**Salesians of Don Bosco UK**
## **Consolidated Annual Report and Account**
31 December 2023
Charity Registration Numbers 233779 (England and Wales) SC039294 (Scotland)
## **Contents**
|**Reports**||
|---|---|
|Reference and administrative details||
|of the charity, its trustees and advisers|1|
|Trustees� report|3|
|Independent auditor�s report|21|
|**Accounts**||
|Consolidated statement of||
|financial activities|26|
|Charity statement of financial activities|27|
|Balance sheets|28|
|Statement of cash flows|29|
|Principal accounting policies|31|
|Notes to the accounts|39|
Salesians of Don Bosco UK
## **Reference and administrative details of the charity, its trustees and advisers** 31 December 2023
|**Trustees**
**Custodian trustee**
**Registered office**
Telephone
Facsimile
Website
**Charity Registration Numbers**
England and Wales
Scotland
**Auditor**
**Bankers**|Rev James Gerard Briody SDB (Provincial)
Rev Peter Robert Brealey SDB (appointed 15 August 2023)
Rev Anthony Francis Fernandes SDB (resigned 15 August
2023)
Rev James Robert Gardner SDB
Rev Saju John SDB
Rev Francis Preston SDB
Rev Jakub Wojciech Ruszniak SDB
S.D.B. Trustees Limited
Salesian Provincial Office
Thornleigh House
Sharples Park
Bolton
BL1 6PQ
01204 600720
01204 309874
www.salesians.org.uk
233779
SC039294
Buzzacott LLP
130 Wood Street
London
EC2V 6DL
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 2023
**Investment managers** Rathbones Investment Management Limited 8 Finsbury Circus London EC2M 7AZ LGT Wealth Management UK LLP 14 Cornhill London EC3V 3NR Cazenove Capital Schroder & Co. Limited 1 London Wall Place EC2Y 5AU **Solicitors** Addleshaw Goddard LLP One St Peter�s Square Manchester M2 3DE
Salesians of Don Bosco UK **2**
**Trustees� report 31** December 2023
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 2023.
The accounts have been prepared in accordance with the accounting policies set out on pages 31 to 38 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 150[th] 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 bicentenary 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:
- To be in the Church signs and bearers of the love of God for young people, especially those who are poor. We are evangelizers of the young. (Constitutions 2 & 6).
Salesians of Don Bosco UK **3**
## **Trustees� report 31** December 2023
## **Mission** (continued)
- The needs of the young and of working-class areas, the desire to work with the Church and in her name, inspire and shape our concrete pastoral activity to bring about a more just world and one of greater brotherhood in Christ. (Constitution 7).
- As educators we work together with our young people to bring all their talents and aptitudes to full maturity. Making the concern of Don Bosco our own, we encounter the young at their present stage of freedom. We then accompany them so that they may develop solid convictions and gradually assume responsibility for the delicate process of their growth as human beings and as men and women of faith, ready to take their place in the Church and in the Christian transformation of social life. (Constitutions 27, 32, & 38).
- We cooperate with all who are trying to build a society more worthy of the dignity of all. The advancement to which we dedicate ourselves in the spirit of the Gospel makes tangible the love of Christ which makes men and women free and is a sign that the Kingdom of God is among us. (Constitution 33).
- For us evangelising and catechising are the fundamental characteristics of our mission. Like Don Bosco, we are all called to be educators to the faith at every opportunity. Our highest knowledge therefore is to know Jesus Christ, and our greatest delight is to reveal to all people the unfathomable riches of his mystery. We walk side by side with the young so as to lead them to the risen lord, and so discover in him and in his Gospel the deepest meaning of their own existence, and thus grow into new men and women. (Constitution 34).
## **Policies**
The policies adopted to fulfil our mission have been developed over the 130 years since the Salesian Congregation started work in the UK. They include:
- Working in schools and colleges.
- Working in parishes.
- An out-reach policy which covers a wide variety of works (youth centres, youth work, social activities, etc.).
- Maintaining and developing a residential retreat centre where young people can experience community living, leadership training, personal and spiritual formation and reflect on their life situations and roles and enjoy fresh air and good fellowship.
- The financial support of Salesian work in the developing world. These include Bangalore, Kolkata, Kerala, Chenai and Mumbai in India and Sudan, Kenya, DR Congo, Sierra Leone, and Tanzania in Africa and Pakistan, Lebanon, Syria and Mexico. A key part of our support in recent years has involved the preparation of Salesians in formation from other Provinces. Currently there are eleven Salesian brothers from Africa and Eastern Europe pursuing studies in the UK who will eventually return to work in their own regions.
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**Trustees� report** 31 December 2023
## **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 eight parishes with nine Salesians involved in parish ministry in Battersea, Chertsey and Farnborough in the South-East, Bollington, Bolton and Bootle in the North-West. Several of our parishes include areas with high levels of social deprivation.
## _**Schools**_
There are five Salesian secondary schools in England. Thornleigh Salesian College in Bolton has Voluntary Aided status under Salesian Trusteeship. Salesian College Farnborough is an Independent school under the Trustees. The Salesian Academy of St John Bosco is within the Pope Francis Multi Academy Trust. St John Bosco College, Battersea is under joint trusteeship with the Southwark Archdiocese. The Salesian School at Chertsey 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, Bolton and Farnborough and half the Foundation Governors at 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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**Trustees� report** 31 December 2023
## **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.
In 2023 World Youth Day with Pope Francis took place in Fatima, Portugal. Natia, from Georgia, who is currently volunteering at Savio House, was sponsored by the Province and was able to link up with other young people from the Salesian world. She writes of her experience:
_I would like to thank you very much, for giving me the possibility to take part in this unique catholic youth experience. During the world youth day, I felt how large faith can be. People may seem so different, but can bond through the religion�_
_The final Mass was one of the most emotional moments for me and for all the Georgians. I cannot find words to describe the emotions. When the Holy Mass_
_finished, a million people were standing and waiting for the Pope�s last words to close the World Youth Day 2023. There was a silence. Then the Pope begun: �I would like to send the assurance of my prayers to the victims of the avalanche that occurred two days ago in Racha, region of Georgia�� From that moment I did not understand what happened, I thought maybe I did not understand correctly. His words made me feel that the world was standing by us, as if everyone was trying to share this pain that we were experiencing. I felt that the pain of our little country turned into everyone�s pain._
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**Trustees� report** 31 December 2023
## **Objectives, activities and relevant policies** (continued)
## _**Overseas Activities**_
Several of our Salesians priests are working abroad in Kenya, Zimbabwe, South Africa, Hong Kong and Malta.
## _**Social Media Communications and Publications**_
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.
Thirteen new books were published in 2023:
The Last Supper; John the Baptist; Adam and Eve; The Miraculous Multiplication of the Loaves and Fish�
Echoes for the Soul; John Bosco: A Man with a Heart of Gold; Faces of Good and Evil�
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**Trustees� report** 31 December 2023
**Objectives, activities and relevant policies** (continued)
## _**Social Media Communications and Publications** (continued)_
A Young Adults Guide to Life � Challenging and Changing Seasons - Lots to spot in Creation�
Christian Characters through History - 100 ideas for Catechism (Volumes 1 & 2) �
There were also reprints of: Christian Leadership in Education & School Ethos and Chaplaincy�
## _**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.
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**Trustees� report** 31 December 2023
## **Objectives, activities and relevant policies** (continued)
## _**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 and providing training and follow up.
Volunteer members are active in Province advisory groups such as the Finance, Investment and Property Committee and the Community Support Team which reviews the provision being made for elderly and sick confreres.
## _**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 several parameters and requirements for the management of their investments. These include:
annual cash withdrawal requirements from investments.
- capital growth at a level sufficient at least to maintain the real capital value of the funds Invested in the medium to long term.
credit ratings� criteria.
asset allocation parameters; and
- ESG & SRI Criteria in which the Trustees are committed to the UN Principles of Responsible investing (PRI) and the UN�s Sustainable Development goals (SRG).
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.
