St Joseph's College School Fund Charity No. SC 012359 Report and Finaiicial Statements To 31st July 2022 Jose Contents Page Legal and administrative infomiation Report ofthe t￿￿te¢S Rq￿rt of the ReportÉng Accountants Stat¢fftent of financial activities Bal8n¢e sheet Notes forming part of the financial statements Detail￿ Incom¢ & Expenditur¢ Account Legal aDd Administratlve Information Trustees Mrs E. Bernadette JonEs Mr R. Andrew Johnstone Ms A5tfd Belille Sharp Reportlng Aecountants Farrie5, Kirk and Mcvean Chartered Accountants Dumfries Enterprise Park Heaihhall Dumfries DGI 3SJ Banker5 Bank of Scotland plc 91 Higli Street Dumfrie5 DGI IEN Page I Fund Report of th¢ Trnstees for the Ye9r Ended 31stJwly 2022 The tnjsitts present their rep)rt with thc financial stat¢rn¢nts ofthe charity for the period ended 3 1st July 2018. The trust¢es have adopted the prov5ions ofAccowiting and R¢porting by Charities.. Statcmcnt of Recommended Pta¢ti¢¢ applicable to chariii¢S prepariiig their accounts in accordan¢" witli die Financial Rporting Standards ftsr Snialler Entities (the FRSSEI (effective l January 20151 Thc ttU5t l5 an unincorporaied association, recognised as a ¢harity in S¢otland ty UbCK, number SC012359. Objettlves of thÈ Trust To support the various legitimate activities and aspirations of tile pupils of St Joseph's College &8 a8reed by the Finance Group of the schi>ol Review of activities and future developments The Siatement of Financi31 Activitie5 for the year is set oiit on pa8e 4 of the financial statements. Reserve5 And Risk MallAgement The present level of fvi)ding is adequate to support the continuation of the tharitableactivitie5 to the Same levels and the trustee5 consider the financial position of tl)c cliarity to be satisfatlory. The trustees actively review the niajor risks whidi tlie Trust faces on a iegular basL5 ai)d believe tl)2t niainiaining reserves at cU￿¢￿t leve15 will provide sufficient resources in die event of adverse conditions. Responsffibllltles of Ille TTUStees Cliarity law requires ilie irusiees to prepare fiiiancial 5taternents for each financial year which give a true and faiT view of the of affairs of the chariry and of the surplus or deficit of the charTty for that period. In preparing th05¢ financial statements. the trustees are required to selcct suitable ac£ounting ¥x)licies and th¢ii apply tlieni consi5tently' n1akc judgwnents and es¢iniaies tliai are reasonabl¢ and prudent. prepare tlie fjnancial s(atetnentS OD ihe going concern basis unless it is inappropria* to presume that the cl)arity will contiiiue iti busin¢s5. The trust¢es have overall r¢spDllSLbility for cnsuring chat the charity lias appropriat¢ 5y5tem of conirols. fjnanctal or othenvi5e. They sr¢ a150 responsible for kccping proper atcounLing records which di5c105e with rcasoiiablc accuiacy at aiiy timr Jic finaiicial position of Ilie ¢liarity and eiiable ihetn lo ensure Iliai the financial Statements comply witl) all relevant Icgislation. They are also reswnsible for safeguarding the assets of the charity and hen¢e for taking reasonable si¢ps for the prevention and det￿10￿ of fiaud and other I￿e¥￿Iar]Iie$. R¢porting Actouthtonts A resolu¢ion proposing that Me55r5 Farrics, Kirk wid Mcvcan. Chartcrcd Accountants, Ic-apwintcd as )111 ILTr IIiL Iliinual Gcneral Meeting. Page 2 Attountxnts R¢port To the tru5teu of St Joseph's College School Fund Rc5pcctive rt5pon5ibilitie5 of trustees exa7￿[ner Th¢ Charity's Iru5t¢es are responsible for the preparation of Ihc accounts in acCOrdan￿e with the terms of tht Charitie5 and TnLStee lttvestrnent (Scotlandl 2005 Aci and the CharÉties Accounts Is￿0t1and} Regulations 2006. The charity5 trustees consider that th¢ audit T¢quirement ot"Regulation 1011 I Idl of t.ie Accounts Regulations d(Ks not apply. It is my responsibility to examine ￿)e accounts as requir¢d under section 4411 I Ic) of the Act and to stat¢ whether particular matters hav¢ ¢om¢ to rny att¢rrtion. B4515 of independent exAmlrh¢r S 5t8teThent My c%￿T)Ination is carried out in accordance with Regulation I l of thr