THE PAROCHIAL SCHOOLS OF THE DIOCESE OF CLOGHER TRUSTEES, REI PORT (continued) FOR THE YEI AR ENDED 31 MARCH 2024 far as tlie end0mentS admit. education and religious education of pupils belonging to Ilie said church. The Charity carries out its purpose through reoular Board nieetings which oversee the allocation of dividends arising froiii endownieiits and also by fulfillinu tlie trustccsliip of endowiiieiit propelty. Financial revieiv The Charity is reliant on doiiations and contributions from its sponsors which for the year ended 31 March 2024 amounted to £15,175 (202J £lJ,J86). The Trustees consider that the iinrestricted funds of the Cliarity will enable thein to have sufficient resources and assets at their disposal to be in a position to adequately fulfil their obligations. The Chariiy held £lJ,81? Cash Reserves at the year end (202) £li,495). Reserves policy Tlie incoine of the Charity is considered stable and the risks associated with any significant reduction Én income is reiyarded as unlikely. The Trustees are satisfied tliat a fi(Jure equatiniT to approximately twelve monlhs expenditiire És an appropriate level of reserve balance at the present tinie. Plans for the future Future developmcnts The Charity intends to continue the work it perlorins for the benefit of inembers and tlie public iii accordance with tlie tenns of its constitution. Trustees, responsibilities statement Tlie Trustees al'e responsible foi. preparin the Trustees, report and the financial statements in accordance with applicable law and United Kingdoin Accountiiig Standards (United Kingdoni Generally Accepted Accounting Practice). Charities legislation requiies the Trustees to piepare financial statements foi each financial year. Uiider Charities legislation tlie Trustees niust iiot appi'ove the financial statemenls uiiless they are satisfied tliat they give a true and fair view of the state of affairs of tlie Charity and of tlie incoming resources and application of resources. including thc receipts and pa)rnieiits, of the Cliarity for that yeai. In preparino these finaiicial statements, the Trustees are requiied to: select suitable accounling policies and tlien apply tliein coiisistently. observe the inetliods and priiiciples iii the Chaiilies SOIIP. make judgiiients and accounlino eslimates that are reasonable and prudent" prepare tlie financial stateineiits on tlie goiiig coiicern basis uiiless it is inappropriale to presuiTLe tliat tlie Cliarity will continue iii operalion.
TIIE PAROCHIAL SCHOOLS OF THE DIOCE4 SEI OF CLOGHER TRUSTEEI S, REPORT (continucd) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees are responsible for kecping adequate accounting records that are sufficient to show and explain the Charity's transaclions alid disclose witli i-easonable acciiracy at aiiy tiine the financial position of the Charity and enable thein to ensuie tliat the fiiiaiicial statenieiits coiiiply witli the Cliarities leiTislalion. They are also responsible for safeguardino the assets of tlie Charity and hence for taking reasoiiable sleps for the prevention and detection of fraud and other irre(Fularities. This report was approved by the Trustees on 8 July 2024. And sigiied OLI their belialf by: Rt Rev Dr Ian Ellis Cliairnian