## _**Fundraising policy**_
The charity aims to achieve best practice in the way in which it communicates with donors and other supporters. It takes care with both the tone of its communications and the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters� data and never sells data, it never swaps data and ensures that communication preferences can be changed at any time. The charity manages its own fundraising activities and does not employ the services of Professional Fundraisers. The charity undertakes to react to and investigate any complaints regarding its fundraising activities and to learn from them and improve its service. During the year to 31 December 2023, the charity received no complaints about its fundraising activities.
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**Trustees� report** 31 December 2023
## **Objectives, activities and relevant policies** (continued)
## _**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.
## **Financial review**
## _**Results for the Year**_
During 2023, total income amounted to £13,569,854 (2022 � £13,506,990). Of the income, a total of £10,555,786 (2022 � £10,104,876) related to the fees receivable and other income of the Salesian College Farnborough and the Retreat Centre and the Youth Centre. £1,419,682 (2022 � £1,927,715) was received by way of voluntary income, of which £724,155 (2022 � £1,262,934) was from legacies and donations and £695,527 (2022 � £664,781) from salaries and pensions covenanted to the charity by the members of the Congregation. Investment income and interest receivable totalled £1,462,876 (2022 � £1,154,839).
Expenditure totalled £14,090,065 compared to £12,703,985 in 2022. The total expenditure of the Salesian College, Farnborough amounted to £9,477,241 (2022 � £8,531,597) with staff costs representing a very significant proportion of this and amounting to £5,087,013 (2022 � £4,853,881). 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 £3,243,336 (2022 � £2,784,072). 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 £197,059 (2022 � £184,182).
Net expenditure before investment gains, therefore, was £520,211 (2022 � net income of £803,005). The charity�s investment achieved net gains of £1,438,751 (2022 � losses of £4,716,900), resulting in a net surplus and the net increase in funds for the year was therefore £918,540 (2022 � a net decrease in funds of £3,913,895). 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.
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**Trustees� report** 31 December 2023
## **Financial Review** (continued)
## _**Reserves policy and financial position** (continued)_
## _Reserves policy (continued)_
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 geopolitical situation and other economic concerns.
## _Financial position_
The group�s balance sheet shows total reserves of £68,573,601 (2022 � £67,655,061). Included in total funds is an amount of £1,465,409 (2022 � £1,364,546) 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 £40,759,423 (2022 � £38,383,042) for specific purposes:
- £15 million comprises the 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 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 2021 to ensure provision has been made based on the current age 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.
- The Savio House support fund of £10 million. 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. During the year, all income generated was released as the deficit exceeded the figure.
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## **Trustees� report** 31 December 2023
## **Financial Review** (continued)
## _**Reserves policy and financial position** (continued)_
_Financial position (continued)_
- The youth ministry fund of £5 million. One of the key missions of the Congregation 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. The £5 million designated by the trustees will 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.
- The Pipeline compensation fund of £75,000. In 2022 the parent charity and group were in receipt of compensation from a utility company as arranged with the parent charity and group that a pipeline may be laid under land owned by the parent charity and group and leased to 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.
- The Salesian College of Farnborough Fund represents the accumulated funds and net assets of the Salesian College, Farnborough Limited and had a balance of £9,083,304 (2022 � £8,308,042) as at 31 December 2023.
- The Tuition fund of £1 million This consists of monies which the trustees have set aside in order to support the formation of confrères in their studies and associated costs to ordination in the future.
- The Bootle Chapel fund of £500,000. This represents funds the trustees have set aside to build a chapel facility in the new Salesian Academy of St John Bosco in Bootle which is being constructed to replace the old school buildings in need of replacement.
- The Educational Scholarship Fund of £101,119 was established by a discretionary legacy received via CAF. The trustees have derived that the donor�s undocumented wish was to use the funds for educational scholarships and therefore intend to apply the funds & their income to this purpose.
The tangible fixed assets fund totals £19,630,398 (2022 � £20,038,603) 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 £6,718,371 (2022 � £7,868,870). 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 current geopolitical events and the economic and financial challenges they bring both generally and to the group.
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**Trustees� report** 31 December 2023
## **Financial Review** (continued)
## _**Reserves policy and financial position** (continued)_
## _Financial position (continued)_
The trustees 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 2023.
## _**Investments**_
As at 31 December 2023 the listed investments held amounted to £35,245,933 (2022 � £34,908,471).
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 (2022 � £2,250,000).
## **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.
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**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Governance** (continued)_
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 Peter Robert Brealey** was appointed as Provincial Economer on 15 August 2023. Although initially qualified as a teacher he has over thirty years of experience in the Salesian parishes of Battersea, Chertsey, Cowley and Farnborough. He is a member of the Farnborough Community but divides his time between there and the Provincial Office.
**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. He took the position of Provincial Economer from 2020 until his term of office as Economer and trustee ended on 15 August 2023.
**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.
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**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Governance** (continued)_
**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.
**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 L d, 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:
select suitable accounting policies and then apply them consistently.
- observe the methods and principles in the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the United Kingdom and Republic of Ireland (FRS 102).
make judgements and estimates that are reasonable and prudent.
- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the accounts; and
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**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Trustees� Responsibilities** (continued)_
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
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.
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 Peter Robert Brealey, Provincial Economer and trustee, working part-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 several committees as they exercise their responsibilities as charity trustees.
Salesians of Don Bosco UK **16**
**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Key management responsibilities and personnel** (continued)_
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, Safeguarding, 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).
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 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.
Salesians of Don Bosco UK **17**
**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Employees** (continued)_
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:
**Financial viability** and security 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 geopolitical situation in Ukraine and the Middle East 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.
**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.
Salesians of Don Bosco UK **18**
**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Risk management** (continued)_
**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).
**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.
Salesians of Don Bosco UK **19**
**Trustees� report** 31 December 2023
## **Governance, structure and management** (continued)
## _**Risk management** (continued)_
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.
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:
J.G. Briody
Trustee Approved by the trustees on:
Salesians of Don Bosco UK **20**
**Independent auditor�s report** 31 December 2023
## **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 2023 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:
- give a true and fair view of the state of the group�s and of the parent charity�s affairs as at 31 December 2023 and of the group�s and the parent charity�s income and expenditure for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).
## **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 **21**
**Independent auditor�s report** 31 December 2023
## **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 (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 (as amended) require us to report to you if, in our opinion:
- the information given in the trustees� report is inconsistent in any material respect with the accounts; or
- sufficient and proper accounting records have not been kept by the parent charity; or
- the parent charity accounts are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
## **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 **22**
**Independent auditor�s report** 31 December 2023
## **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:
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; and
- we obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework (Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011) and those that relate to data protection (General Data Protection Regulation), education legislation (including the Children�s Act) and safeguarding regulations.
- We understood how the charity is complying with those legal and regulatory frameworks by making enquiries of management and those responsible for legal and compliance procedures. We corroborated our enquiries through our review of the minutes of trustees� meetings and reports from regulatory bodies.
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:
- Identifying and assessing the design effectiveness of controls in place to prevent and detect fraud;
- Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
- Challenging assumptions and judgements made by management in its significant accounting estimates;
Salesians of Don Bosco UK **23**
**Independent auditor�s report** 31 December 2023
## **Auditor�s responsibilities for the audit of the accounts** (continued)
- Identifying and testing journal entries;
- Assessing the extent of compliance with the relevant laws and regulations as part of our procedures on the relevant accounts item to which they relate.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- performed substantive testing on expenditure; and
- tested journal entries to identify unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
reading the minutes of meetings of those charged with governance; and
enquiring of management as to actual and potential litigation and claims.
