Charfty numbér: NIC 1022361Charity Commission for Northern Ireland) CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND CONTENTS Page Reference and Administrative Detsils Trustees. Report 2-19 Trustees. Respon$ibiliti•s Statement 20 Independent Auditor's Report on th• Financial Statements 21-26 statément of Financial Activities 27 Balance Sheet 28 Statement of Cash Flows 29 Notes to the Financlal Statements 30-44
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND REFERENCE AND ADMINISTRATIVE DETAILS Trustees Br E Garvey (resigned 1 July 2022) Br DO Young Br T Gough (resigned 1 July 2022) Br B Monaghan Br C Glavey Br D Gibson (appointed 1 July 2022) Br R Maynes (appointed 1 July 2022) Charty registered number NIC 102236 (Charity Commission for Northern Ireland) Princlpal Address Westcourt Centre 8-30 Barrack Street Belfast BT12 4AH Main Portfolio Managers Cantor Fitzgerald Ireland Ltd. Financial Advisors L&P Trustee Service Limited 75 St Stephens Green Dublin 2 Independent auditor RBK Business Advisers Chartered Accountants and Statutory Audit Fimi Termini 3 Arkle Road Sandyford Dublin Ireland Bankers Bank of Ireland 12 Trevor Hill Newry Co Down Solicitors Napier & Sons 1-9 Castle Arcade High Street Belfast Page 1
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022 The Trustees submit their report and financial statements for the 16 month period ended 31 December 2022. INTRODUCTION The Congregation of Christian Brothers is an intemational Roman Catholic Religious Congregation, founded in Waterford, Ireland in 1802 by Blessed Edmund RI and Sin then has been engaged in religious and other charitable work in Ireland and across the world. The Congregation is now organised into five Provinces across the world- Africa, America, Europe, India and Oceania. The accounts accompanying this report are for the Congregation of Christian Brothers Northern Ireland. This 15 a charitable trust through which the assets of the Congregation in Northem Ireland are held and finances operate. PUBLIC BENEFrr When setting the objectives and planning the work of the charity for the period. the Trustees have complied with the duty to have regard to the guidance issued by the Charity Commission for Northem Ireland under section 4(b) of the Charities Act (the public benefit requirement statutory guidance). OBJECTS, AIM AND OBJECTIVES Charltsble Objects As stated 8bove under Mission, the activities of the charity can be divided into seven main areas.. Formal Mainstream Education Non Mainstr8am Education Social and pastoral work International missionary work Faith Development Peace and Reconciliation Positive Impact Investing Care and Welfare of members Each of these is Gonsidered in tum below- Fornial Mainstream Educalion Historically, the principal minislry of the charity was in primary and post-primary schools. For a number of years, consideration was given by the then Trustees to the establishment of a new structure to take over the trusteeship of the primary and post-primary schools as the capacity of the Christian Brothers to continue as Trustees diminished. Following comprehensive consideration of this matter and significant pr8paratory worf(, the Trustees agreed to transfer the trusteeship of all of Ihe primary and post-primary schools to a new entity. the Edmund Rice Schools Trust Northern Ireland Ltd (ERSTNI> in February 2009. The Company is not controlled or administered by the Christian Brothers. In addition. it was deemed necessary to transfer the mainstream school properties to Edmund Rice Schools Trust (Northern Ireland) to allow it fulfil its objects. The value attributed to these properties was £48m. ERSTNI is a registered charity in Northem Ireland. Page 2
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 From February 2009, the Trust's activities in relation to Fomial Mainstream Education involve the support of the work of ERSTNI and in thal it has, whilst always acknowtedging the independence of that Trust, specrfically provided funding for ERSTNI including the provision and cost of refurbishing their Offi at Baack Street. the cost of the employment of their Education Officer {Executive Officer) and the officer's support staff. The Education otficer is charged with the promotion and development of the ethos of ERSTNI in the schools and this includes Faith Development, Charter Implementation. Edmund Rice Awards. Developing Wodd Immersion Programmes. Stsff Induction, Edmund Rice Education Beyond Borders (including local and global networking), Safeguarding Children and Pastoral Care. ERSTNI is the Senior Responsible Owner of the school properties and is responsible for any change in the status of a school and for any capital works on any of the properties. The Company Members and Directors {Trustees} of Edmund Rice Schools Trust (Nl) are actively involved in all endeavours and works of the Trust on a voluntsry basis. The Trustees regularly receive a written report from the CEO of ERSTNI at every Trustee meeting which encompasses such topics as ethos, school reports, recent and upcoming events, initlatives. amalgamations, capital works etc. The Trustees have promded ongoing support to ERSTNI. This support is one of the charitys main activities under the heading of Fomial Education. In addition the charity has an active role in supporting the ethos of ERSTNI. being education in the tradition of Blessed Edmund Rice and the delivery of the same as articulated in the Charter of the Edmund Rice Schools Trust. ERSTNI Actlvities during tho Financlal Perfod The following is an extract from the ERSTNI Annual Report 2022: In collaboration with Westcourt, the Belfast based Edmund RI Social Justice Centre of the Christian Brothers. a number cf our schools have been involved in a range of activities, mainly focusing on homelessness, advocacy, social justice and the environment. This work has been Somewhat restricted this year. However, a number of schools participated in such activities by intemet or outdoors. A number of our school staff completed ASIST Suicide Intervention Training. The Designated Person assigned to the role of oversight of Child Safeguarding Procedures and Pastoral ca has maintained regular contact with the key personnel in all schools. Trustees have been continuously updated with regard to welfare and other issue5 arising from the ongoing Covid situation. Reports to Trustee meetings have indicated that the relevant policies and procedures are in place in each school and are being implemented appropriately. The responsibility for Safeguarding Policies and implementation lies with the Board of Govemors, Principal and Staff in each school. Schools are encouraged to take advantage of shared good practice within other Edmund Rice schools to review and update existing policies. The process of reviewing the Trust's Safeguarding Policy is now complete. School activities, including Immersion Programme and Edmund Rice Summer School, had to be cancelled this year due to the pandemic. Hopefully. these activities can be reinvigorated in the coming year. Page 3
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Liaison has been maintained with the Edmund Rice Nerk Core Team of the Christian Brothers, European Province. The Trust remains actively involved in the global networking initiative Edmund Rice Education Beyond Borders (EREBB) and. through the participation of trustees and school representatives. have built up contacts and relationships worldwide. The Trust invited teachers to enrol for an online EREBB Leadership Course. Eight teachers registered and this is funded by the Trust. In collaboration with the Edmund Rice Schools Trust (Rol). the Westcourt Centre and the Edmund Rice Education Office in England, initiatives regarding the Immersion Programme, homelessness, advocacy and the environment have also been greatly developed. Preliminary discussions gardIng the dissemillation of training materials on this range of issues has been initiated. The Annual Edmund Rice Awards event for primary and post-primary schools were not held this period due to the constraints arising from Covid and the justifiable residual concern felt by some staff. However. schools were encouraged to conlinue their inhouse activities associated with the event and it is anticipated that the event will retum in the wming year. In regard to the school-based promotion of ethos, whilst direct interactions with staff and govemors were curtailed. the Twst finalised its guidance for Governors. This has progressed to publication stsge and will be disseminated and discussed during the second school tem. Non Mainstream Educatlon The charity owns and operates th8 Westcourt Centre. 