assets fund represents the net book value of the group’s and charity’s land and buildings, excluding investment properties, those financed out of restricted funds and those financed directly by Salesian College Farnborough which are included as part of the Salesian College Farnborough fund within designated funds. The decision was made to separate this fund from the other funds of the group in recognition of the fact that the tangible fixed assets are essential to the day to day work of the charitable group and as such their value should not be regarded as funds that would be realisable with ease, in order to meet future contingencies.

24 Analysis of net assets between funds

**Group ** General
fund
£		 Tangible
fixed
assets
fund
£		 Designated
funds
£		 Restricted
funds
£		 Total
2022
£
Fund balances at 31
December 2022 are
represented by:
Tangible fixed assets
Investments
Net current assets
Creditors: amounts falling
due after one year
Total net assets		 —
6,152,148
1,716,722
—		 20,038,603
—
—
—		 4,718,568
31,006,323
2,979,512
(321,361)		 —
—
1,364,546
—		 24,757,171
37,158,471
6,060,780
(321,361)
7,868,870 20,038,603 38,383,042 1,364,546 67,655,061
Group General
fund
£		 Tangible
fixed
assets
fund
£		 Designated
funds
£		 Restricted
funds
£		 Total
2021
£
Fund balances at 31 December
2021 are represented by:
Tangible fixed assets
Investments
Net current assets
Creditors: amounts falling
due after one year
Total net assets		 —
11,406,811
1,072,488
—		 20,446,808
—
—
—		 4,843,550
31,028,980
1,677,442
(250,421)		 —
—
1,343,298
—		 25,290,358
42,435,791
4,093,228
(250,421)
12,479,299 20,446,808 37,299,551 1,343,298 71,568,956

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Notes to the accounts 31 December 2022

24 Analysis of net assets between funds (continued)

Charity General
fund
£		 Tangible
fixed
assets
fund
£		 Designated
funds
£		 Restricted
funds
£		 Total
2022
£
Fund balances at 31
December 2022 are
represented by:
Tangible fixed assets
Investments
Net current assets
Total net assets		 —
6,152,148
1,716,722		 20,038,603
—
—		 —
30,075,000
—		 —
—
1,330,788		 20,038,603
36,227,148
3,047,510
7,868,870 20,038,603 30,075,000 1,330,788 59,313,261
Charity General
fund
£		 Tangible
fixed
assets
fund
£		 Designated
funds
£		 Restricted
funds
£		 Total
2021
£
Fund balances at 31 December
2021 are represented by:
Tangible fixed assets
Investments
Net current assets
Total net assets		 —
11,406,811
1,072,488		 20,446,808
—
—		 —
30,000,000
—		 —
—
1,308,790		 20,446,808
41,406,811
2,381,278
12,479,299 20,446,808 30,000,000 1,308,790 64,234,897

The total unrealised gains (losses) balance as at 31 December 2022 constitutes movements on revaluation and are as follows:

Group and charity 2022
£		 2021
£
Unrealised gains included above:
On tangible fixed assets
On investment properties
On listed investments
Total unrealised gains at 31 December 2022
Reconciliation of movements in unrealised gains
Unrealised gains at 1 January 2022
Difference between historical cost realised gains/losses on listed
investments and the actual realised gains/losses thereon calculated on
the revalued amounts
Unrealised (losses) gains on listed investments arising in the year
Unrealised losses on investment properties arising in the year
Difference between the depreciation charge based on historic cost and
that based on the deemed cost
Total unrealisedgains at 31 December 2022		 7,459,710
2,250,000
2,406125		 7,322,276
2,325,000
6,804,495
12,115,835 16,451,771
16,451,771
(578,522)
(3,819,848)
(75,000)
137,434		 15,476,882
(1,951,411)
2,788,866
—
137,434
12,115,835 16,451,771

*Certain of the charity’s freehold land and buildings were acquired many years ago and precise figures for the historical cost of some properties are not available. However, it is known that the original purchase price of those properties was insignificant in today’s terms. Hence the cost of the land and buildings of those properties has been assumed to be £nil.

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Notes to the accounts 31 December 2022

25 Salesian College Farnborough Limited

The trustees of the charity are also the trustees of Salesian College Farnborough Limited, a charitable company separately registered with the Charity Commission (Company Registration No. 06753037 (England and Wales) and Charity Registration No. 1130166). The charitable company was incorporated to undertake the activities of Salesian College Farnborough.

The following is a summary of the accounts of Salesian College Farnborough:

31
December
2022
£		 31
December
2021
£
Summary balance sheet
Tangible fixed assets
Investments
Debtors
Cash at bank and in hand
Creditors: amounts falling due within one year
Creditors: amounts falling due after more than one year
Net assets and total funds
4,718,568
931,323
465,706
4,229,244
(1,608,087)
**(321,361) **		 4,843,550
1,029,980
478,089
2,879,283
(1,571,829)
(250,421)
8,415,393 7,408,652
Year
ended 31
December
2022
£		 Year
ended 31
December
2021
£
Summary of the statement of financial activities
Total income
Total expenditure
Net movement in funds
Fund balances brought forward at 1 January 2022
Fund balances carried forward at 31 December 2022		 9,971,198
**(8,963,457) **		 8,926,247
(7,955,601)
1,007,741
7,407,652		 970,646
6,437,006
8,415,393 7,407,652

26 Connected charity

The Stacpoole Trust (“the Trust”) (Charity Registration Number 1137378) is connected to the charity by virtue of the fact that it has a trustee in common. The objects of the Trust are to further the Roman Catholic Religion for the public benefit of the Diocese of Southwark.