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 **24**
## **Independent auditor�s report** 31 December 2023
## **Use of our report**
This report is made solely to the charity�s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008, 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
Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL
17 July 2024
Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006
Salesians of Don Bosco UK **25**
## **Consolidated (group) statement of financial activities** Year to 31 December 2023
**----- Start of picture text -----**
Un- Total Un- Total
restricted Restricted funds restricted Restricted funds
funds funds 2023 funds funds 2022
Notes £ £ £ £ £ £
Income
Donations and legacies 1 1,149,741 269,941 1,419,682 1,584,515 343,200 1,927,715
Other trading activities 2 119,090 � 119,090 42,328 � 42,328
Investment income and interest
receivable 3 1,445,334 17,542 1,462,876 1,151,754 3,085 1,154,839
Income from charitable activities 4 10,546,688 9,098 10,555,786 10,094,701 10,175 10,104,876
Other income 5 12,420 � 12,420 277,232 � 277,232
Total income 13,273,273 296,581 13,569,854 13,150,530 356,460 13,506,990
Expenditure
Raising funds
. Investment management costs 171,740 � 171,740 177,694 � 177,694
. Rental property expenses 25,235 � 25,235 5,618 � 5,618
. Interest payable 84 � 84 870 � 870
Charitable activities
. Donations and support of overseas
missions 6 7,399 183,540 190,939 31,962 324,287 356,249
. Salesian College Farnborough 7 9,465,063 12,178 9,477,241 8,520,672 10,925 8,531,597
. Savio House Retreat Centre,
Bollington 8 667,010 � 667,010 607,782 � 607,782
. Ministry of the members of the
Congregation and their support 9 3,243,336 � 3,243,336 2,784,072 � 2,784,072
. Publicity and promotion 10 289,068 � 289,068 240,103 � 240,103
Other expenditure 25,412 � 25,412 � � �
Total expenditure 13,894,347 195,718 14,090,065 12,368,773 335,212 12,703,985
Net (expenditure) income before net
gains (losses) on investments (621,074) 100,863 (520,211) 781,757 21,248 803,005
Net gains (losses) on investments 17 1,438,751 � 1,438,751 (4,716,900) � (4,716,900)
Net income (expenditure) 13 817,677 100,863 918,540 (3,935,143) 21,248 (3,913,895)
Transfer between funds � � � � � �
Net movement in funds 817,677 100,863 918,540 (3,935,143) 21,248 (3,913,895)
Funds reconciliation:
Balances brought forward
at 1 January 2023 66,290,515 1,364,546 67,655,061 70,225,658 1,343,298 71,568,956
Balances carried forward
at 31 December 2023 67,108,192 1,465,409 68,573,601 66,290,515 1,364,546 67,655,061
**----- End of picture text -----**
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 **26**
## **Charity statement of financial activities** Year to 31 December 2023
**----- Start of picture text -----**
Un- Total Un- Total
restricted Restricted funds restricted Restricted funds
funds funds 2023 funds funds 2022
Notes £ £ £ £ £ £
Income
Donations and legacies 1 1,167,840 269,941 1,437,781 1,601,204 343,200 1,944,404
Other trading activities 2 119,090 � 119,090 42,328 � 42,328
Investment income and interest
receivable 3 1,500,079 17,542 1,517,621 1,414,464 3,085 1,417,549
Income from charitable activities 4 275,569 � 275,569 204,847 � 204,847
Other income 5 12,420 � 12,420 277,994 � 277,994
Total income 3,074,998 287,483 3,362,481 3,540,837 346,285 3,887,122
Expenditure
Raising funds
. Investment management costs 165,073 � 165,073 170,830 � 170,830
. Rental property expenses 25,235 � 25,235 5,618 � 5,618
. Interest payable 84 � 84 870 � 870
Charitable activities
. Donations and support of overseas
missions 6 7,399 183,540 190,939 31,962 324,287 356,249
. Salesian College Farnborough 7 47,061 � 47,061 47,061 � 47,061
. Savio House Retreat Centre,
Bollington 8 667,010 � 667,010 607,782 � 607,782
. Ministry of the members of the
Congregation and their support 9 3,243,336 � 3,243,336 2,784,072 � 2,784,072
. Publicity and promotion 10 289,068 � 289,068 240,103 � 240,103
Other expenditure 25,412 � 25,412 � � �
Total expenditure 4,469,678 183,540 4,653,218 3,888,298 324,287 4,212,585
Net (expenditure) income before net
gains (losses) on investments (1,394,680) 103,943 (1,290,737) (347,461) 21,998 (325,463)
Net gains (losses) on investments 17 1,437,095 � 1,437,095 (4,596,173) � (4,596,173)
Net income (expenditure) 13 42,415 103,943 146,358 (4,943,634) 21,998 (4,921,636)
Transfer between funds � � � � � �
Net movement in funds 42,415 103,943 146,358 (4,943,634) 21,998 (4,921,636)
Funds reconciliation:
Balances brought forward
at 1 January 2023 57,982,473 1,330,788 59,313,261 62,926,107 1,308,790 64,234,897
Balances carried forward
at 31 December 2023 58,024,888 1,434,731 59,459,619 57,982,473 1,330,788 59,313,261
**----- End of picture text -----**
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 **27**
## **Balance sheets** 31 December 2023
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 16 24,445,062 24,757,171 19,630,398 20,038,603
Investments 17 37,495,933 37,158,471 36,535,486 36,227,148
61,940,995 61,915,642 56,165,884 56,265,751
Current assets
Stocks 155,837 136,331 155,837 136,331
Debtors receivable within one year 18 562,889 664,367 196,177 198,661
Cash at bank and in hand 8,283,914 7,032,376 3,475,795 2,803,132
9,002,640 7,833,074 3,827,809 3,138,124
Creditors : amounts falling due
within one year 19 (2,085,501) (1,772,294) (534,074) (90,614)
Net current assets 6,917,139 6,060,780 3,293,735 3,047,510
Total assets less current liabilities 68,858,134 67,976,422 59,459,619 59,313,261
Creditors: amounts falling due
after one year 20 (284,533) (321,361) � �
Total net assets 68,573,601 67,655,061 59,459,619 59,313,261
The funds of the charity
Income funds:
Restricted funds 21 1,465,409 1,364,546 1,434,731 1,330,788
Unrestricted funds
. Designated funds 22
.. Ministry of the members of the
Congregation and their support and
retirement fund 15,000,000 15,000,000 15,000,000 15,000,000
.. Savio House support fund 10,000,000 10,000,000 10,000,000 10,000,000
.. Youth ministry fund 5,000,000 5,000,000 5,000,000 5,000,000
.. Pipeline compensation fund 75,000 75,000 75,000 75,000
.. Tuition fund 1,000,000 � 1,000,000 �
.. Bootle Chapel fund 500,000 � 500,000 �
.. Educational Scholarship fund 101,119 � 101,119 �
.. Salesian College Farnborough
fund 9,083,304 8,308,042 � �
40,759,423 38,383,042 31,676,119 30,075,000
. Tangible fixed assets fund 23 19,630,398 20,038,603 19,630,398 20,038,603
. General funds 6,718,371 7,868,870 6,718,371 7,868,870
24 68,573,601 67,655,061 59,459,619 59,313,261
**----- End of picture text -----**
Approved by the trustees and signed on their behalf by: J.G. Briody
Trustee
Approved on:
Salesians of Don Bosco UK **28**
## **Consolidated statement of cash flows** Year to 31 December 2023
**----- Start of picture text -----**
2023 2022
Notes £ £
Cash flows from operating activities:
Net cash (used in) provided by operating activities A (872,428) 964,563
Cash flows from investing activities:
Investment income and interest received 1,462,876 1,154,839
Proceeds from the disposal of tangible fixed assets � 1,000
Purchase of tangible fixed assets (406,726) (118,510)
Proceeds from the disposal of investments 8,203,378 8,059,984
Purchase of investments (6,920,233) (8,805,649)
Net cash provided by investing activities 2,339,295 291,664
Cash flows from financing activities:
Repayments of borrowing � (164,221)
Repayments of obligations under finance leases (33,471) (20,797)
Net cash used in financing activities (33,471) (185,018)
Change in cash and cash equivalents in the year 1,433,396 1,071,209
Cash and cash equivalents at 1 January 2023 B 7,781,346 6,710,137
Cash and cash equivalents at 31 December 2023 B 9,214,742 7,781,346
**----- End of picture text -----**
## **Notes to the consolidated statement of cash flows for the year to 31 December 2023.**
**A Reconciliation of net movement in funds to net cash (used in) provided by operating activities**
**----- Start of picture text -----**
2023 2022
£ £
Net movement in funds (as per the statement of financial activities) 918,540 (3,913,895)
Adjustments for:
Depreciation charge 718,835 705,138
(Gains) losses on investments (1,438,751) 4,716,900
Loss on disposal of tangible fixed assets � 33
Investment income and interest receivable (1,462,876) (1,154,839)
Increase in stock (19,506) (24,771)
Decrease in debtors 101,478 401,547
Increase in creditors 309,852 234,450
Net cash (used in) provided by operating activities (872,428) 964,563
**----- End of picture text -----**
Salesians of Don Bosco UK **29**
## **Consolidated statement of cash flows** Year to 31 December 2023
## **B Analysis of changes in net debt**
|**Analysis of changes in net debt**|||||
|---|---|---|---|---|
||2022
£|Cash Flows
£|Other non-
cash
movements
£|**2023**
**£**|
|**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
Finance leases due within one year
Finance leases due after more than one year
**Total borrowings**
**Total net debt**|7,032,376
748,970|1,251,538
181,858|�
�|**8,283,914**
**930,828**|
||7,781,346|1,433,396|�|**9,214,742**|
||(1,000)
(33,471)
(90,241)|�
33,471
�|(33,471)
33,471|**(1,000)**
**(33,471)**
**(56,770)**|
||(124,712)
7,656,634|33,471
1,466,867|�
�|**(91,240)**
**9,123,501**|
Salesians of Don Bosco UK **30**
**Principal accounting policies** 31 December 2023
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 2023 with comparative information provided in respect to the year to 31 December 2022.