1¢h is committed to providing an accessible communily facility )Jvith 8 particular focus on young people who do not attend mainstream schools. While the Westcourt Centre places particular emphasis on youth and young adult provision, the centre offers f8cilities and services for the whole community. irrespective of age. The objectives of the Westcourt Centre are as follows: To provide a centre in the Greater Belfast area dedicated to enriching the lives of the young. especially those at greatest risk of soci81 exclusion. by offering leaming and personal development opportunities. To encourage the young to be confident. thoughtful, articulate and interested in their own social. emotional. intellectual, physical and spiritual development. To develop a capacity, as personnel and resources allow, to identify and meet holistically needs of young. people who come to the cent. To create a distinctive location where 811. particularly the young, can experience a caring and vibrant leaming environment. interact appropriately and transcend dtfferences of ability. gender, religious affiliation, social or ethnic background or political persuasion. Westcourt Centre Activities during the Financial Period The following is an extract from the Westcourt Centre Annual Report 2022: Rosemoun House Classes.. We started weekly classes to help support men impacted by issues of homelessness, addiction and poor mental health. These induded Photography on Tuesday aftemoons and Guitar on Friday afternoons. Mens Shared Skills Pro. ct.. The Mens Shared Skills Group met weekly to help combat social exclusion amongst men aged over 50. The group work on the urban garden area. This space is also being used by pupils from the Beast Hospital School who find it very therapeutic. Page 4
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Homelessness A wareness Week 2021.. We had a week of activities as part of our commitment to Homelessness Awareness Week. And a number of different schools and ministries from across the Edmund Rice European province joined us in advocating for social justice. December 61h 2021: Stormont laLtnch event switched to online pupils from 3 Edmund Rice Prim8ry Schools & Belfast Hospital School presented to the All Party Group on Homelessness and asked questions directly to the Minister for Communitie5 December P 2021". Belfast City Hall Photographic Exhibition & Panel Discussion. Numbers were limited to 20 participants. 10 pupi15 and staff from Edmund RiGe College took part in the event. Speakers included Homeless Connect Policy Officer, Belfast City Councillor and young people from Nl Youth Forum. Focus was on homelessness awareness and prevention and giving young people a voice. The Lord Mayor attended and welcomed the group. December 10th 2021: John-Paul11 Primary 7 class sit out (rolling 20 minute sessions throughout the day) I HELf TklE ,HONELES5 . Page 5
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 safeTALK Trainin Worksho December 9th 2021: Delivered safeTALK suicide alertness training to 10 participants. First workshop since the Pandemic and first time delivering the training by myself. Very positive feedback. ASIST SuiGide Intervention Trainin We delivered a two days accredited training workshop on suicide intervention skills for teachers and staff from Edmund Rice schools on February 1 & 2. Teachers from St. Mary's, Edmund Rice College, The Abbey and Amiagh PS took part. Homelessness Advocac In March 2022, we produced a new photographic project for Partiament Buildings, Stormont to highlight Homelessness. The venue was sponsored by the All Party Group on Homelessness and the exhibition was opened by the CEO of Homeless Connect- the umbrella org8nisation of homeless seNi¢es in Northem Ireland. On March 17th. 1 delivered a video statement on Homelessness to the Special Rapporteur on Housing at the UN Human Rights Council in Geneva. St. Jose 's Colle e Stoke Immersion Visit In June we hosted a group of staff and senior students from St Joseph's College in Stoke on an immersion experien in Belfast so that they could learn about how people are impacted by issues of poverty and social injustice. In between a double shift at the P80ple's Kitchen (food bank, outreach and drop-in serwce5). they visited the Needle Exchange and Rosemount House. The group also Msited Derry to meet the Children in Crossfire organisation and rounded off on their time hereby signing the Peace Wall. Page 6
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 F8118 2022 In August our latest Photo exhibition on homelessness was displayed in St Mary's University in Belfast. This YRS part of the 'Féile an Phobail,, Ireland'slargest communily arts festival and was officially opened by the Lord Mayor. ment at Ihe United Nations I was privileged to be select8d to participate in the UPR Info Pre-sessions which took place at the United Nations in Geneva from Monday 29 August to Wednesday 31 August 2022. Pre-sessions are meetings organised one month before the sessions of the UPR Working Group to discuss the human rights situation in the fvlure States under Review. I was invited to speak on behalf of the Westcourt Centre during the pre-session on the UK on Monday 29th. I was one of a panel of eight speakers representing national human rights institutions, NGOS and civil society organisations. The session ran for one hour and I was given 5 minutes to deliver a statement on Homelessness (and the right to housing) in Northem Ireland and how the situation has progressed since the previous UPR Cycle in 2017. Page 7
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 I produced a Powerpoint presentation which ran at the same tim8 as my speech to provide the audience with visual slides of the key points. l also brought written copies of the statement and a factsheet on homelessness to distribute to those present in the room. My ststement highlighted that Northern Ireland is in the midst of a housing and homelessness Grisis. We have an acute shortage of affordable social housing: we're seeing an increasing waiting list for social housing. more people in rent arrears; greater demand for temporary accommodation,, a shift in the largest category of those presenting as homeless from single people to families. almost 7,000 children registered as homeless, and the 15 deaths of young homeless people between June and July 2022. I recommended that the UK govemment addresses the issue by ensuring the inclusion of a standalone housing and homelessness outcome in the Programme for Government for the Nl Executive in tandem with increasing the supply of safe, secure and affordable housing lo meet the current need. After the event, our written statement. powerpoint presentation and factsheel were uploaded onto the UPR Info Wb$Ite. Schools Pro amme On October 6th l attended the Edmund Rice Schools Trust principal's conference to discuss ways in which Westcourt we can support the Edmund Rice Schools in Amiagh. Belfast. Newry, Glengormley and Omagh on programmes and activities around homelessness, advoGaGy. social juslice and suicide awareness. All Part Gmu On Hom818ssness In November we attended the All Party Group on Homelessness at the Assembly in Stormont. The group heard from officials in the Department for Communities on the Interdepartmental Homelessness Action Plan (IDHAP) and had the opportunity to question how the Nl Executiv8 and the Housing Executive are trying to respond to homelessness. Pag8 8
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Homelessness A w8neSS Week 2022 To mark the start of Homelessness Awareness Week, Primary 7 pupils from John-Paul11 visited People's Kitchen Belfast to leam about theif drop-in, food bank and outreach services and the importance of helping those in need. We then held a Pizza & Quiz evening at Rosemount House Limited with St. Mary's CBGS Belfast Social Justice Advocacy Group. l.r-fi We h8ard powerful and moving personal testimonies from people who havelare experiencing homelessness during our panel discussion for Homelessness Avrdreness Page 9
