Wèstminster Cathedr41 Chdr School Fund nual Report and A¢GtyJnts forth• yr endad 30 S•pt•Mr2o23 Chlty Registrthon Nwrtsr 276878
Westrninstsr Cath•dral Cholr s01 Fund AcGDunts fw the ended 30 S•ptemlMr 2023 Trustees. reF( 10 11-12 1&15
Weytmlnstsr Cathedral Chok School Fund Accounts for the •nd•d 30 S•ptsmbor 2023 L•gal arml Almlnlstratl¥• Infomiation Trnstoos Mark Cdlr Hekn8 POWTII Prfnclpal addr•s8 24 Had(ett5 Lane WokirvJ GU22 8PP Charlty regl8tratSon numb•r 276878 Ind•p•nd•nt &amln¢r Peter Hil FCA Hilyates Hil Ho. 27 Me&y CB113QL count*rts 130 W¢Kxl Street EC2V 6DL Inwstm•nt man#ge Charles Stan18y and Cfmnp Lmmitl L EC2N IAS Bank•rs Royal of ScollarKI 1 Fleet Street LIdOn EC4Y 1BD Pe1
Westminst•r &ithedral ChoSr School Fund At¢ounts for th• y•ar •nded 30 Septsrnber 2023 The trustees present their stalulw rérxmt tWwith the ac£¥Mnts of Ihe Westmnster Cathethal Choir scho Fund the ejg 30 September 20Z3. accounts have been prepared In with the a(OtIj polie8 sel out on pages 11 and 12 of the attathed a)unt$ ccwtywiih the tharitys tnt8tdÈèd, wlicablè18WS 8nd Accounting and Reporting by charit$. Slalement of Recommend&1 Practi(% apICable to iitiès prepariThJ th'r accounts in accrydw with Fina app4atrA8 in the UK and Rèpubllc of IrelaTrJ IFRS 1Q21. Govèrnan¢•, StructuY• and Govemance Th& fund is constrbJted by a Iwsl deed dated 26 Septwntrw 1978 aThJ is registered with the Charity Conxnission. Charity Registration No. 276878. Underthe trust ¢ked. the FoNer of appointrnenl of tntstè8s was v&st&J In C8rdlnd Basil HLune. during his lrfètime and thereafter in the existing Iwstees. Since Cardu)al Hume's death In Ju 1999. the FM)wer of 8PP(Mntment of tnjstees B now vested in the Iw51ees. Trust•O9 The twstees in office Lknring the as fdhNs'. Mark Colllns Joanna Slgphgns Helena Powèll IAppoknt8d 28 November 20f2) The Iruste8s agreed at a meetlng on 9 March 2022 fc Hekn Powou 10 4)polntod as a trustee. The do8d 4¥Iry Helena was sWJ1 on 28 Novernber 2022. On agreeing to beco a trusiee oftre C"ty, the tnLstees e thwFty bri8fèd by thèlr ¢trtr8teeS on Ihe histry of thè trust, Ihe day-to4ay rnanagemt. the respon5ibikiies of INstee6. the current tljiectives and future F4ans. The trustees are a50 encowaged to attend any courses whth they fed we rdev8nt to ts dov8ky1l oflheir rol&. to keep upttrdate on any changes in legisLation. No Iruslge receNed any remunewation ser¥ices as a Iru5ts812022. £]}. No truskè r8wnburs8ment of ex¥s12022- Q¥l). Tru¥teBS' R•sponslbllltOes SLwnent InLgtees are r8srKJnsibl• for pr•par¥J trtee5, re[ and in aciLdance with applcabl8 law and United A[Lfttin9 IUrMbJ Kwylom G8[allY Attept8d Accounting pract81 The law applicable to charities arvj Wl wires the Irustee5 to prepare accounts for eath fin8n(llal ar whlch ve a and faw view of thè staté of affaws ofth& dritY and of the in¢ome ar exsrMlltur8 01 th& tharity for that Pw2