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:
- the useful economic lives attributed to tangible fixed assets used to determine the annual depreciation charge;
- the valuation of the charity�s investment properties, which has been estimated by the trustees based on advice received regarding property values in the local area;
the estimation of legacy income to which there was entitlement at the year-end;
- the provision against doubtful and bad debts in respect to school tuition fees and related charges and in respect to retreat centre charges;
- the allocation of Provincial Office overheads and governance costs between charitable expenditure categories;
- the assumptions adopted by the trustees in determining the value of any designations required from the charity�s general unrestricted funds; and
- the estimation of future income and expenditure for the purpose of assessing going concern (see below).
Salesians of Don Bosco UK **31**
**Principal accounting policies** 31 December 2023
## **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 2023. 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 **32**
**Principal accounting policies** 31 December 2023
## **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 for the years ended 31 December 2023 and 31 December 2022 comprise:
- Government grant income which has been recognised in the period an application is confirmed as having been successful and hence the parent charity and group are entitled to the income and when the amount receivable is quantifiable and receipt is probable.
- A receipt due on a prior year property disposal following the agreement of an uplift in the value of the property as a result of the purchaser obtaining planning permission. The amount has been recognised once planning permission had been confirmed and the amount receivable was quantifiable and receipt was probable.
Salesians of Don Bosco UK **33**
## **Principal accounting policies** 31 December 2023
## **Income recognition** (continued)
The receipt of compensation following agreement from the parent charity and group that an pipeline may be laid under land owned by the parent charity and group. The amount has been recognised following the signing of the formal agreement for the work and once the amount receivable was quantifiable and receipt was probable.
## **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:
- a. Expenditure on raising funds includes expenditure incurred in generating voluntary income, the fees paid to investment managers in connection with the management of the charity�s listed investments, the costs in connection with the rental and upkeep of the charity�s investment properties and interest payable on loan finance.
- b. Expenditure on charitable activities includes expenditure on the charity�s primary charitable purposes as described in the trustees� report and include:
- The making of grants and donations. In the main, grants and donations are made to support the Congregation�s overseas missions. Other donations are made only in cases where the trustees consider there is real need following a review of the details of each particular case. Grants and donations are included in the statement of financial activities when approved for payment. Provision is made for grants and donations approved but unpaid at the year end.
- Expenditure incurred in providing education at The Salesian College, Farnborough.
- Expenditure incurred in operating the Savio House Retreat Centre, Bollington.
- Expenditure on the support of education generally.
- Expenditure on the support of the work of the Province of the Society of the Salesians of Don Bosco. Such expenditure enables the members to carry out the work of the charity in the areas of the advancement of the Roman Catholic faith, the relief of poverty, and the general provision of education by supporting Salesians who teach in state schools and which aim to preserve the Salesians ethos. In addition, the charity provides for the needs of the elderly and sick members of the Congregation.
Salesians of Don Bosco UK **34**
**Principal accounting policies** 31 December 2023
## **Expenditure recognition** (continued)
Expenditure in connection with the �promotion of the work� of the Salesians of Don Bosco.
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.
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.
Salesians of Don Bosco UK **35**
**Principal accounting policies** 31 December 2023
## **Tangible fixed assets** (continued)
## _**Land and buildings** (continued)_
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.
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.
Salesians of Don Bosco UK **36**
**Principal accounting policies** 31 December 2023
## **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.
## **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.
Salesians of Don Bosco UK **37**
## **Principal accounting policies** 31 December 2023
## **Leased assets** (continued)
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 **38**
**Notes to the accounts** 31 December 2023
## **1 Donations and legacies**
**----- Start of picture text -----**
Un- Total Un- Total
restricted Restricted funds restricted Restricted funds
funds funds 2023 funds funds 2022
Group and charity £ £ £ £ £ £
Salaries and pensions of
individual religious received
under Gift Aid or deed of
covenant 713,626 � 713,626 681,470 � 681,470
Legacies 273,078 47,261 320,339 770,802 67,266 838,068
Mass offerings, stole fees
and clergy offerings 97,825 � 97,825 70,409 � 70,409
Other donations 83,311 222,680 305,991 78,523 275,934 354,457
Charity total 1,167,840 269,941 1,437,781 1,601,204 343,200 1,944,404
Less: Farnborough salaries
payable to parent charity (18,099) � (18,099) (16,689) � (16,689)
Group total 1,149,741 269,941 1,419,682 1,584,515 343,200 1,927,715
**----- End of picture text -----**
The figure of £713,626 (2022 � £681,470) for salaries and pensions of individual religious is made up of £289,771 (2022 � £276,929) earned by members of the Congregation, both working and semi-retired, working in schools, seminaries and in Roman Catholic dioceses and £423,855 (2022 � £404,541) from members� pension entitlements.