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Week. The speakers also included MLAS and members of the All Party Group on Homelessness. representatives from Homeless Connect, Belfast City Council. People's Kitchen Belfast and Rosemount House Limited. The session ended with a focus on ways that the students can use their voices to try to impact change around Homelessness. We rounded off the week when participant5 from the NOW Group very kindly made up 'Care & Share. bags with us to help the homeless in Belfast. Each bag contains items of food, clothing, toiletries and a Christmas card. Page 10
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Facllltatlon of other charitable groups From September 2021 December 2022 a wide range of groups, organisations and activities from the community. voluntary and education sectors used the Westcourt Centre facilities. These include.. - The Link Centre (The Belfast Education Authority}- Secondary Pupil Support Service. - The Andersonstown Traditional and Contemporary Music School - 1¢h is a community based music prolect that provides opportunities for everyone to participate in music classes and associaled activities. Belfast Hospital School TOPS Project - working with young people that are suffering from depression and other mental health issues. Suicide Awareness Training - Ascert Drug & Alcohol Support Service National Centre for Suicide Prevention Training (UK) - Edmund Rice Schools Trust Nl - Youth Justice Agency Moming Stsr House (homeless male) hostel Mens Shared Skills Group Rosemount House hostel for men with alcohol addiction Public Health Authority Project Zambia Social and pastoral work The followng are examples of the social and pastor81 work undertaken by individual Brothers: Working as chaplains in schools and prisons. Spiritual direction and retreat work. Counselling. Adult education; Cross Community initiatives The aims of the Trustees in this area include- Enabling the Brothers to carry out meaningful social and pastoral work within the community after assessing their skills and the needs of the local area. Encouraging and motivating the Brothers to reach out to those in need within society Page 11
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT {CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 International missionary work About 30 members of the European Province are working in Africa, India and South America. The Brothers teach in schools and engage in other educational projects. The purpose of these schools and projects is to promote the spiritual. moral. intellectual, cultural and social education of young people and adults who often come from disadvantaged backgrounds. During the year, the Trust contributed over £11,000 to support members of the European Province working in these countries. In previous years, the Trust contributed to the establishment of Edmund Rice Bicentennial Trust. an English registered charity whose purpose is to supporl the mission of the Congregation worldwide but especially in Ihe rnajority (developing) world. The aims of the Trustees in this area are to support the work of the members of the worldwide Congregation where needs arise. Falth Development As a Religious Congregation. faith development is of prime importance to th8 Trustees. All aspects of the Trust's work involve the advancement of religion whether it is in the educational, pastoral or international missionary fields. The Trust continues to assess its work and to search for better ways of carrying out this ministry in tDdaWs world. The work in this area is mainly carried out through the schools and the local parishes where the Brothers reside. As noled earlier, some Brothers provide spiritual direction and retreats. The Trustees. in conjunction wilh the European Province Leadership Team. are developing an Edmund Rice NeOrk of lay people who wish to associate themselves with the spirituality and apostolic mission.of the Brolhers. The Nerk consists of local groups of interested adults gathering for spiritual sharing and reflection and involving themselves in fomis of social OLJtreach. Although the majority of Network partlGipants are drawn from staff and parents in the schools, involvement is open to all who wish in some way, however informally, to connect with the charism of Blessed Edmund Ri. The aim through the Edmund Rice Network is to provide, for all interested adults, opportunities for spiritual conversation and exploration and faith-based social action. Young Adult Leadership Development: The Trustees sponsor young adult leadership development through two projects: Edmund Rice Camps India Immersion Project Edmund Rice C8m Edmund Rice Camps are held in Newry and Omagh, with approx. 120 young leaders and 100 children involved. The children come from disadvantaged backgrounds and benefrt hugely from their interaction with the leaders and fun-filled weeks of activities - art and crafts, drama, sport, music, outings etc. Children receive healthy food during Camp. The leaders undergo extensive training and preparation, are ACCESSNI vetted and undergo Child Safeguarding training. Page 12
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Cam In 2021. only the Omagh camp went ahead In 2022 the camps resumed fully post covid. and were held in Omagh and N8wry. A total of 120 leaders and 110 children were involved, Peace and Reconciliation The Trust actively supports peace and reconciliation activities. In the mainstream education this is evidenced through the various inter-community projects. In the non mainstream education, this is evidenced by the work of the Westcourt Centre a5 Outlined above. Positlve Impact Investing We view our investment portfolio as part of our Mission. Alongside our active Ministries, we also seek to bring about change through our investment portfolios. Some investments can be harmful. for example, investments in fossil fuel companies or armaments companies supports the production of goods that can be highly damaging lo the environment or human wellbeing. Avoiding these types of investments is an important step in ensuring that our investment portfolio is not involved in harmful activities. But it is only the first step along the path of that can be achieved. While avoiding harmful activities is important, we believe that it is also important to use our invesknents to bring about positive change in the worfd. We therefore seek to investment in activities that have beneficial impacts, for both individual wellbeing and for the environment. We assess these positive impacts under a number of headings that we believe are important measures of how our investment5 are positively affecting the world around us. Below are some of the positive impacts achieved by the investment portfolio: co, C02 co, rciiNES 02 Em90Ns RENEVIA8LE ENERGY FOSSIL FUEL RESÈRIES CARBON SINKS CO2 EM15S10NS SAVED Jops CREATED HELP FOR THE GLOBIL POOR TONNES OF CO. AWJIDED SE&TER cbarty'pthyts eWL¢knI.I The Portfolio and the Sustainable Development Goals (SDGS) All of the investments within the Portfolio contribute towards the achievement of the Sust8inable Development Goals (SDGS). The SDGS were developed and adopted by all member states of the United Nations to help achieve more sustainable future for all" They represent a call to action to end poverty, protect the planet and promote prosperity and people's wellbeing by 2030. They integrate and balance the three dimensions of sustainable development: economic, social and environmental. Page 13
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (coKfiNUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Achieving the SDGS on a global basis requires collaboration beiween governments. the private sector. civil society and citizens alike. The Portfolio plays a role in the realisation of the goals. SUSTAINABLE .,GIIALS 10 11 13 17 SUSTAINABLE DEVELOPMEp¥r The Sustainable Development Goals are also closely aligned with the ch8rit8ble objectwes of religious organisations. Since the publication of Laudato Si, Pope Francis has made a strono commitment to sustainable development. His appeal to -every person living on this planet for an inclusive dialogue about how we are shaping the future of our planet.. provides a firm ethical foundation for actions that need to be taken urgently at all levels. Pope Francis, speech ahead of the United Nations General Assemblys fomal adoption of the 17 SDGS gave further support to the ambitious and transfomiational vision of the goals. A comprehensive Ethical and Positive Impact policy ensures the Portrolio remains consistent with our ethos. The Portfolio currently excludes companies involved in the production of weapons, tobacco, alcohol, pornography, and activities such as gambling and embryonic stem cell research. Environmental, Social and Govemance (ESG) criteria complements the screening as it improves the overall ESG risk exposure cf the Portfolio. In particular. climate risk is addressed through the exclusion of fossil fuel companies and a focu5 to reduce the carbon footprint of the Portfolio through investment in such areas as renewable energy and forestry. We outline below some elements of a particularly important area in today's world, that of Environmental Impact, and how the Portfolio addresses the SDGS in Ihis regard. Page 14