W8strnkn$ter Cathedral Cholr School Fund ounts for the y•arènded 30 Sept•mbgr 2023 Trustees. Rospon•lbilltl•s Stat•mert (contknuedl In preng thÈsg accourts. Itee$ are rewlr8d to.. . select SUTtable accounting pclw aThJ then aPFAythem rs1. obsèrve the melhods and principles In AtUnIg aThJ ReFxffiiNJ bycharitres: Slatement of R0Mmended Pr8cUce apIcable to ¢h8rities Ihw ar£(nts n accc¥tsn¢e wllh Ihe Financtal Rewr11 Slandard applieAble in the UK arKI Rgpull of Ireland IFRS 1021" . makgludgements estimates Ihal are r&is(mb18 awKI KIent - stale whether 3cable Unilgj Kwodom A¢ntry SlaThJards have been fdknwl. subjèct lo any material dep4rture$ thsd05ed and Èxplawl in the a(x(MJnts' aFKI - prepare the accounts on thè Cc(eM basis unkns il 15 ThkVry)rte to pre5Lm trAt chwrty will Contin Th8 tw$tees are responsble lor keer0 pri4)er ac0>Tha r)rdS that dEdo8e th rèasonable 8CQJT8Cy at any tim& the financial post of Ihe lty thern to ensure Ih8t the a¢¢ounls ¢omply wFth the Qwrilies Act 2011. thè Clwty {Accwnts atKI Rep(isl Rtiorts and the provisi0r of Ihe charitys c0rtsttlutn. Tlw we also resS4b1e for safearding the assets of the drttY and hence fc lakn.ng reasonatle step5 the pre¥t a1 detackn of fraud and other irregarrI. The trust88s we reswjnsiblè fc mawrtenaThx and Integrity chality0 ffinarKaal information inckjded on the Charily commiSn.3 webslte. Legitrm in the Uni18d Kingdom goveming the prgparation and diss8nMrMtm dacctyjnts may dtfkr from legislation in otheriLwBthctlons. Struclure and Managmnt Roportkny The truslees are ultHnalely respc1b1e the thlbès a$ assets of Ihe charity. They urrenuy m88t mOtY by Zc¥)m at188St annualty to the develcyments wilh règard to the charity, rts grant givir¥ aCiNeS lo ma(e any ImpKrrt decasi?ns. When neixssary. the trLtstee$ seek advice support fr( the charitys rKOless ajviws investrnenl managers arTrd 8cwuntants. The dayto day management of the chariirfs activllÈs. arKJ the imFlemts.on of pe5, is (aThied out by Joanna Stèphèns wlk) ereS that grant paynts ar• administered thle the bcx)ks awKI rewds ol lh8 charity are mantabwj by &Izzt LLP. Chrte A(xounlants. At ther meetings the trustees review the investment FerformaThx and the prDF*)sals fN grgnts to b& made arvov8 such grants as 8Fyorfftte. R15k Managom•nt Th6 tmstÉe8 have assesse(I the Ma1 risks to whith the charity Is expo8gd. in parbcular thos8 relating lo the speo'ffic operational areas of Ihe charity, its investments 8r¥J its finances. Ttr tru8leeB believe that by monitoTirvJ reservè knls. byensLFri)g Ix)ntr(Is e$t over key fin8nclal Systems. and by exanuning the OFerationd bu&rw risks faced by the char6ty. they have eslablishèd 8ffedNe systems to mdvJ8te those risks. In partir, mvestments arg reviewed at KJrrtNy wrtervals thjring the Yr. Page 3