## **2 Other trading activities**
|**Group and charity**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Publication sales
Youth event work
**Total**|**34,955**
**84,135**
**119,090**|**�**
**�**
**�**|**34,955**
**84,135**
**119,090**|37,642
4,686
42,328|�
�
�|37,642
4,686
42,328|
Salesians of Don Bosco UK **39**
## **Notes to the accounts** 31 December 2023
## **3 Investment income and interest receivable**
**----- Start of picture text -----**
Un- Total Un- Total
restricted Restricted funds restricted Restricted funds
funds funds 2023 funds funds 2022
Group and charity £ £ £ £ £ £
Income from investments
listed on a recognised Stock
Exchange
. UK fixed interest 206,392 � 206,392 134,461 � 134,461
. UK equities 853,346 � 853,346 913,359 � 913,359
. Other investment income 1,355 � 1,355 608 � 608
1,061,093 � 1,061,093 1,048,428 � 1,048,428
Income from investment
property
. Rent 22,570 � 22,570 39,467 � 39,467
Interest receivable
. Bank interest 326,342 17,542 343,884 55,355 3,085 58,440
. Cash held by investment
managers 35,329 � 35,329 8,504 � 8,504
361,671 17,542 379,213 63,859 3,085 66,944
Group total 1,445,334 17,542 1,462,876 1,151,754 3,085 1,154,839
Less: Interest received by
Salesian College
Farnborough Limited (244,803) � (244,803) (42,000) � (42,000)
Less: Dividends received by
Salesian College
Farnborough Limited (34,135) � (34,135) (29,931) � (29,931)
Add: Interest paid from
Salesian College
Farnborough Limited � � � 958 � 958
Add: Rents paid from
Salesian College
Farnborough Limited 333,683 � 333,683 333,683 � 333,683
Charity total 1,500,079 17,542 1,517,621 1,414,464 3,085 1,417,549
**----- End of picture text -----**
## **4 Income from charitable activities**
|**Group**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Salesian College
Farnborough fees and
related charges
Retreat centre community
and youth work income
**Total**
**Charity**|**10,271,119**
**275,569**
**10,546,688**
**Un-**
**restricted**
**funds**
**£**|**9,098**
**�**
**9,098**
**Restricted**
**funds**
**£**|**10,280,217**
**275,569**
**10,555,786**
**Total**
**funds**
**2023**
**£**|9,889,854
204,847
10,094,701
Un-
restricted
funds
£|10,175
�
10,175
Restricted
funds
£|9,900,029
204,847
10,104,876
Total
funds
2022
£|
|Retreat centre community
and youth work income|**275.569**|
**�**|**275,569**|204,847|�|204,847|
Salesians of Don Bosco UK **40**
## **Notes to the accounts** 31 December 2023
## **5 Other income**
|**Other income**|||||||
|---|---|---|---|---|---|---|
|**Group and charity**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|Other government grants
Income from uplift in value of
property disposed of in prior
year following planning
consent
Compensation for the laying
of a pipeline
Foreign exchange gains
Miscellaneous income
**Group total**
Less: Miscellaneous income
**Charity total**|**�**
**�**
**12,420**
**�**
**�**|**�**
**�**
**�**
**�**
**�**|**�**
**�**
**12,420**
**�**
**�**|3,583
175,000
88,663
10,748
(762)|�
�
�
�
�|3,583
175,000
88,663
10,748
(762)|
||**12,420**
**�**
**12,420**|**�**
**�**
**�**|**12,420**
**�**
**12,420**|277,232
762
277,994|�
�
�|277,232
762
277,994|
## **6 Donations and support of overseas missions**
|**Group and charity**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£
324,287
31,962
356,249|
|---|---|---|---|---|---|---|
|Missionary work of the
Congregation
abroad
Donations to other
organisations (see below)|**�**
**7,399**
**7,399**|**183,540**
**�**
**183,540**|**183,540**
**7,399**
**190,939**|�
31,962
31,962|324,287
�
324,287||
During the year donations comprised:
|**Group and charity**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£
18,066
5,600
4,666
3,630
�
31,962|
|---|---|---|---|---|---|---|
|Sefton Council: Chaplaincy
Salesian College Thornleigh
Other donations under
£1,000
Salesians Nairobi
Donations to individuals|**�**
**�**
**4,117**
**�**
**3,282**
**7,399**|**�**
**�**
**�**
**�**
**�**
**�**|**�**
**�**
**4,117**
**�**
**3,282**
**7,399**|18,066
5,600
4,666
3,630
�
31,962|�
�
�
�
�
�||
During 2023 there were three donations made to individuals (2022 � one).
Salesians of Don Bosco UK **41**
**Notes to the accounts** 31 December 2023
## **7 Salesian College Farnborough**
|**Group**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Teaching costs
Finance costs
Premises
Administration of the College
Marketing and publicity
Bursaries granted
**Charity**|**4,142,631**
**�**
**1,275,491**
**3,372,358**
**28,052**
**646,531**
**9,465,063**
**Un-**
**restricted**
**funds**
**£**|**�**
**�**
**�**
**12,178**
**�**
**�**
**12,178**
**Restricted**
**funds**
**£**|**4,142,631**
**�**
**1,275,491**
**3,384,536**
**28,052**
**646,531**
**9,477,241**
**Total**
**funds**
**2023**
**£**|3,867,084
(211)
1,036,713
2,963,150
17,806
636,130
8,520,672
Un-
restricted
funds
£|�
�
�
10,925
�
�
10,925
Restricted
funds
£|3,867,084
(211)
1,036,713
2,974,075
17,806
636,130
8,531,597
Total
funds
2022
£|
|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**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Staff costs
Premises
Operational costs
Administration of the retreat
centre
**Group and charity total**|**210,372**
**194,103**
**92,336**
**170,199**
**667,010**|**�**
**�**
**�**
**�**
**�**|**210,372**
**194,103**
**92,336**
**170,199**
**667,010**|178,005
196,581
87,586
145,610
607,782|�
�
�
�
�|178,005
196,581
87,586
145,610
607,782|
## **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**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Staff costs
Members� living and
personal expenses
Premises
Education, training and
spiritual renewal
Allocation of Provincial office
overheads (note 12)
**Group and charity total**|**519,451**
**1,177,686**
**1,041,902**
**226,908**
**277,389**
**3,243,336**|**�**
**�**
**�**
**�**
**�**
**�**|**519,451**
**1,177,686**
**1,041,902**
**226,908**
**277,389**
**3,243,336**|494,897
801,497
1,039,792
205,085
242,801
2,784,072|�
�
�
�
�
�|494,897
801,497
1,039,792
205,085
242,801
2,784,072|
Salesians of Don Bosco UK **42**
**Notes to the accounts** 31 December 2023
## **10 Publicity and promotion: costs of goods sold and other costs**
|**Group and charity**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|
|Publication and other costs|**289,068**|**�**|**289,068**|240,103|�|240,103|
|**11**|**Governance costs**
**Group and charity**|**Un-**
**restricted**
**funds**
**£**|**Restricted**
**funds**
**£**|**Total**
**funds**
**2023**
**£**|Un-
restricted
funds
£|Restricted
funds
£|Total
funds
2022
£|
|---|---|---|---|---|---|---|---|
||Auditor�s remuneration|**27,720**|**�**|**27,720**|23,750|�|23,750|
## **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**
**2023**
**£**|**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**|**29,738**
**8,682**
**6,586**
**2,239**
**36,901**
**2,795**
**11,800**
**6,930**
**105,671**|**78,063**
**22,792**
**17,287**
**5,878**
**96,864**
**7,338**
**30,976**
**18,191**
**277,389**|**11,152**
**3,256**
**2,470**
**840**
**13,838**
**1,048**
**4,425**
**2,599**
**39,628**|**118,953**
**34,730**
**26,343**
**8,957**
**147,603**
**11,181**
**47,201**
**27,720**
**422,688**|_Per_
_full-time_
_equivalent_
_employees_|
|_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_
_72,840_|_64,035_
_25,994_
_11,839_
_8,798_
_85,247_
_4,614_
_25,895_
_16,379_
_242,801_|_9,605_
_3,899_
_1,776_
_1,320_
_12,787_
_692_
_3,884_
_2,457_
_36,420_|_92,850_
_37,692_
_17,167_
_12,757_
_123,608_
_6,690_
_37,547_
_23,750_
_352,061_|_Per_
_full-time_
_equivalent_
_employees_|
Salesians of Don Bosco UK **43**
**Notes to the accounts** 31 December 2023
## **13 Net income (expenditure)**
This is stated after charging:
||**Group**
**Total**
**2023**
**£**|Group
Total
2022
£|**Charity**
**Total**
**2023**
**£**|Charity
Total
2022
£|
|---|---|---|---|---|
|Staff costs (note 14)
Auditor�s and component auditor�s
remuneration
. Statutory audit � group accounts
. Salesian College Farnborough
Depreciation
Operating lease rentals|**6,029,831**
**20,720**
**22,300**
**718,835**
**115,547**|5,688,742
17,800
18,790
705,138
100,343|**942,818**
**20,720**
**7,000**
**408,205**
**115,547**|834,861
17,800
5,950
408,205
100,343|
## **14 Staff costs and trustees� remuneration**
**----- Start of picture text -----**
2023 2022
Group £ £
Staff costs during the year were as follows:
Wages and salaries 4,755,407 4,478,261
Social security costs 465,401 457,921
Other pension costs 809,023 752,560
6,029,831 5,688,742
2023 2022
Group £ £
Staff costs per function were as follows:
Publicity and promotion 94,042 69,109
Salesian College Farnborough 5,087,013 4,853,881
Savio House Retreat Centre, Bollington 210,372 178,005
Support of the members of the Congregation and their ministry 519,451 494,897
Support (note 12) 118,953 92,850
6,029,831 5,688,742
**----- End of picture text -----**
|**Charity**|**2023**
**£**|2022
£|
|---|---|---|
|Staff costs during the year were as follows:
Wages and salaries
Social security costs
Other pension costs|**838,981**
**66,156**
**37,681**
**942,818**|741,927
60,146
32,788
834,861|
Salesians of Don Bosco UK **44**
## **Notes to the accounts** 31 December 2023
## **14 Staff costs and trustees� remuneration** (continued)
**----- Start of picture text -----**
2023 2022
Charity £ £
Staff costs per function were as follows:
Publicity and promotion 94,042 69,109
Savio House Retreat Centre, Bollington 210,372 178,005
Support of the members of the Congregation and their ministry 519,451 494,897
Support (note 12) 118,953 92,850
942,818 834,861
**----- End of picture text -----**
The number of employees receiving annual remuneration in excess of £60,000 per annum was as follows:
**----- Start of picture text -----**
Group and charity 2023 2022
**----- End of picture text -----**
|**Group and charity**|**2023**|2022|
|---|---|---|
|£60,000 to £69,999|**3**|1|
|£70,000 to £79,999|**�**|1|
|£80,000 to £89,999|**2**|2|
|£90,000 to £99,999|**1**|�|
|£100,000 to £109,999|**�**|1|
|£110,000 to £119,999|**1**|�|
One of the above employees (2022 � one) is accruing benefits under a defined contribution pension scheme. Six of the above employees (2022 � 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:
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
Publications and promotion 3 3 3 3
Provision of education 100 101 � �
Retreat Centre 8 6 8 6
Support of the members of the
Congregation 26 25 26 25
137 135 37 34
**----- End of picture text -----**
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 (2022 � £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 and the Bursar & Clerk to the Governing Body.