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT ICONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 Environmental Impact Overall Carbon Footprint Measurement of carbon emissions is crucial to help us understand the role our investment portfolio plays in the climate crisis, while taking measures to address it. As the SDG logos to the left show, limiting carbon emissions interacts with several SDGS, helping address Climate Action in particular. Climate justice is another aspect addressed in our portfolio, as climate change predominantly impacts those who've done the least to contribute to pollution and have less resources to deal with it. Therefore, control of carbon emissions in our portfolio also has positive implications for reducing poverty (SDG1 }. reducing inequality (SDG10) and preserving life on land (SDG10) and in the ocean (SDG14) 14 The Portfolio includes a number of carbon sink-type investments, which sequester or draw carbon dioxide (C02) from the atmosphere. Forestry in particular is a very effective Garbon sink, as trees absorb carl)on dioxide as part of their growing process. The Portfolio in aggregate will se uester Iwilhdraw) -277 tonnes of C02e from the atmosphere per annum while an unscreened portfolio of the same size would roduce 317 tonnes. We believe that these extremely strong carbon emission statistics makes the Portfolio part of the solution to climate change. rather than part of the problem. Fossil Fuel ReseNes This section addresses the level of exposure to companies owning thermal coal, oil gas reserves and other unconventional sources of reserves such as oil sands, shale oil. and shale gas. Many of these reserves may not be useable'if we are to keep the largeted temperature rise (as a resull of global warming) below 2 degrees Celsius. This risk is referred to as stranded asset risks and it is addressed through avoidance of companies holding fossil fuel reserves, Hence, in addition to the impact. not holding Ihese assets reduces the financial risk within the portfolio. Our Portfolio holds no fossil fuel reserves, as shown in the chart below. Page 15
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT {CONTINUED FOR THE PERIOD ENDED 31 DECEMBER 2022 Fossi l Fuel Reserves(thou5ands of ti)nnes per Élrn i nvested) 1£ Pofd) 0£ C1 01 Chart showing our Portfolio holds no fossll fuel reserves (no blue bar) Renewable Eneryy The benefit of generating renewable power can be measured by how much fossil fuel power {and resulting C02 emissions) it replaces. In 2022, the Portfolio avoided the release of almost 528 tonnes of C02e. This is equivalent Removing 114 cars from the roads every year 1.214 barrels of oil saved 440 acres of pine forest absorbing C02 for one year 58 round trips around the world by one typical passenger car (travelling at the equator). In terms of renewable energy produced. the Portfolio produced 95 Mwh in 2022, enough energy to power 237 homes. Page 16
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 FINANCIAL REVIEW Results for the year A summary of the year's results can be found on page 27 of this report and account5. During the period, total incoming resources amounted to £940.091 (2021: £760,691). Of the incoming resources, a total of £712.472 (2021.. £580,391) related to the pensions of the Brothers, was grft aided to the charity. Other income totalled £6,766 (2021: £273). Resources expended totslled £1,834,722 (2021: £548,745) with 95Q/o (2021: 940/0) being spent on direct charitsble activities. Investment management costs totslled £32,556 (2021.. £9,317). Governance costs totaled £44,539 (2021: £25,965>. Investment losses of £30.040 {2021'. gain of £244.801 resulted in a net deficit for the period of deficit £724,67112021.' surplus £456,747) Investment Poll¢y At 31 Dember 2022, the Trust had investments valued at £3.887,057 (2021.. £4,047,713>. These funds are managed by Setanta Asset Management, Unigestion and State Street Global Advisors. The Trust also has a holding of Alternative Investments. These funds have an ethical investment screen. they exclude companies that contravene certain ethical criteria and in most cases favour stocks that provide positive benefits to the community. These funds are likely to hold investments that are compatible with the charity's religious ethos. In this regard, the investment portfolio is screened according to the following criteria: Damage to the environm8nt Infringement of human rights Manufacture of armaments and supplies to the military Manufacture of anti-life products Irresponsible marketing of breast milk substilutss Stem 11 research Cosmetics testing on animals Gambling Pomography Tobacco The Trustees. with their investment advisors. review the investments on a regular basis. The retum of 2.1 O/t) on the investments was in line with the Trustees, expectations given the diversified nature of the portfolio during the period September 2021 to December 2022. Reservos pollcy At the end of the financial year, the total funds of the charity amounted to £2,834,602 {2021 .' £3.559,273}. Of this, £516,496 {2021: £537.758) is represented by properties and other tangible assets essential for the running of the charity. The Trustees are intending to designate the remaining funds to provide for the future activities. FUTURE PLANS The Trustees do not anticipate any significant change to the activities over the next year. They intend to continue to review its spending plans and needs and to make every effort to manage its 8XlSting assets as efficiently as possible in order to generate the income necessary to achieve the charity's aims. Page 17
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT ICONTINUED) FOR THE PERIOD ENDED 31 DECEMBER 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document In temis of Civil Law, the charily is governed by a Trust Deed dated 1 August 1994 amended, by special resolution dated 21 January 2015. The charity is registered with the UK Revenue Commissioners under charity number XN 46693. The charity is also gIStered with The Charity Commission for Northem Ireland under charity number NIC102236. In terms of Canon Law. the Congregation is govemed at an inlernattonal level by the Congregation Leader and the Congregation Leadership Team in Rome. They are elected every six years at a Congregation Chapter. The European Province is governed by the Province Leader and the Province Leadership Team, who ar8 nominated by members of the European Province. Recruitmenl and Training of Trustees In 8ccordance with the Trust Deed. there shall be a minimum of four and a maximum of eight Trustees. The ststutory power of appointment and removal of a Trustee is vested in the Proirincial L8ader of the European Province. Trustees are chosen for their personal qualities and their understanding and experience of the ministries of the members. To date, the Trustees have been members of the European Province and as such they will already be well infomied about the Mission, governing documents and strategic planning and history of the charity. Organisational Structure The Trustees are ultimately responsible for the policies, activities and assets of the charity. They meet on a regular basis to review developments with the regard to Ihe Charity and its activities. When necessary, they seek advice from the charity's professional advisors. The day to day running of the Westcourt Centre is delegated to a sub-committee. The Trustees receive regular reports from the sub-committee. Page 18