WesimlnstsrCath•dral Cholr Schtyjl Fund ¢ounts foff the JarfjndÈd 30 Septernb•r2023 Tn005. R•port Iwitlnu•dl tlvltlos. Sp•¢mc Oblectlvets MI Ro1ovnt Polkl•s Charltable ObAoctlvg• Thè Inccrn of the truStfi B to te appued to tr) Rrrn cathol faith in th8 Dlo¢e58 of Westsnlnstsr and otgwts kn akl ofthe We5knanstÉr Calhthl CrS¢I1)r. tl¥ltl•s The Twsts incom8 is from ds ¥88thnIS and inler8sleamed. lits grants that prorT¥)tv the Roman c81$111h in Ihe DKK•s• ol Westrmstw. Slnce its incepbon in 1978 the fuThJ has £1.413.948 In dCt8. OurwvJ 1he say perknd an Investment Jnd of£3.259.557 has buill Ly wants Df£4.333,624 have been nle to the school. This year, the tntstees received rKI unrestrkt8d drmalkns12022-£ndl and rradp grants to the schod of £90,00012022- £90,(#JII. A b)an wa5 [ae to Ihe CIK4'rSclh)ol d £200,OC4) dum9 21X)g. Thi8 was used byth8 sch to help fund th8 refuTbi5hm&nt wo. parti(jJknlYtt ofthe dwnmtory Co[[LIa1. Th8 Schc)I has agr88d to repay the ban and th8 Jan was in luu in Nov)tsr 2022. The rfW8ment li funds frKthe y88r is $Tr the Slatert of finaniial adwibEs page 9. Grant Makkn¥ Pollcy Th& twstees cork8bJw •prAW$ from Ihe ¢>)VeM ofthe Choir Sclvx4 prinrypaty to tthe (thts of c[SterS which are )10th@Se met aut of feè& Tlw also cL¥)der reysts from ts GrTh¥s exceptional items needed for Ihe nefit of Chor ScFNy)L Charles steY and Conwany Limi18d ad as ¢ustrKILgn. hokfvj ihe pcthl) of inv8str1nts in thÈlrnomin88 rome (Rock Ncthnees Lited). Their bf L8 to afvi88, buld up and manage an Thle$tftnI portfrjlo cffi a At 30 September 2023, the ¢harityhad a (rf kn¥estnts Mth a marf(et value of£3,259,557 120Z2- £2,800,7521. The ¢ash hekl p8ThIiNJ inves11 at 30 septYthr 2023 was £nil12022-£4,e671. Th8r8 8r8 rethction8 Lthatws tKYhV to inv8$1. Th& inv8sthnt strategy Is sei by the trustsas tskes into accounl incorne requrements. the ii5k yt*Sle and thè investrrnnt mana9¥8 of the market prospects in the medin twm. The o¥eraM lnv8strrt to maxMni$8 total retsjm tlwough a thvers porttolKJ, MIng to promde kvel of irthxjme adviwj byth8 trL&S and, al tt)e sam8 Ivne. %Mth a vlew 8n5uring thatpital appreoatiDn ol the fund 8XC80ds over any five year perkxl. Page 4
Westmlnstèr Cattwdral Cholr School Fund Accounts forth¥ year ended 30 SepternbeT 2023 Tru5tees' R•wl l¢ontinu•dl Inveslm•nt Pollcy. A8s•t Ajocatlon Icontlnu8d) In19 reserves tKAicy. the trustees have instnKbY the irNesknenl maerS to irNest the ¢awtsl of the Fund to produce a balance of irKome aThJ caylAI grtrwih, lo maintaln a meth" risk profil&. and to maintan a spread of inveslments beiween fixed interest securi15 and e(wities in such a way as to ffl88t thè r8(xJrrir¥J ann1 exkvKlthre of the Fd. To meet these obje¢lives the aet arati( arKJ strategic rarg8. as at 30 Septemter 2023. is os follows.. loeallon 6.80% 81.46% 11.73% RaNJ• 10VD- 40¥. 30Vts- 90% 0%-10% 0%-50% The b8nehmarks for measuring performance arè the FfsE Private Invs5k)r Balanced Index aml Ihe FTSE Al Share Index. Duriw the year to 30 September 2023 lurnl increas&Y by 16.1W 12022.. decreased by 22.57% } o)mpared to the FTSE Private Investor Band Index. increased by 6.51% and th• FTSE Al slwe irhjex bonchmath which increased by 13.84%. Constraints are as fcAkns'. UK IIx8(I htrest. preferetxe stcdt unft tmsts UK equities Overseas equltl Cash 1. Not more than 8% of the fund should inv8Sted in any st(x. other than crAtiveS and gitt edged stocks. UeSS expfessly agreed by the trustees. No new inveslment shal exceed 6% of Ihe V81 ofthe fd. 2. Th9 income of the fund thuld be deswnod lo grow at knst in Ilne wlh wfflalicffl. Tal should be ncl less Ihan £70.0 per frorn the year b8giMirvJ 1 October 2009. 