Salesians of Don Bosco UK **45**
**Notes to the accounts** 31 December 2023
## **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 £516,246 (2022 � £480,831).
## **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**
**----- Start of picture text -----**
Freehold Computers
land and and Motor
buildings equipment vehicles Total
Group £ £ £ £
Cost or valuation
At 1 January 2023 31,401,667 2,462,515 131,314 33,995,496
Additions � 406,726 � 406,726
Disposals � � � �
At 31 December 2023 31,401,667 2,869,241 131,314 34,402,222
At cost 22,246,314 2,869,241 131,314 25,246,869
At deemed cost 9,155,353 � � 9,155,353
31,401,667 2,869,241 131,314 34,402,222
Depreciation
At 1 January 2023 7,058,075 2,048,936 131,314 9,238,325
Charge for year 592,232 126,603 � 718,835
Eliminated on disposals � � � �
At 31 December 2023 7,650,307 2,175,539 131,314 9,957,160
Net book values
At 31 December 2023 23,751,360 693,702 � 24,445,062
At 31 December 2022 24,343,592 413,579 � 24,757,171
**----- End of picture text -----**
Included within the net book value of the group�s tangible fixed assets is £90,240 (2022 � £101,397) relating to assets held under finance leases. The depreciation charge for the year relating to such assets was £33,471 (2022 � £11,157).
Salesians of Don Bosco UK **46**
## **Notes to the accounts** 31 December 2023
## **16 Tangible fixed assets** (continued)
**----- Start of picture text -----**
Freehold
land and
buildings
Charity £
**----- End of picture text -----**
|**Cost or valuation**
At 1 January 2023 and 31 December 2023
At cost
At deemed cost
**Depreciation**
At 1 January 2023
Charge for year
At 31 December 2023
**Net book values**
At 31 December 2023
At 31 December 2022|**25,513,231**|
|---|---|
||**16,357,878**
**9,155,353**|
||**25,513,231**|
||**5,474,628**
**408,205**|
||**5,882,833**|
||**19,630,398**|
||**20,038,603**|
## **17 Investments**
At 31 December 2023 investments comprised:
**----- Start of picture text -----**
2023 2022
Group and charity £ £
Freehold investment property (see a. below) 2,250,000 2,250,000
Listed investments and cash held for re-investment (see b. below)
. LGT Wealth Management UK LLP 7,774,671 7,540,543
. Cazenove Capital 8,869,634 8,275,175
. Rathbone Investment Management Limited (charity) 17,641,181 18,161,430
. Rathbone Investment Management Limited (Salesian College
Farnborough Limited) 960,447 931,323
35,245,933 34,908,471
Group total 37,495,933 37,158,471
Less: Rathbone Investment Management Limited (Salesian College
Farnborough Limited) (960,447) (931,323)
Charity total 36,535,486 36,227,148
**----- End of picture text -----**
Movements on each category of investment are summarised below:
## _**a. Freehold investment property**_
|**_a. Freehold investment property_**|||
|---|---|---|
|**Group and charity**|**2023**
**£**|2022
£|
|Market value at 1 January 2023
Unrealised losses arising on revaluation
**Market value at 31 December 2023**|**2,250,000**
**�**
**2,250,000**|2,325,000
(75,000)
2,250,000|
The investment properties were revalued at 31 December 2022 by the trustees with professional assistance from Foxtons. The trustees are of the opinion that there have been no material changes in the value of the investment properties since that date.
Salesians of Don Bosco UK **47**
**Notes to the accounts** 31 December 2023
## **17 Investments** (continued)
## _**b. Listed investments**_
**----- Start of picture text -----**
2023 2022
Group and charity £ £
Listed investments (LGT Wealth Management UK LLP)
Market value at 1 January 2023 7,418,939 8,321,682
Additions at cost 2,149,521 3,131,482
Disposals at opening book value (realised losses of £19,973) (2,318,169) (3,111,828)
Net unrealised investment gains (losses) 428,626 (922,397)
Market value at 31 December 2023 7,678,917 7,418,939
Cash held in short term deposits and by investment managers 95,754 121,604
7,774,671 7,540,543
Cost of listed investments at 31 December 2023 7,561,377 7,955,685
2023 2022
Group and charity £ £
Listed investments (Cazenove Capital)
Market value at 1 January 2023 7,982,221 9,167,823
Additions at cost 2,835,749 2,687,312
Disposals at opening book value (realised gains of £114,075) (2,873,096) (3,130,119)
Net unrealised investment gains (losses) 800,546 (742,795)
Market value at 31 December 2023 8,745,420 7,982,221
Cash held in short term deposits and by investment managers 124,214 292,954
8,869,634 8,275,175
Cost of listed investments at 31 December 2023 8,388,508 8,538,346
2023 2022
Group and charity £ £
Listed investments (Rathbones Investment Management Limited
(charity))
Market value at 1 January 2023 17,846,243 19,556,476
Additions 1,834,884 2,809,501
Disposals at opening book value (realised losses of £36,003) (2,832,023) (2,475,139)
Net unrealised investment gains (losses) 149,822 (2,044,595)
Market value at 31 December 2023 16,998,926 17,846,243
Cash held in short term deposits and by investment managers 642,255 315,187
17,641,181 18,161,430
Cost of listed investments at 31 December 2023 13,817,938 14,404,761
**----- End of picture text -----**
Salesians of Don Bosco UK **48**
## **Notes to the accounts** 31 December 2023
## **17 Investments** (continued)
## _**b. Listed investments**_
**----- Start of picture text -----**
2023 2022
Group £ £
Listed investments (Rathbones Investment Management Limited
(Salesian College Farnborough Limited))
Market value at 1 January 2023 912,098 1,009,755
Additions 100,079 177,354
Disposals at opening book value (realised losses of £40,117) (162,110) (164,950)
Net unrealised investment gains (losses) 41,775 (110,061)
Market value at 31 December 2023 891,842 912,098
Cash held in short term deposits and by investment managers 68,605 19,225
960,447 931,323
Cost of listed investments at 31 December 2023 940,600 854,584
**----- End of picture text -----**
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 (see note 19).