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND TRUSTEES. REPORT (CONTINUED) FOR THE PERIOD ENDED 31 DECEMBER2022 Rlsk Management The Trustees undertake a full risk 8ssessment on an annual basis and monitor progress on a half-yearty basis. Thi8 process is supported by the Flnance Office, who works dosely with the Trustees in this area. The Trustees idenlified the following as being the prlncipal risks to which the Charlty Is exposed.. Govemance and management.. considers the efficiency of the Trustee body. Risks considered include a lack of plannlng, 8 Trustee body which lacked sufficient skills or appropriate decision making procedures, Such risks could include a lack of training l induction or poor stewardship of reSoUrS hLJman, fin8ncial and property. The Trustees have addressed these risks by operating both annual 8nd longer term plans, holding regu18r Trustee meetings lch inGlude th8 monitoring of actual perfomianc8 against Ihese plans, having meaningful induclion I handover for incoming Tmstees, attending Trustee traSning day5. seekin9 third party advice as required, etc. Financial,. collsiders the financial capacity of the Charty and ensurfng It has the available financial resources lo contlnue to carry out its activitles both now and In the years ahead, This incorporates the management of the operating (day-to4ayl position, capital or building requirementB and the returns earned on the Charity's investment portfoli05. Th@S8 rfsk5 are mitigated in a variety ol ways, includlng budg8ting, the Setting of an inveslment str8tegy J investment objecliv8S that consider dlversity, prudèn¢e and liquidity criterfa, ragular financial and investmenl reporting againsl budget, cash-flow planning, the appolntmant of Stewardship 8dwsors where nece55ary. Age Profile: considers the aging population of the Brothers of the Congregation of Christian Brothers in Northern Ireland which Is supported by the Charity. This incorporates the review of the training, skillsets and energy of the Brothers in a leadership. Minlslry or Mission role. The risks are mitigated rOUgh training, Trustee visitstion to each Community, regular Trust meelings, heallhcare revlews and rotating Brothers in different roles and the sharing of knowledge. The Trustpes invest time, energy and allocale resources ID ensure the continuing of Ihe Charty both now and into the future. This can also include the involvement of18y people lo support the Brothers and Ihe involvement of professional adiusors in relation tD Stewardship advice to the Trustees. Slgned on behalf of thè Trustees.. BrD Trustee on Date: &clf bw 20Z3 Page19
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAMD STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE PERIOD ENDED 31 DECEMBER 2022 The Trustees of the Charity are responsible for preparing the Truste8s' R8POrt and the financial statement5 in accordan with applicable law and Unit8d Kingd¢Jn Accounting Slandards (United Kingdom Generally Accepted Accounting Practice). The Trustees are required to prepare financial Statements for each financial year. The Trustees musl not approve the financial statéments unless they are satisfied that they give a true and falr vlew of the state of affairs of the Charity and of its incoming resources and application of resources. including ils income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo., select suitable accounling poli¢ie$ and then apply them consistently, obseNe the methods and principles of the Charit18s SORP {FRS 102>., make judgements end accounting estimates that are reasonable and prudent., Stale whether applicable UK A¢counling Standards (FRS 102) have been followed, subject to any mafierlal departures disclosed and explalned in the financial statements. prepare the financial statements on th8 going concern basis unless it is inappropriat6 to presume that the Charlly will continue in operation. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with r6asonable accurdcy at any lime the financial position of the Charity and enable them to ensure that the financial statements comply with lh8 Charities Act (Northern Ireland) 2022 and Charities (Accounts and Reports) Regulations {Northern Ireland) 2015. They are al$0 responsible for safegutsrding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on ils behalf by,. BrDGi Trustee Brc Date.. 94e6e4 2 OL3 Page 20
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND Opinion We have audited the financial statements of Congregation of Christian Brothers in Northarn Ireland (the 'chariV) for the period ended 31 December 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. including a summary of significant accounting policies. 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 applying that framework the trustees have elected to have regard to the Statement of Recommended Practice applicable to Charities (SORP). In our opinion the financial statements: give a true and fair view of the charty's assets, liabilities and financial position as at 31 December 2022 and of its incoming resources and application of resources. including its income and expenditure for the period then ended., have been properly prepared in accordance with Financial Reporting Standard 102 The Financial Reporting Standard applicable in the Republic of Ireland, as applied wilh regard to Charities SORP. and have been prepared in accordance with the Charities Act (Northern Ireland) 2008. Basls for opinion We conducted our audr( in accordance wrth International Standards on Auditing (UK) (ISAS (UK}) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities foi the audit of the financial statements section of our report. We are independent of the charitable trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Elhical Standard, and we have fuSfilled our other ethical responsibiliiies 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 golng ¢one•rn In auditing the financial statemenls, 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 worf( we have performed, we have not identified any material uncertainties relating to events or conditions that, individualty or collectively, may cast significant doubt on the charitable trust'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 relevarrt sections of this report. Page 21
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND {CONTINUED) Other informatlon The Trustees are responsible for the other information. The other information comprises the information included in the Trustees Report and Financial Statements, other than the financial statements and our Auditorfs Report thereon. Our opinion on the financial statements does not cover the other infomiation and, except to the exlent otheNiise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection wilh out audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or other¥vise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, V are required to delermine whether this is a material misstatement in the financial ststements or a material misstatement of the other infomiation. If, based on the work we have performed, we conclude thal there is a material misstatement of thi5 Other infomiation, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters presclbed by the Generally Accepted Accountlng Practices In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, Report for the financial period for which the financial statements are prepared is consistent with the financial statements. the Trustees, Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exptIOn In the light of our knowledge and understanding of the charitable trust and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which the Charities Act (Northem Ireland) 2008 and Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audrt have not been received from branches not visited by us; or the financial statements are not in agreement with the a¢¢ounting records and returns. or certain disclosures of Trustees, remuneration specified by law are not made., or we have not received all the infomiation and explanations we require for our audit. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemptions in preparing the Trustees Report and from the requirement to prepare a Strategic Report Page 22
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND (CONTINUED) Respective Responslbllltigs Responsibilities of tSteeS As explained more fully in the Trustees, Responsibilities Statement, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal Gontrol as the Trustees detemine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitsble trust's abilty to continue as a going Concern, disGlosing, as applicable. matters related to going concern and using the going concern basis of accounling unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 23