3. Underth ol new Bsues is pemilted up to 6% Of total value of thg fu. 4. The polky stslemenl revivrt pgwl B evwy two y5 thg prra Of irbve8tment managers is mrlI0red at least 8V8rysix rnonlhs. 5. A minimum of 10% of the totsl vakn slthkl be hekj In BCd$ or to meet the t8m)ty grsnts of £30,0 to the chr sdKd. payatAg in SeptemÈer. J•wary 3rKJ AK¥iI. 6. Elhieal cAJnsideratlcm5 are not to invest in o)mparwes, whose aclMIt85 are OFV05ed to th8 teachi ofthe Rom8n Calhc4ic Church. 7. Up lo 30% of the lotol v81u9 of the Fj be invested in nPaThe$ 1h an equity market Ca[l$stIon of less than £20(kn. altwh ts lèvd rf desired be exlended lo 35% for special rsas($ aKI for a limitèd p8riry1 onty. The Iruslees cw¥der Ihal thr inveslmenl Fdicy is ltj Sa11Y irWemerrted. Achlev•m•nts and Perfonnan Rovlew of Activitlgs Total investment incom8 received n the )ear omwnted to £128.101. vthith equates to a yield of approximately 3.93%. The trustees awartled m lolalling £gJ.OiX) during the year In acCn th thè charftys grant Oicy sel out DetaiL8 01 th& are provided in note 3 to the attached accounts. Thè tnBtses fed that their otyoctives havè been akn4uatety met durw ar. Page 5
Westmln$ter Cathèdral Cholr School FuTrJ Ac¢ounts for Iho year tnded 30 Septsmbar 2023 Trust••s' Report {contrued Revlow of ActMtl•s Icontknu•d) Howwar. the trustees 8re 8ware that Ie 8xlnal lths 4vWI (xxjkl aff¢ct the Bchhvements rA their objectives as a snifi&t part ofthe charitys assets arè m&Je of inveslm8rbts and cash. ihe re8uits of which are deIEnt on Ihe general of the UK and oversèas stock markets. In order to mlnimise this. thg trustees have set Fudt invgsbnent policies and tA8¢e rlan on the Inveslrnent manager8 to rtkX)itor and PJ on irbvestment ¢h•ys and suitable assét 8Mo¢ation. Flnonelal R•¥l•w Rosuft8 for the year A summary of the y$ res1$ can be fournl on p¥Jè 9 of the reF(Wt and aaunts. DurtrKJ Ihe year ended 30 Septhber 20r3. trA81 in(x)me anYJJnted to £128.72212022- £150.6841. being income arisirvJ lh& tsitvs investmwts arKI cash The trustegs made grants to Westminstér Catra1 c1r Sth(x)l Fund totallltYJ z,000(2022- e90,0001. After deductig the eosts of raisry ld5 of£20.92412022- £20.9511 aThl supwrt costs of £9,948 {2022- £7.0381. nel p)sitKJn for ifore inve$1rnentrtS was a surplus 01£7.850 {2022- £32.6961. There were net #ive81rn8nt 98ins duriThJ the year ot£260,287 {2022- h)s88s of £882.7321. Thls su11 in a net increase in funds (kjring lh& year of £268.13812022- decrease of £850.036.