Listed investments held at 31 December 2023 comprised the following:
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
£ £ £ £
UK equities 14,325,675 16,640,164 14,011,185 16,238,876
UK fixed interest stocks 4,550,072 3,718,936 4,452,525 3,603,416
Overseas equities 12,188,820 9,909,353 11,829,288 9,639,923
Overseas fixed interest stocks 331,720 405,549 305,706 405,549
Alternatives 2,918,818 3,479,041 2,824,559 3,359,639
Cash 930,828 755,428 862,223 729,745
35,245,933 34,908,471 34,285,486 33,977,148
**----- End of picture text -----**
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 2023.
Salesians of Don Bosco UK **49**
**Notes to the accounts** 31 December 2023
## **18 Debtors: amounts receivable within one year**
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
£ £ £ £
Education fees receivable 6,335 � � �
Sundry debtors 72,535 77,556 70,177 72,661
Prepayments 358,019 460,811 � �
Legacies receivable 126,000 126,000 126,000 126,000
562,889 664,367 196,177 198,661
**----- End of picture text -----**
## **19 Creditors: amounts falling due within one year**
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
£ £ £ £
Education fees paid in advance 657,137 739,907 � �
Bank overdrafts and loans � � � �
Expense creditors 168,349 211,242 2,719 3,792
Taxation and social security 109,557 99,387 � �
Loan in respect to development of the
community house, Battersea (see (a)
below) 1,000 1,000 1,000 1,000
Hire purchase obligations 33,471 33,472 � �
Other creditors 174,861 90,466 � �
Deferred income 340,667 380,373 83,421 �
Accruals 600,459 216,447 446,934 85,822
2,085,501 1,772,294 534,074 90,614
**----- End of picture text -----**
During the year ended 31 December 2023, the group and charity had the following loan facility with Rathbone Investment Management Limited:
- (a) The charity has a loan facility with Rathbones Investment Management Limited for capital projects. The loan account currently has a balance of £1,000 pending future use for projects that are being planned.
The loan outstanding at 31 December 2023 is 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**
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
£ £ £ £
Education fees paid in advance 227,764 231,121 � �
Hire purchase obligations 56,769 90,240 � �
284,533 321,361 � �
**----- End of picture text -----**
Salesians of Don Bosco UK **50**
**Notes to the accounts** 31 December 2023
## **20 Creditors: amounts falling due after one year** (continued)
**----- Start of picture text -----**
Group Charity
2023 2022 2023 2022
£ £ £ £
Deferred income
Deferred income at 1 January 2023 1,351,401 993,315 � �
Released during the year (1,120,280) (813,515) � �
Resources deferred during the year 994,447, 1,171,601 83,241 �
Deferred income at 31 December 2023 1,225,568 1,351,401 83,241 �
**----- End of picture text -----**
Deferred income in the charity consists of rent in advance received from Salesian College Farnborough of £83,241 (2022 � £nil). Deferred income in the group consists of fees for school trips received in advance of £340,667 (2022 � £380,373) education fees for Salesian College Farnborough received a single year in advance of £657,137 (2022 � £739,907) and more than one year in advance of £227,764 (2022 � £231,121).
## **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:
**----- Start of picture text -----**
At 1 At 31
January December
2023 Income Expenditure Transfers 2023
£ £ £ £ £
Overseas funds 707,035 334,583 (182,940) � 858,678
Bursary funds 33,758 9,098 (12,178) � 30,678
Development funds 77,956 (47,100) � � 30,856
Legacy fund 545,797 � (600) � 545,197
Group total 1,364,546 296,581 (195,718) � 1,465,409
Less Bursary Funds
Farnborough College (33,758) (9,098) 12,178 � (30,678)
Charity total 1,330,788 287,483 (183,540) � 1,434,731
**----- End of picture text -----**
**----- Start of picture text -----**
At 1 At 31
January December
2022 Income Expenditure Transfers 2022
£ £ £ £ £
Overseas funds 726,570 302,252 (321,787) � 707,035
Bursary funds 34,508 10,175 (10,925) � 33,758
Development funds 33,923 44,033 � � 77,956
Legacy fund 548,297 � (2,500) � 545,797
Group total 1,343,298 356,460 (335,212) � 1,364,546
Less Bursary Funds
Farnborough College (34,508) (10,175) 10,925 � (33,758)
Charity total 1,308,790 346,285 (324,287) � 1,330,788
**----- End of picture text -----**
## _**Overseas funds**_
This fund comprises monies for Salesian work carried out in selected overseas locations.
Salesians of Don Bosco UK **51**
**Notes to the accounts** 31 December 2023
## **21 Restricted funds** (continued)
## _**Bursary funds**_
The bursary funds held at Salesian College Farnborough are for providing assistance for meeting fees in cases of hardship. At 31 December 2023 the fund amounted to £30,678 (2022 � £33,758).
## _**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.
## **22 Designated funds**
**----- Start of picture text -----**
At 1 At 31
January December
2023 Designations Withdrawals 2023
£ £ £ £
Ministry of the members of the Congregation
and their support and retirement fund 15,000,000 � � 15,000,000
Savio House support fund 10,000,000 � � 10,000,000
Youth ministry fund 5,000,000 � � 5,000,000
Pipeline compensation fund 75,000 � � 75,000
Tuition fund � 1,000,000 � 1,000,000
Bootle Chapel fund � 500,000 � 500,000
Educational Scholarship fund � 101,119 � 101,119
Salesian College Farnborough fund 8,308,042 10,551,713 (9,776,451) 9,083,304
Group total 38,383,042 12,152,832 (9,776,451) 40,759,423
Less: Salesian College Farnborough fund (8,308,042) (10,551,713) 9,776,451 (9,083,304)
Charity total 30,075,000 1,601,119 � 31,676,119
At 1 At 31
January December
2022 Designations Withdrawals 2022
£ £ £ £
Ministry of the members of the Congregation
and their support and retirement fund 15,000,000 � � 15,000,000
Savio House support fund 10,000,000 � � 10,000,000
Youth ministry fund 5,000,000 � � 5,000,000
Pipeline compensation fund � 75,000 � 75,000
Salesian College Farnborough fund 7,299,551 9,961,023 (8,952,532) 8,308,042
Group total 37,299,551 10,036,023 (8,952,532) 38,383,042
Less: Salesian College Farnborough fund (7,299,551) (9,961,023) 8,952,532 (8,308,042)
Charity total 30,000,000 75,000 � 30,075,000
**----- End of picture text -----**
Salesians of Don Bosco UK **52**
**Notes to the accounts** 31 December 2023
## **22 Designated funds** (continued)
## _**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 2023 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.
## _**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 2023, 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.
## _**Pipeline compensation fund**_
During 2022 the parent charity and group were in receipt of compensation from a utility company following agreement from the parent charity and group that a 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.
Salesians of Don Bosco UK **53**
**Notes to the accounts** 31 December 2023
## **22 Designated funds** (continued)
## _**Tuition fund**_
This consists of monies which the trustees have set aside in order to support the formation of confrères in their studies and associated costs to ordination in the future.
## _**Bootle Chapel fund**_
This represents funds the trustees have set aside to build a chapel facility in the new Salesian Academy of St John Bosco in Bootle which is being constructed to replace the old school buildings in need of replacement.
## _**Educational Scholarship Fund**_
Established by a discretionary legacy received via CAF. The trustees have derived that the donor�s undocumented wish was to use the funds for educational scholarships and therefore intend to apply the funds & their income to this purpose.
## _**Salesian College Farnborough fund**_
This fund represents the accumulated funds and net assets of the Salesian College Farnborough Limited.