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Notes to the accounts 31 December 2022

27 Pension commitments

Teacher’s Pension Scheme (TPS)

Introduction

The Teachers' Pension Scheme (TPS) is a statutory, unfunded, defined benefit occupational scheme, governed by the Teachers’ Pension Scheme Regulations 2014 (as amended). These regulations apply to teachers in schools and other educational establishments, including academies, in England and Wales that are maintained by local authorities. In addition, teachers in many independent and voluntary-aided schools and teachers and lecturers in some establishments of further and higher education may be eligible for membership. Membership is automatic for full-time teachers and lecturers and, from 1 January 2007, automatic too for teachers and lecturers in part-time employment following appointment or a change of contract. Teachers and lecturers are able to opt out of the TPS.

The Teachers’ Pension Budgeting and Valuation Account

Although members may be employed by various bodies, their retirement and other pension benefits are set out in regulations made under the Superannuation Act (1972) and are paid by public funds provided by Parliament. The TPS is an unfunded scheme and members contribute on a ‘pay as you go’ basis – these contributions, along with those made by employers, are credited to the Exchequer under arrangements governed by the above Act.

The Teachers' Pensions Regulations 2010 require an annual account, the Teachers’ Pension Budgeting and Valuation Account, to be kept of receipts and expenditure (including the cost of pensions’ increases). From 1 April 2001, the Account has been credited with a real rate of return, which is equivalent to assuming that the balance in the Account is invested in notional investments that produce that real rate of return.

Valuation of the Teachers’ Pension Scheme

The Government Actuary, using normal actuarial principles, conducts a formal actuarial review of the TPS in accordance with the Public Service Pensions (Valuations and Employer Cost Cap) Directions 2014 published by HM Treasury every 4 years. The aim of the review is to specify the level of future contributions. Actuarial scheme valuations are dependent on assumptions about the value of future costs, design of benefits and many other factors. The latest actuarial valuation of the TPS was carried out as at 31 March 2016. The valuation report was published by the Department for Education on 5 March 2019. The key elements of the valuation and subsequent consultation are:

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Notes to the accounts 31 December 2022

27 Pension commitments (continued)

Teacher’s Pension Scheme (TPS) (continued)

A copy of the valuation report and supporting documentation is on the Teachers' Pension Scheme website.

Under the definitions set out in FRS 102, the TPS is an unfunded multi-employer pension scheme. The Trust has accounted for its contributions to the scheme as if it were a defined contribution scheme. The Trust has set out above the information available on the scheme.

The amount charged to the group statement of financial activities for the year ending 31 December 2022 was £654,100 (2021 – £636,579). The total amount charged to the charity statement of financial activities was £nil (2021 – £nil).

Pension contributions in respect to other employees

Pension contributions are also made by the trustees under money purchase arrangements on behalf of other employees not employed by Salesian College Farnborough Limited. In addition, contributions are also made for employees of the Salesian College Farnborough Limited who are not members of the Teachers’ Pension Scheme. Contributions payable in respect to the year ended 31 December 2022 and charged to the group statement of financial activities amounted to £98,460 (2021 – £95,363). Contributions payable charged to the charity statement of financial activities amounted to £32,788 (2021 – £33,078).

28 Leasing commitments

Finance leases

At 31 December 2022 the group and charity had total commitments under non-cancellable finance leases as follows:

**Group ** Computer Equipment Computer Equipment
2022
£		 2021
£
Operating lease commitments:
Within one year
Within two to five years		 33,472
90,240		 19,414
70,621
123,712 90,035

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Notes to the accounts 31 December 2022

28 Leasing commitments (continued)

Operating leases

At 31 December 2022 the group and charity had total commitments under non-cancellable operating leases as follows:

**Group ** Motor vehicles and other Motor vehicles and other
2022
£		 2021
£
Operating lease commitments:
Within one year
Within two to five years
Greater than five years		 490,807
1,564,724
7,238,717		 119,768
116,477
—
9,294,248 236,245
Charity Motor vehicles Motor vehicles
2022
£		 2021
£
Operating lease commitments:
Within one year
Within two to five years
Greater than five years		 91,131
89,768
2,824		 68,154
38,025
—
183,723 106,179

29 Contingent liability

A contingent liability arises in respect of potential claims against the charity concerning the welfare of children during the 1960s through to the 1980s. The amounts that may be involved cannot be fully quantified but are not expected to be material to the accounts.

30 Related party transactions

Income from donations includes the salaries and pensions of the trustees of the Congregation received under Gift Aid or deed of covenant. During the year ended 31 December 2022, £71,183 (2021 – £64,819) was receivable by the charity, being pensions and salary income of the trustees donated to the charity.

There were no other related party transactions requiring disclosure during the year (2021 – none).

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Notes to the accounts 31 December 2022

31 Ultimate control

The charity, which is constituted as a trust, was controlled throughout the period by the Society of the Salesians of Don Bosco by virtue of the fact that the General Council in Rome appoint the trustees after consultation with the members of the Province. The Society within the United Kingdom does not hold any assets, incur liabilities or enter into transactions in its own right. Assets and liabilities of the Congregation in the United Kingdom are vested in the trustees of the charity, who undertake all transactions entered into in the course of the Society’s charitable activities in the United Kingdom.

Salesians of Don Bosco UK 62