} The net assels of thè eharlty at 30 Seplemb8r 20Z3 I0118d £3,244.089 I2022- £2.975.951). Rgww$ Pollcy and FIDanclal PIllon Reserves Pollcy Thè twstees aim to maint8ln aft exFThlable fLmd of Suffici sEe trJ ihe fin&la1 ed$ ofthe Choir School. &Jffkx8nt reserves hekl lo ntthe terrnly awards arwj wming costs. The balance of fvn¢ts are vested to provKle 81ovel of incc¥Y c(¥nmenswe the level of rKJmial recurring expendibjrg. The trustees arg ofthe opinbn that the rAJrrént l•val of reserves suffident fflexit4tyto covor tsrnporary shortf8lls in inccmiry resourrts to Onwr¥J in fl(Avs. Flnan¢lal Posl¥on Thè balare st SI total funts (aThl free re5eN8sI of£3,244.089 at 30 Soptemr 2023 12022- £2,975,951). The trustees consider that ths level of fr98 reseNes matches Ihè pam•t8rs sel out in Ihè charftys reseryes polky pknve and trw, therefore. ttjnsklèr SelVeS to adewats but not Pag8 6
W•stminthr Catldral Choir Sthool Fund Aceounts for the y•ar•nded 30 Septembèr 2023 Trustees. R•port Icontinu•dl FutuYÈ pl•ns Th8 trustees do antrdpate Chan tothg tharity its over the next o lo ffive ye8TS. 11 is ther intention lo meet fol ot4ectNts". . To rnrrilor Investrnent perfEm BO that rfat al w55itrle * achbv8s tho set by them 50 Ihat ihere are SuffKl fLKKJs to their an1 givvy Fmthies. - To continue to make fft al a smlar. if 1. Publlc ben•fft Tha In1eS confimi th81 thgy have had rvgwd to the Charity Commisn5 gUIda publc b8ngfft. Inqlependent gxwnlner Tbe indepen(*nl exniner, Mr Pèter Hll. wll be for Approved by the inBtees arKI spjned ffi Iheir behalf by. Trusteo )prov•Y by the trustees on.. 4-1Tr11 Page 7
W8•lmlnlor cath Cholr Sthool Fund
unt• th• year •nd 30 SoPt•mb•r 2023
Indep•nd•nt Eymlnerfs rgport to the Tyustees dWestMln8tsr Cathedrnl Cholr School Fund
I repcrt lo trustges on my e¥Aminatkffl of the accoun15 (m pe$ 9 tr> 15 01 wéstmSter Cathedr81
Ghoir SchGd Fun(J I'the trL1}fOr year ended 30 S•Lr 2073 whkh (xxnpw the 8iateTrent of
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Charttles Act 2011. My has been Lwthtsken so Ihal I rnh1 5tste lo thg (tsity$ tntsle95 those
m8tt•rs I r&JUWl lo st8t• to thi5 p(rt no purpose. To tr fulgst •xtfjnt
pgmiltted by law. I do accept or8ssvme r8sF¥Yti'ty to any other ihe chwity Ih
tharws intsteas as a t%Jy. for my work. fcrf tr¥s forthe opriorB I have [MJ.
Re$ponslbllltlès and ba•ls of r•ptyt
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I rowi In rg¥ci of my exanin&Kxb d Ihe aCts canied out uThJef 14S
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Charity CommIsS urM18r sthXI 14¥5Xbl ol thè hA.
kn Indepmlent exwminatNxh &aeB i"r¥J thè oviduw2 thal w(AthJ be reqred in an
8udit and C£SeonIty (bes not
Ae¢ouJts for th• ar ende¢l 30 Septsmber 2023 Ststement of Fln¥nclal Actfvtths Unrgstrictad fvnds 2023 Inc¢xno from". Investments Bank Interest Tothf Income 2022 £ 128,107 615 £ 128,722 1SJ,684 E¥p•ndXure on: Raislng fund8 Charitable adi¥6tS Total ¢xp•ndltur• 150.684 20.924 99.948 £ 120.872 20.951 97.038 117.989 Nel Incom• b•fore g4ln8 and IDJ8•B Net gains on Ihe r8vdvalron and ilisposl ol Reallse(I - UnreatisJ 7.850 32.695 9.460 £ 250,828 13.(KJ11 879,730 Net mov•m?nt In funds Fund balane• brougm tonard * 1 Oetob•r 2022 £ 268.138 £ I850.036} £ 3,825,987 £ 1975.951 Fund baknnc• cwl•d lornrd at 30 SgPt•mber2023 £ 3.244,089 £ 2,975,951 conlg OPWk>n Atl ofth8 acti1$ oftr• Charfty*ETr deri¥Bd frthn c(thuing ratiOnS d9 above finaal years.