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND (CONTINUED) Audftor's responsibilitias for the audlt of the financial statements 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 il 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: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that 1$ sufficient and appropriate to provide the basis for our opinion. In entifyIng and assessing risks of material misstatement in respect to irregularities, including fraud and noncompliance with laws and regulations. we considered the following.. the nature of the industry and sector, control environment and business performance,. the Charitls own a$sessment of the risks that irregularities may occur either as a result of fraud or error., results of our enquires of management and other key persons about their own identification and assessment of the risks of irregularities., any matters we identified having obtained and reviewed the Charity's documentation of their policies and procedures relating to.. identifying, evaluating and complying with w$ and regulations and whether they were aware of any instances of non-compliance,. and detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud,. and the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations., the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As s result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the ar8as in which management is required to exercise significant judgement. In common with all audits under ISAS (UK) we are also required to perfomi specific procedures to respond to the risk of management override. We also oblained an understanding of the legal and regulatory framework that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity's ability to operate or to avoid a material penaty. These included the competition and anti-bribery laws, data protection. employment, environmental and health and safety regulations. Page 24
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND {CONTINUEDI Audit Responso to Risks Identlfled As a result of performing the above we identifd several potential risks of fraud. Our procedures to respond to risks identified included the following- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements: enquiring of management and external legal counsel concerning actual and potential litigation and claims; perfomiing analytical and substantive procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud: reading minutes of meetings of those charged wilh governance; addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments, assessing whether the judgements made in making accounting estimates are indicative of potential bias, and evaluating the business rationale of any significant transactions that are unusual or outside the norm81 course of business. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members who remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit. As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain professiona scepticism throughout the 8udit. We also.. Identfy and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and oblain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the effectiveness of the Charills intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. Conclude on the appropriateness of the directors, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Charity's abilrty to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditors, Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our Auditors, Report. However, future events or conditions may cause the Charity to cease to continue as a going Concern. Evaluate the overall presentation. structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transaction5 and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in intemal control that we identify during our audit. Page 25
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND (CONTINUED) The purpose of th• audit work and to whom we owe our responsibilities This report is made solely to the Charity's trustees. as a body, in accordance with the Charities Act {Northem Ireland} 2008. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required lo stale lo them in an Auditor's Report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charilable company and ts members, as a body, for our audit work, for this report. or for the opinions we have formed. Ronan KÉlbane Statutory auditor for and on behalf of RBK Business Advisers Tennini 3 Arkle Road Chartered Accountants and Statutory Audit Fimi 3 Arkle Road Sandyford Dublin Ireland Date: Zo23 , Page 26
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD ENDED 31 DECEMBER 2022 Total funds Unrestrlcted Total lor the 12 funds funds months ended 31 December 31 De¢ember 31 August 2022 2022 2021 (16 months) (16 months) (12 months) Note Income from: Charitable activities Social Investments Investments Other income 712,472 97,413 123.440 6,766 712,472 97,413 123.440 6,766 580,391 85,019 95.008 273 Total income 940,091 940,091 760,691 Exp•nditure on: Raising funds Charitable activities Govemance 32,556 1,557,627 44,539 32.556 1,557,627 44,539 9,317 513,463 25,965 Totsl expenditure 1,634,722 1,634,722 548, 745 Net movement in funds before other recognised gainsl{los$es) (694,631 } 1694,631) 211,946 Other recognised {losses)Igains: Unrealised {losses)Igains on investment assets 12 (30.040) (30,040) 244, 801 Net movement in funds 1724.671) (724,671) 456, 747 Reconciliation of funds: Total funds brought forward Net movement in funds (see above) 15 3,559,273 1724,671) 3,559,273 {724,671) 3, 102,526 456, 747 Total funds carried forward 15 2,834,602 2,834,602 3.559,273 The Statement of Financial Activities includes all gains and losses recognised in the period. Page 27
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND BALANCE SHEET AS AT 31 DECEMBER 2022 31 D&c8mb8r 2022 31 Augusl 2021 Note Fixed assets Tangible assets Investments 11 12 616,496 3,8B7,057 537, 758 4.047,713 4,403,553 4,585,471 Current assets D8blor8 Cash at bank and in hand 13 19 39,383 1,316,278 13,617 1,114, 749 1.354,661 1, 128.366 Credit¢rs'. amounls falling due withln one year 14 12,923,612) (2,154,564) Net current Ilabllltles (1,568,961) (1,026, 198) Total net assets 2034,602 3,559,273 Charlty funds Unreslricled funds 15 2,834,602 3,559, 273 Total funds 2,834,602 3, 559, 273 The financisl statement8 were approved and authorised for issue by the Trustees and signed on their behalf by.. Br Gib Trustee Br Date.. 2g LOgbeJ4 2 013 Page 28
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 31 DECEMBER 2022 2022 2021 Note Cash flows from operating activities Net cash provided by operating activities 18 69,913 102, 183 Cash flows from investing actlvltles Net movement in investment5 Unrealised (losses)Igains on investment activities 160,656 <30,040) (230,419) 244,801 12 Net cash provlded by Invosting activities 130,616 14,382 Change In cash and cash equivalents in the perfodlyear Cash and cash equivalents at the beginning of the periodlyear 200.529 116,565 19 1,114,749 998, 184 Cash and cash equlvalents at the end of the periodlyear 19 1,315,278 1, 114, 749 The notes on pages 30 to 44 form part of these financial ststements Page 29
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accounting policies 1.1 Basls of preparation of financial stalements The financial statements have been prepared in accordance with Ihe Charities SORP IFRS 102} Accounting and Reporting by Charrties: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008 and Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Congregation of Christian Brothers in Northern Ireland meets the definition of a public benefrt entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 1.2 Income from charitable act5vltles Income from charitable activities arises on a weeklylmonthly basis from pensions. All such income is credited to the income and expenditure account only when received. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recogni5ed in the period in which it is receivable and to the 8xt8nt the goods have been provided or on completion of the service. 1.3 Income from donations and legacles These are included in the financial ststements of the Charity when the entitlement of the income has been notified to the Trustees and there is a certainty of receipt. 1.4 Income from social Investments Investment income, realised and unrealised, is accounted for in the year in which the Charity is entitled to receive it and is reflected in the Statement of Financial Activities. 1.5 Investment Income The investment income included in incoming resources in the Statement of Financial Aclivities is comprised of dividends reiVed directly by the Charity together with all bank interest to which the Charity is entitled in the year. 1.6 Investment managed fund Investments are shown at market value at the balance sheet date. Market value comprises the capital Cost together with realised gains invested. net cash inflowsloutflows and unrealised gains and losses. 1.7 Foreign exchange All foreign cUencY assets and liabilities at the balance sheet date have been converted to Sterling 8t the rates ruling at the balance sheet date. Unrealised exchange differences resulting from restating assets and liabilities at the balance sheet date are taken directly to reseNes. All other exchange differences are taken to the income and expenditure account. Page 30