Charities A¢wunlS (Scotlandl Regulations 2[￿6. An exatnination includes a review of the accounting rewrds k¢pi by th¢ ¢haritr and # ¢omparison of th¢ accou￿15 preseiited wtli thos¢ tecords. It also include5 consideration of any unusual items or disclosures in the accounts and seeks explattatioiis from th¢ tNstees conceming any sucli matter5. The procedures undertaken do not provide 211 evidence Chat would be required in an audit and. consequentjy. I do not expres5 an audit opirtiots die accounts. Independent exAmintr $ staternent In the course of niy examination, iio Jnatter lias come lo n?y attention. l. which gives me reasonable callse to believe that in any rnaterial respect the requirements lo keep a¢cDUllting records in accordaii¢e Thrith se¢tion 44(1 I lal of tlie 2005 Act and Regulation 4 of tl 2006 Ac¢ounts Regulatiolls, and to prepare accounts which accord wÉth the accounting records 2nd ¢omply with Regiil•iion 9 of the 2006 Accounting Regulations have not been meL or 2. to wi)i¢h, in my opinion. attention sliould be drawn in order to enable a proper understanding of ihe accounts to be rcached. FarFi¢5, Kirk aiid Mcvean Chwtcrrd AccoiintanLs Dumfries Enterprise Park Heaihliall Dumfrie5 DGI 3SJ Dat¢ Pa8e 3 Statement of FinanciAI ActÉvities for the yegr ended 31st July 2022 Note5 2Q22 2021 Incoming resources Activities in furtherance of the charity'5 object5 FundTai5ing Income Other Contributions for School Activities Activities for generatin8 fund5 Invtstmetyt iiicoii)e 3240 24,154 2,229 72,096 30 TotAJ incoming resources 27,424 74,330 Resource5 expended Charltable expenditure: Costs of artlVLti¢s in fllrtherance of the chaTity'S objects- Contributions to Scliool Activities Donations Made Mise¢l]aneoi￿ Expenses 35.975 78.697 970 865 2,073 TotAI resoyrc# expended 36,841 81,740 P4et movement in fund$ -9,417 -7,410 Fund balances brought fotivard at I st July 2021 £70,052 £77,462 Fund balanc¢s ¢arried forward at 31st July 2022 £60.635 £70,052 Contlnuing operatTOIIS None of the cliarity's activities were acquired or discontinued during the current or previous years TotAI retognised gain5 and losses The charity has no re¢ogni5ed gains or losses other than those included above. Page 4 BAIAnc¢ Sheet 9$ A¢ 31$t July 2022 P4oÉe5 2022 2021 Current A$$et8 Cash at Bank Stock on Hand 60.635 70,U52 60fi35 ?0.052 Net ¢vrTent a55et5 60035 70,052 Net assets £60fi35 £70.052 Fumds.. Unrestri¢ied fulld5 £60,635 £70,052 The financial stai¢ni¢tLts on pages 4 to 7 were approved by the board on 25 Date J /)/ Date Pa8e 5 Notes (ormlng part of the fLnancial stxttments for the y¢gr tnded 31st July 2020 B8$i$ of Prnparation The financsal slalenients have b¢¢tt prcpared under th¢ hisioFIC COSt convention, with the exception that investments are included al Inarkel value. The finan¢¢al siaietnenls have been PTepared in accordaiice willi the StaleTllenl or Rccnmrnended Practice'A￿VDtl￿g aiid Rcporting by Charilie5' ISORP 20051 i55ued in Marcli 2005 wid applicable UK Accounting StandaTds and Ilic Charities Act 201 Funds Structure Unr¢slrictcd funds comprise tknse funds wlii¢h Ihc Irusic¢s are fr¢t to use foT ttsy purpose tn the furiherance of the chariiable objects. Incoming Rc50urce5 All in￿1￿￿￿8 resources ￿te r¢cognis¢d onc¢ the Trust has enliilemenl lo ihe resources. It is certain Ilial the resources will bE received Dnd th¢ monclary valuc of illcorning resources can be Ineasur¢d wilh suifjcient reliabiliiy. R&￿sOUrCeS Expellde Liabiliiies &r¢ ILcogiiised a5 re50urce5 ¢xp¢nd¢d as soon ag there is a leg21 or ¢onstruciive obligalion CtsTnmilling thr cliaiily lo the expenditure. All expenditure is accounted for on an accruals basis 2nd has been classified undeI hcadings that aggr¢gate all wsis related to the category. Grwits payable are payments to third parties in th¢ furtliernnce of the chariiable objectives of the TTUSI. Singlc or mulii-year grants aIe accounted for ivhen ¢ith¢r the re¢ipient has a reasonablc expecifjiion ikni they will Teceiv¢ tt grnnt and Ihc Iru51ees liave agreed 10 pay the birdnl without condition or the r