counts for the year ended 30 soptw 2023 Balance Sheet 2022 Flxod assots Investsnerts • markèt Cash awaitsng inveStml 3.259.558 2.800,752 4,667 3.259.558 2.805,419 Curr•ni •ss•ts Debtors Cash at bwk 2nd at futKI manays 1.228 86,283 87,511 73,248 273,248 Currènt Ilabllitle5 Amwnt committed to the Sthool 2022r23 Olh8r aedit$ Not cumni assets I,[)) 12,960 19LI,O(Y)) 12.716 (15.469) 170.532 £ 3.244,089 £ 2.975,951 Net ag8ets Repre•ented by: Funds and Res•r IrKomè funds - UNr1ded funds £ 3.244.089 £ 2.975.951 We approve the acojunts set 9 to 15 GcnfKm thal to the Lwt of wr k)wledge we have aVaab rekniant rec 8Th1 inlumalv)D fcw their pr6parntii)n. Approved by the trustees and syl1 ¢)n theK beidl ty. Trustse AFvrovèd . (* 17 / 2Lt PwJ8 10
W•tmlnster C4thedr Chotr Schod Furn ounts for the year ended 30 September21YtJ Basls ofAccounthig The acctMrts h8ve t under Ihe thoral cost IventI[l with items Wr8od al ¢osl or transgclth value unless stated the rthvant a1lountK pciÈs below LY tha nota3 to th&s8 a¢xo(mts. The arunts have ken wèpar8d rn acrlKd8n with by Charlties.. Stat8m&nt of Recommended Practice appllcable to chariltés preparing ra(nts in acwdance with Ihè Fin8nci?l Standard applic4)le in the UK and Repuk&c ol Ireland ICh8ri1tes SORP FRS 102), thè Financial ReP)r StsThJard applie4b in UK arld of Ireland {FRS 1021 8nd the Charives A(a 2011. The charity con$titirtes a tefft tya9 dthed by FRS 1(Y2. accounts mented in slerkng arml arè lo th& reSt p. Income Income is r8cDJni5ed in the pericxj wi which th8 charity to rèceipt and the anhxmt can be measured Mth reasonable certainty. InciTr ta defwred the charity has to [Lfil [ndItiOnS before becoming entrM&d to Ilor Where donor orfunder has Skwrfied that Ine is to be èxpended in a ftrture ac(sJnts"ng Ofvld•od8 and InterEst DivKlgnd8 arg in¢hJded in thg Stem8nt of Fts181 A¢bvitiès when tlware re¢b. and olher Inter1 is inckthd in the St8tem8th of A(thibes on an ac(xuals basls. Reamsed Galns or Loss•s on Invesinnts R&alisÈd galns or losses are calculated by (lediKng thè openiry mathet value of the Jnveslments Expendlturo and th• Ba#ls ofApportkning Costs Expenditu is fvlU in the Slatement ol [nanCi Activities aitributablè Value Added Tax whith ¢annot be reo)vered. Ralslng Funds Expgnditurg cm rarslng of IrKUT in investment incoThbè. B. Charltsbl• dvlt188 Grants to the 8chool are chty to SlatThnt of ActNitles kn IhÈ year in whirh they ar authorised by Ihe twstees. Th8 means that the lemifyaw8r(ts thys shwn ts the fc4knwing scholastic year. C. Support Costs $lrt costs compris& costs whtth canw b• diredly to the charilys athivlliès. These costs have beèn wholly al(K*ed to charitabje adivrt5 because anyafkKatK)n beh¥e8n the haadiS would be immateri. Page11
counts for tha year endèd 30 September 2023 PrfncW Pcountlno Politi95 (cantlnugd) C$h Flow The disdosure exèmptions pemitted by Urrtlate Bulknth 1 of thè ¢e5 SORP FRS 102 have been taken advantage of in thes8 accounts a Stat of (ash knvs hos been TKepared. InsIMOnt$ Inveslménts are includ8d on the l)alance stwt atthw mthel ai Ihe YJ of lh• [maal p. Re81ised and unrealid gains and bsses we ct8th"ted, or deW. to the St8terrthl of Finandai Activ1S In th& Y in WCh thoy arise. Taxatlon The chaTtty is a leer8d clIty therefrKe is not liabk InMe tax tsx on Irne derived frcm ts chwitakk acliwlios, as il faHs ¥ittM the varW5 exeMp1K available to TWter8d drrtIes. D•bloYs Debtor3 