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accounting pollcles (continued) 1.8 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt 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 is classified by adivity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared cost5 which contribute to more than one activity and support costs which are not attributable to a single activty are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes Costs of all fundraising activities events and non-charitable trading. Expenditure on charf(able activities is incurred on directly undertaking the activities which further the Charitys objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. 1.9 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cosL All fixed assets held for the beneficial use of the Charity have been capitalised and are included in the financial statements. These assets are included at original cost where it eAn be determined or 8t a reasonable notion81 cost. Such notional cost has been determined by taking the historic consumer price indices produced by the Central Statistics Office and applying those to the insurance valuations of the properties concerned. Such property is not held for investment purposes and is carried in the assets of the Charity al cost. The figure for cost. or notional cost where utilised does not take account of the separate value of the underlying land of any property. The original cost of the land would not be material to the amounts stated for fixed assets. The land owned by the Charity has been included at a nominal value of £1.000 per acre. This includes two playing fields retained by the Charity which have been let on short term licences to the Edmund Rice Schools Trust (Northem Ireland). Consequently the balance sheet does not reflect the full value of the freehold land and buildings of the charity and the charge to the Statement of Financial Activities for depreciation excludes such Charges which might be applicable to the full value of the assets. Page 31
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accounting pollcles (continued) 1.9 Tangible fixed assets and depreciation (continued) Depreciation is charged so as to allocale the cost of tsngible fixed assets less their residual value over their estimated useful lives, using the straight-line method. Depreciation is provided on the following basis: Freehold property Motor vehicles Fixtures and ffftings Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities. 1.10 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.11 Cash at bank and In hand Cash at bank and in hand includes cash and short-temi highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 1.12 Creditors Creditors are Classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Creditors are recognised initially at the transaction Pri and subsequently measured at amortised cost using the effective interest method. 1.13 Contingent assets Contingent liabilities, arising as a result of past events, are not recognised when (i) it is not probable that there will be an ouffiow of resources or that the amount cannot be reliably measured at the reporting date or (li) when the existence will be confirmed by the occurrence or non-o¢currence of uncertain future events not wholly within the compan$ control. Contingent liabilities are disclosed in the financial statements unless the probability of an oufflow of resources is remote. Contingent assets are not recognised. Contingent assets are disclosed in the fin8ncial statements when an inflow of economic benefrts is probable. Page 32
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accountlng policies (continued) 1.14 Llabilities and provlslons Liabilities 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 benefft will be required in settlemenl, and Ihe amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced panentS for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liabilty. The unwinding of the discount is recognised in the Ststement of Financial Activities as a finance cost. 1.15 Fund accountlng Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. Investment ineome, gains and losses are allocated to the appropriate fund. 1.16 Taxation Arising from it's charitable Status, there is no liability to Corporation Tax on the company. 1.17 Reserves The reserves consist of unrestricted funds. General reserve8 are unrestricted funds which are available for use at the discretion of the trustees. A significant portion of the unrestricted funds are designated to provide for various adivities in furtherance of the general objectives of the Charity. Page 33
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Accounting policies {contlnued) 1.18 Critical judgements and estimates The estimates, and assumptions in determining the carrying amount of assets and liabilities. The trustees, judgements, estimates and assumptions are based on the besl and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered lo be applicab. Due to the inherent subjectivty involved in making such judgements, estimates and assumptions, the outcomes may differ. Usoful economlc lives ot tangible fixed assets The charity depreciates tangible assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic perfomiance as well as expectations over future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors. including technological innovation snd mainlenance programmes. Falr value of fixed asset 5nvestments The fixed asset investments are carried at fair value which has been detemiined based on independent professional valuation caThied out al year end by investment management companies holding those investments. Accruals - Iltigation costs The charitsble trust has accruals recorded in the balance sheet at the year end in relation to litigation costs for the ongoing legal court cases. Estimates of these accruals are based on an assessment made by the trust's legal advisors in relation to the liability based on current litigation and an established pattern of settlement agreements. Pag8 34
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Income from charitable activities Unrestricted funds 2022 16 months Total funds 2022 16 months Total funds 2021 12 months Teachers pensions Old age pensions 547,120 165,352 547.120 165.352 445,288 135, 103 Total 2022 712,472 712.472 580,391 Income from soclal Invostm•nts Unrestricted funds 2022 16 months Total tunds 2022 16 months Total fvnds 2021 12 months Rental income (Westcourt> Rental income {other) 97,413 97,413 84,719 300 Total 2022 97,413 97,413 85.019 Income from investments Unrestricted funds 2022 16 months Total funds 2022 16 months Total funds 2021 12 months Investment income 123,440 123,440 95, 008 Total 2022 123,440 123,440 95.008 Page 35
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Other income Unrestricted funds 2022 16 months Total funds 2022 16 months Tolal funds 2021 12 months Other income Donations received 6,616 150 6.616 150 273 Total 2022 6,766 6.766 273 Expenditure on ralslng funds Unrestricted Total funds funds 2022 2022 16 months 16 months Total funds 2021 12 months Investment management and advisory fees 32,556 32,556 9,317 Total 2022 32,556 32.S56 9,317 Exponditure on charitable activities Unreslrlctod funds 2022 16 months Total funds 2022 16 months Total funds 2021 12 months Property costs and depreciation Support of members and their mission Costs incurred l {reversed) associated with former students International missionary support Former mainstream education Non mainstream education 21,714 472,646 738,774 16,697 158,000 149,796 21.714 472.646 738.774 16,697 158,000 149,796 37,952 419, 163 (198, 136) 11,760 118,000 124, 724 Total 2022 1,557,627 1,557.627 513,463 Page 36