## **23 Tangible fixed assets fund**
|**Tangible fixed assets fund**|||
|---|---|---|
|**Group and charity**|**Total**
**2023**
**£**|Total
2022
£|
|At 1 January 2023
Net movement in year
At 31 December 2023|**20,038,603**
**(408,205)**
**19,630,398**|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**
**2023**
**£**|
|---|---|---|---|---|---|
|**Fund balances at 31 December**
**2023 are represented by:**
Tangible fixed assets
Investments
Net current assets
Creditors: amounts falling
due after one year
**Total net assets**|**�**
**4,859,367**
**1,859,004**
**�**
**6,718,371**|**19,630,398**
**�**
**�**
**�**
**19,630,398**|**4,814,664**
**32,636,566**
**3,592,726**
**(284,533)**
**40,759,423**|**�**
**�**
**1,465,409**
**�**
**1,465,409**|**24,445,062**
**37,495,933**
**6,917,139**
**(284,533)**
**68,573,601**|
Salesians of Don Bosco UK **54**
**Notes to the accounts** 31 December 2023
## **24 Analysis of net assets between funds** (continued)
|_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_
_�_
_7,868,870_|_20,038,603_
_�_
_�_
_�_
_20,038,603_|_4,718,568_
_31,006,323_
_2,979,512_
_(321,361)_
_38,383,042_|_�_
_�_
_1,364,546_
_�_
_1,364,546_|_24,757,171_
_37,158,471_
_6,060,780_
_(321,361)_
_67,655,061_|
**----- Start of picture text -----**
Tangible
fixed
General assets Designated Restricted Total
fund fund funds funds 2023
Charity £ £ £ £ £
Fund balances at 31 December
2023 are represented by:
Tangible fixed assets � 19,630,398 � � 19,630,398
Investments 4,859,367 � 31,676,119 � 36,535,486
Net current assets 1,859,004 � � 1,434,731 3,293,735
Total net assets 6,718,371 19,630,398 31,676,119 1,434,731 59,459,619
Tangible
fixed
General assets Designated Restricted Total
fund fund funds funds 2022
Charity £ £ £ £ £
Fund balances at 31 December
2022 are represented by:
Tangible fixed assets � 20,038,603 � � 20,038,603
Investments 6,152,148 � 30,075,000 � 36,227,148
Net current assets 1,716,722 � � 1,330,788 3,047,510
Total net assets 7,868,870 20,038,603 30,075,000 1,330,788 59,313,261
**----- End of picture text -----**
Salesians of Don Bosco UK **55**
## **Notes to the accounts** 31 December 2023
## **24 Analysis of net assets between funds** (continued)
The total unrealised gains (losses) balance as at 31 December 2023 constitutes movements on revaluation and are as follows:
**----- Start of picture text -----**
2023 2022
Group and charity £ £
Unrealised gains included above:
On tangible fixed assets * 6,793,620 7,459,710
On investment properties * 2,250,000 2,250,000
On listed investments 3,674,988 2,406125
Total unrealised gains at 31 December 2023 12,718,608 12,115,835
Reconciliation of movements in unrealised gains
Unrealised gains at 1 January 2023 12,115,835 16,451,771
Difference between historical cost realised gains/losses on listed
investments and the actual realised gains/losses thereon calculated on
the revalued amounts (151,905) (578,522)
Unrealised (losses) gains on listed investments arising in the year 1,420,769 (3,819,848)
Unrealised losses on investment properties arising in the year � (75,000)
Difference between the depreciation charge based on historic cost and
that based on the deemed cost (666,090) 137,434
Total unrealised gains at 31 December 2023 12,718,609 12,115,835
**----- End of picture text -----**
*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.
## **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**
**2023**
**£**|31
December
2022
£|
|---|---|---|
|**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|**4,814,664**
**960,447**
**450,133**
**4,808,119**
**(1,561,255)**
**(284,533)**
**9,187,575**|4,718,568
931,323
465,706
4,229,244
(1,608,087)
(321,361)
8,415,393|
Salesians of Don Bosco UK **56**
## **Notes to the accounts** 31 December 2023
## **25 Salesian College Farnborough Limited** (continued)
|**Salesian College Farnborough Limited**(continued)|||
|---|---|---|
||**Year**
**ended 31**
**December**
**2023**
**£**|Year
ended 31
December
2022
£|
|**Summary of the statement of financial activities**
Total income
Total expenditure
Net movement in funds
Fund balances brought forward at 1 January 2023
Fund balances carried forward at 31 December 2023|**10,560,811**
**(9,788,629)**|9,971,198
(8,963,457)|
||**772,182**
**8,415,393**|1,007,741
7,407,652|
||**9,187,575**|8,415,393|
## **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.
## **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 TPS is an unfunded scheme to which both the member and employer makes contributions, as a percentage of salary � these contributions are credited to the Exchequer. Retirement and other pension benefits are paid by public funds provided by Parliament.
## _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 actuarial valuation of the TPS which applied during the year ended 31 August 2023 was carried out as at 31 March 2016. The key elements of the valuation and subsequent consultation are:
- employer contribution rates set at 23.68% of pensionable pay (including a 0.08% administration levy);
Salesians of Don Bosco UK **57**
**Notes to the accounts** 31 December 2023
## **27 Pension commitments** (continued)
## _**Teacher�s Pension Scheme (TPS)** (continued)_
_Valuation of the Teachers� Pension Scheme (continued)_
- total scheme liabilities (pensions currently in payment and the estimated cost of future benefits) for service to the effective date of £218,100 million and notional assets (estimated future contributions together with the notional investments held at the valuation date) of £196,100 million, giving a notional past service deficit of £22,000 million; and
- the SCAPE rate, set by HMT, is used to determine the notional investment return. The current SCAPE rate is 2.4% above the rate of CPI. The assumed real rate of return is 2.4% in excess of prices and 2% in excess of earnings. The rate of real earnings growth is assumed to be 2.2%. The assumed nominal rate of return including earnings growth is 4.45%.
- The latest actuarial TPS valuation results, as at 31 March 2020, were released in October 2023. The valuation result is due to be implemented from 1 April 2024, from this date employer contribution rates will increase to 28.68% (including a 0.08% administration levy).
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 2023 was £710,487 (2022 � £654,100). The total amount charged to the charity statement of financial activities was £nil (2022 � £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 2023 and charged to the group statement of financial activities amounted to £98,536 (2022 � £98,460). Contributions payable charged to the charity statement of financial activities amounted to £37,681 (2022 � £32,788).
Salesians of Don Bosco UK **58**
**Notes to the accounts** 31 December 2023
## **28 Leasing commitments**
## _**Finance leases**_
At 31 December 2023 the group and charity had total commitments under non-cancellable finance leases as follows:
**----- Start of picture text -----**
Computer Equipment
2023 2022
Group £ £
Operating lease commitments:
Within one year 33,471 33,472
Within two to five years 56,769 90,240
90,240 123,712
**----- End of picture text -----**
## _**Operating leases**_
At 31 December 2023 the group and charity had total commitments under non-cancellable operating leases as follows:
**----- Start of picture text -----**
Motor vehicles and other
2023 2022
Group £ £
Operating lease commitments:
Within one year 183,449 111,534
Within two to five years 395,153 229,992
Greater than five years � 8,919
578,602 350,445
**----- End of picture text -----**
The operating lease commitments of Salesian College Farnborough Limited to the charity in respect of its premises are eliminated on consolidation and, as such, are not reflected in the group commitments above.
**----- Start of picture text -----**
Motor vehicles
2023 2022
Charity £ £
Operating lease commitments:
Within one year 113,203 91,131
Within two to five years 280,500 89,768
Greater than five years � 2,824
393,703 183,723
**----- End of picture text -----**
## **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.
Salesians of Don Bosco UK **59**
## **Notes to the accounts** 31 December 2023
## **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 2023, £60,333 (2022 � £71,183) was receivable by the charity, being pensions and salary income of the trustees donated to the charity.
During the year, a grant of £5,200 (2022 � £nil) was made to SHARE (Salesian Hearts Advocating the Relief of Poverty by Education), a charity on whose board of trustees the Reverend James Gardner serves.
There were no other related party transactions requiring disclosure during the year (2022 � none).
## **30 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 **60**