arè recognised #t ti1r sedknnent arIKL bss any for Tryabty. Prepayments are Valued at thè am(Ant W8poid. Cash at bank and In hand Cash at bank and in hand represents SWA) acwmts iDstrWTW)Is Ihal are avalabl8 on dern1 or ha¥e a maturity of * than three montts It lh8 date ol acxJuisitM. Cradttorn and provlslons Creditor5 and proyisions are reC£fjTw ttwe is an oLoatw)n ai the baknce She date as 8 result of a p• evenL It is probth that a transfer of benefit win be ru1red in settlement. and th6 amount of thè 5ethem8nt GYL be estsmated rdlabty. Cr8dit(M5 FwovisN)ns * rec(4niwJ at the wi0t thè anbcipales it wiu p8ykn $6tU8 the debL Fund aecountlng Thé funds of th8 chwty are ail Umestrided aThJ 8vt4è use yi Of thatitys cctives at the of ts trustees. Crltlcal accounllng e•tlmatss and ofludgenwrt eparw these acwunts. The trust8es ha¥6 mwjg Ihis a55essm8nt in respect to a perK)d ol one year from the date ol apwov81 oflhese accwits. The trustees recognise the thffiCE ec¢mnK aj eLm1irn lo tske a n9 of tha fijnd. Hov4ever, thg tsustees have c(yvJuded thatthese ¢urtwrt wents aNI cu¥Jitsons do not ¢ast slgnifjcani doubt Ihe ability of thè chity ¢cffitm as a [ng cortem. The t1885 #re oftho opinm thal fv charity wll have sufficiert Te8($ to moel Ilslobrititrs as fvyfall (kn. P8 12
weStmCOthtth1 Cholr School Fund Acmunts for the yeAr oftded 30 Septtmbor2023 2022 Irom sted investftts Equilie5 118.519 9,588 142.644 £ 128,107 £ 150,684 2 RsIng fw 2023 2022 20,4 20.951 £ 20,924 £ 20.951 3 Chtabl* actfvitl•¥ 2022 Granb p8yablè to sLknol TemAy awdrds Suppr¥t co8 (te 4) 9,948 9LI.000 7,038 £ 99,948 £ 97.038 4 Supptyt costs 2Q23 AccountrY fe8S IwKlependent examinerfs tees Leg81 fees 6.948 6.318 720 £ 9.948 £ 7,038 13
Westmlnster Catheth Cholr Sci7 Fund counts lorth• year ended 30 Septsmb•r 2023 Notss to A¢counts (wrtknued) 2023 20r2 Mathi vJue as at 1 Oclow 2022 Addttion5 al wst Cost adds from cap&1 events LhswJ5als Market V8lue L (procaeds £252.391 gwn". £9.4601 2.8LM).752 450.9)9 3.531,169 426,627 48.632 242.931 325,946 3,680.482 Net unr89lised inveslment Yah11$5e5I 250,828 {879.730) £2,800,752 Marketvalue at 30 September 2023 £ 3259,558 •lJl listad investments deoltln cffj a recxwised slock ex. Lisbj Investrnents held al 30 S8Pt8mber 2023 cwsed the f¢*4M"Tr3". 149.023 2,611,569 40,160 UK fix8(l int8resC prefer strd w¥J unit Irusts Eqthties Overseas srl&S 221.709 2.55S,358 382.491 3259.558 2.800,752 £2,881.975 Histrrfic (tht at 30 Sept¢mber 2023 £ 2.8TI.986 At 30 September 2023 thère invesimenl hohJiTWJS wrilh a maTk8t vak&e exce8ding 5% of the mafK8t vaue of lh8 entire lisiEd trollO. iwthJhTVJ cash awaitry nyestment. Ss al that dats. The total unfealised as at 30 Septwnber 2023 movements cffi revaluallon and 8re a8 fdknws.. 2023 UnreamS galn$ Inchd Abov•: ckn listed inveslmths R0C111atl0n of nwements kn unT•a45od unr11$&d gains at 1 2022 Add amounts In relatKM) to di$sa}S Add cost adIushthts Less unrealised Investrnerit gains Totsl unrealised gains at 30 SeFrtwnW 2023 20ra 381.572 81,2221 1812221 211. 744,107 52.106 2,295 1879.730) 81.222 250.828 Paye 14
we5tn1t0rcatheaI Cholr School Fund ¢oimts for th• Jarended 30 Sepl•ml)er2023 14otes to ¢ounts1¢ontinued) 2022 Loan to cl)Ir sclKY)I 1.T28 e 200,000 7 Other ¢r•dltors: gmounts Nlhiy due wlthln one y Acwunlancy f Ind8pendenl exarmtrs f885 Investrn8nl mawewl costs 6.318 1,410 810 5222 12, £ 12,716 8 Related puty IT$1•1¥ Pag8 15