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Expenditure on governance Unrestrfcted funds 2022 16 months Total funds 2022 16 months Total funds 2021 q2 months Professional and financial management fees Stewardship advisory fees Audit fees 21,876 13,333 9,330 21,876 13.333 9,330 4,583 14,500 6, 882 Total 2022 44,539 44.539 25, 965 Staff costs for the year ended 31 December 2022 31 August 2021 Wages and salaries Social security costs Contribution to defined contribution pension schemes 109,513 9,188 4.546 86, 702 7,543 3.633 123,247 97,878 The average number of persons employed by the Charity during the period was as follows: 2022 16 months 2021 12 months No. Employees During the year ended 31 December 2022, no Employees received remuneration exedIng £60,000. 10. Key management personnel The key management p8rsonnel of Christian Brothers in Northem Ireland includes the Board of Trustees and Head of Finance. The compensation paid to key management personnel for employee services was £0 (2021.. £0). Page 37
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 11. Tangible fixed assets Freehold property Motor Flxtures and vehlcles fittings Total Cost or valuation At 1 September 2021 720,545 15,775 261,045 997.365 At 31 December 2022 720,$46 15,775 261,045 997,365 Depreciation At 1 September 2021 Charge for the period 185.042 19.215 13.520 2.047 261,045 459.607 21.262 At 31 December 2022 204,267 15,567 261,045 480,869 Net book value At 31 December 2022 516,288 208 516,496 At 31 August 2021 535, 503 2,255 537, 758 12. Fixed asset Investments 2022 2021 Llsted investments at market value: At 1 September Investment income Unrealised (losses)Igains on investments Cash (withdrawn) l introduced 4.047,713 3,817,294 123,440 95, 008 (30,040) 244, 801 1254,056) (109,390) At 31 December 3.887,057 4,047,713 Page 38
CONGREGATION OF GHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 13. Debtors 2022 2021 Due withln one year Prepayments and accrued income 39,383 13,617 39,383 13,617 14. Creditors: Amount falling due wlthln one year 2022 2021 Trade creditors Christian Brothers European Province English Province of the Congregation of Christian Brother8 Accruals 2,304 331,585 6A07 2,583.316 283, 587 16,960 1,854,017 2,923,612 2, 154,564 Page 39
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 15. Statement of funds Statement of funds - current period Balance at 31 Gainsl December (Losses) 2022 Balance at I September 2021 Income Expendtture Unrestrlcted funds Fixed asset fund Former mainstream education Non mainstream education International mission fund Support of members General charitable activities fund 537.761 353.492 388,630 193,025 844,405 121,265) (158,000) 1149.796 116.697 1472.646 616.496 236,639 279,981 217,475 727,995 41,147 41,147 41,147 356,236 1,241,960 460,414 (816,318) (30,040 856.016 3,659,273 940,091 (1,634,722) {30.¢MOI 2,834,602 Statement of funds - prlor perlod Balance at I Septembei 2020 Balancg at 31 August 2021 Gains/ (Losses) Income Expenditure Unrestricted funds Fixed asset fund Former mainstream education Non mainstream education Intemational mission fund Support of members General charrtable activities fund 572,982 439,823 481,685 173,116 973,371 (35, 221) (178,000) (124. 724) (11, 760) (419, 162) 537,761 353,492 388,630 193,025 844,405 31,669 31,669 31,669 290, 196 461, 549 375,488 160, 122 244,801 1,241,960 3, 102,526 760, 691 (548, 745) 244,801 3,559.273 Page 40
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 16. Summary of funds Summary of fund$ - current period BaEance at 31 Gainsl December {Losses) 2022 Balance at 1 September 2021 Income Expenditure General funds 3,659.273 940.091 <1.634,722) 130.040) 2.834,602 Summary of funds- prior period Balance at l January 2Q21 Balance at 31 Augusl 2021 Gains/ (Losses) Income Expendilure General funds 3, 102,526 760, 691 (548, 745) 244,801 3,559,273 17. Analysis of net assets between funds Analysis of net assets between funds - Current perfod Unrestricted funds 31 December 2022 Total funds 31 December 2022 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 516,496 516,496 3,887,057 3.887,057 1,354.661 1.354,661 (2,923.612) (2,923,612) Total 2,834,602 2,834,602 Page41
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 17. Analysls of net assets between funds lcontinuedl Analysis of not assets between funds - prior period Unrestricted funds 31 August 2021 Total funds 31 August 2021 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 537, 758 537, 758 4,047, 713 4,047, 713 1. 128.366 1, 128,366 (2, 754,564) (2. 154,564) Total 3,559,273 3,559, 273 18. R•conclllatlon of net mov•ment In funds lo net cash flow from operating actlvltles 2022 2021 Net {expenditure)lincome for the period before other recognised gains and losses (as per Statement of Financial Activities) (694.6311 211,946 Adjustments for: Depreciation Charges {Increase)Idecrease in debtors Increasel(decrease) in creditors 21,262 125,7661 769,048 35,223 11,782 (156, 768) Net cash provlded by oporatlng actlvltles 69,913 q02, 183 19. Analysis of cash and cash equivalents 2022 2021 Cash at bank and in hand 1,315,278 1, 114. 749 Total cash and cash equivalents 1,315,278 1, 114. 749 Page 42
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 20. Analysis of changes in net debt At1 September 2021 Cash flows At31 December 2022 Cash at bank and in hand 1,114,749 200,529 1.315.278 1,114,749 200,529 1,315.278 21. Contingencies A number of legal actions have been initiated against the Charity. The Trustees have appointed solicitors and barristers to act on their behalf in defending these actions. Due to the nature of the actions. the lengthy passage of time since the alleged offences occurred, and the significant legal and pradi¢al difficulties in resolving these cases, the determination of the final liabilities is uncertain. The accruals provided are based on current litigation and an established pattern of settlement agreements. As the litigation and negotiations progress, it is possible that the ultimate liability may be different from the amount of the accruals currently recorded. Since the year end, 10 new cases have been notified and in accordance with the accounting policies, provision is only made in the year of notification of such claims. 22. Commitments A commitment exists to provide funding of £118,000 (2021: É118,000} the next year to Edmund Rice Schools Trust (Northern Ireland) to meet the costs of that body. 23. Related party transactions The Trustees all give freely of their time and expertise without any fom) of remuneration or other benefit in cash or kind. The Charity shares two common trustees with Congregation of Christian Brothers, European Province - Republic of Ireland ICBEP). During the year CBEP recharged £331,585 {2021.' É246,999) in respect of costs incurred on behalf of the Cangregation of Christian Brothers in Northern Ireland. At the financial year end, the Charity owed £331,585 (2021: £283.587) to the Congregation of Christian Brothers. European Province- Republic of Ireland. The Charity shares one common trustee with the Congregation of Christian Brothers Trustees (English Province), (CCBT). During the year CCBT recharged £11,509 (2021: É8,506) in respect of costs incurred on behalf of the Congregation of Christian Brothers in Northern Ireland. At the financial year end, the Charity owed £6,407 (2021.. £16,960) to the Congregation of Christian Brothers Trustees (English Province). Page 43
CONGREGATION OF CHRISTIAN BROTHERS IN NORTHERN IRELAND NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022 Custodian trustee holdings The trustees held an amount of £74,352 (2021: £75,852) in a bank account as a custodian for a member of the congregation. The account is held securely and separately from those of the trustees who are responsible for safe custody of the funds. These funds are not therefore included in the balance sheet of Congregation of Christian Brothers in Northern Ireland at the year end <2021.. £Nil). 25. Post balance sheet events Apart from those disclosed, there have been no significant events affecting the charitable trust since the period end that require disclosure in the financial statements. 26. Approval of flnanclal statements The accounts were approved by the Trustees on z g &cl-96 ei( 3 0 Page 44