John Menzies Trust for Scotus College and Catholic Education R¢p)rt FillwKi•J ror th¢ Yr4T Enthd 28 F¢knwy 2021
John Menzie5 Trnst for Seotus College Attd C4tholl¢ Edty¢#tlo Contents Rcler¢nce snd Administraiive Dethils Trustees, Rewjrt 2IDS Stam¢Nof I'Nses' Re4YAsibili 7wll Ststemerti ol'Finknci&l A¢tivi 12 13 N$ lh¢ Fina¥01 Sw¢m¢n 14w21 tkthilcd ofFin•Kiol Activiith 22th23
John Menzies Trust for Seotus College and Cxtholbe Edueatio Referenct and Admln15trtlve Detalls Hishop B r Idi¢¢ Ar¥hhislw L .. jthi)p11 r. Cillrt ljishi)r l-'m¢riiu% P A IIiTrA Aryhbislw Lm¢filUS M (i Lonli riishDpJ 111h1)J A Ti>dl Ahb1lP P TTlia 14i5knpJ C-unniDBh4m Hishop W (died 11.111.20211 C.'tsMrlty Rtyls¢r¥llon %ymh¢r L0274 Prln¢bpl Qffl¢t lIunll & R¢id l.LP 15 SquBr¢ .4krde¢n ABIO IM, ..l#dl¢or l.ICcount' Limitrd Chwkrcd C¢rtifKd Acwirflthts •wJ &•iytort" Audiwrs b'o P Ciriffll41 & Compam. 17) keli'inhwh %tre (ilasgth G3 IPR C"harks Sthnkn. & Co Limik•d 51 A1¢ $4uare EHI 3W S•llelion Flurneii & Rcid LLP AIIIO IM'F A•nkerJ l.kn.ds ISL4 pk Akr41¢* ComnKrLx C¢Dts¢ 415 Ilthivn l&'r AK'rd¢¢fi .4RIO INJ p¢1
John Menzies Tnt for College nd Catholic Education Trnstees. Report 'tIK' prEsL1 ¥nnuJl lo¥cLr wilh th fina1 and 4ydiwrs' thi. ¢harily lor ihL'yL'arended 28 Febrllan. 2021. (Ibjtttivts Md attivltlts Objec15 I"h¥' I"w's ryin¢ipo] ob¢1]¥¢ is w prvii¢k. fwds for thc ofcatholic rcli8ion and for EhL Lthcaiion iifL'aiholir& IThL main U[(c5 of incomc Are dii'Mknd4 fmm thc di¥rii>'s in%rslthl and bank dLW)sits. 4r¢ us¢d grnni P)rt forcgou¥ LFaives. In aL.[rdanL ivith Tr1 IXt(l thL havL' make an) ins"LiinLnL i.> IIL A> %u¢h. 'rruA has in¥¢sted lutyjs irt low athj mcdium risk inie5EmeM& i.e. 8Oitrnmeni securiiics and Uk SLo¢ks.'t lurLd is mana8ed by LTharies Slank) & Lo l.imi&yJ ¥.1¢ maxtmsing inwnK i¥ith a ofcapital app1#¢1n."l ¢ruscs ¢4r4lully ¢onsi&r thL' m(¥al and cthKat suitabiliry ol'thc stocks in whiLh thL'y inve5L 'lTh¢ John M¢wLi¢s Try# wbli¢ by and Cathlic ¢dutiOn in Scoil includin8 rnskiThg grants to ethic10Th attd t¢lig4ws LIb). edwiDn and religion Inr thc b¢n¢fJi ora t¥i(kr se¢l)n ofttt public rathLY than priv A1VidUal$. The Lrustces confirm that they have complicd th¢ t¢quin¢nts of th¢ charl Tn Inv¢sun¢ Iscoikndl ACL IIX)5 la5 S[Micdl. including having regawd w thc PLbJi¢ t¢rfii guidttnc¢ Publish b). the oifKe or S¢oll¢sh Chariiy Re8ula¢or. tbi¢v¢the•ts nd p¢rfom¥•rt r)uriTr8 rhe l'ear ended 28 frebruarv 2021. frty cwiinwl its obi¢¢iiY¢ ofJi'4LncinB the Catholi¢ r¢ligion and of Cafvli¢s thrwh cucfvl SrdshiP of its inveAmeni sM>rtfvlio and the protr¢sKJn ofgran¢ support io apwopria Chl1r charithble kndie I VLal InrnL for Arnovn'd EO £11&196 12020.. E1510851. Th¢ redu¢0 in in¢om¢ iompred ivlih i priorycar Tcnccts rIVI¢1j distyibuilons ¥nd r¢dured inromr durin8 the wi4ML. rkspi th¢ lo¥ In¢On Icvcl. Ihe Tn.$ invcstrncni wifolio [fornd wonBly in capitsl LL'nns durinB the ycar. Rlld gains of £273.810 •nd w¢al¢s¢ gains of £167285 in Stsmcni of ¢M8n¢ial A¢ii%iiics retle¢iing imw%rd ¢IM)dilMpnsthrl rd. Iring lh¢ l'ear. lh¢ TTU* r¢ctIvi a funkr uplill pa&m¢ni of £52.5tKI 12020.. £nill in res of RlaiTS I"tsiaiL' dc¥'ck)pmcMi in ac¢ordatK¢ i%ith tht M>S ofthc owi8inal salc a8reemem. ThL' Trustces remain satisfd the "frusl conlin ty fu]rtl its thritsblc obFrtiv¢s and thai Its r¢sOU¢S havc applicd apptopriaEL"l> and prudenEI).
John Menzies Trnst for Seotss Coll¢8¢ and Catholic Eduegtion Trnstees. Report (¢0ed} TvwI inujmi l(yr IhL )'L%r £11&196 I21J20.. E152.0151. To1 C1di1¢ 0Vn. iu £l11.219 11020.. £120,797). compri5inB in1¢5m'ni nwLa8Lyn¢N cogs uf (28.851 12020: 13Q129X ch•ritsble 4cli%iiit$ or £71.43312020.. £78.110) 4nd govcrnince of£io.935 12020.. E12J581. 'I'his Slid in a suryjlus 8iII$M Lnitymcnu of£4.977 12020.. £31.281). l)urinB Ihc y¢•r. 84iTr% in1rMmcn of £441.105 (2020.. (bf £41.9851 to4¢th¢i with othcr ylns of £52.5UO12020.. Enill ¥14{ in ¥ Tr¢1 incre in fuThJs of £49&58212020.. 1£10.69DK Ai 28 F¢bruary 2021 bAIl £7.615.15312020.. C7.IB6.5711. Al the yur rn4 fix¢J inv¢AmLThS V4vr t11 at £5.447,77612020.. £4.919.3931. Ikf¥rred ¢onsid¢raiion rLcciv4bk' 4mounwd w £1,710.l61 12020.. £1.710.161) thc han w thc Reli CThrlL'S GorthJn'$ Tnjsi Muull 10 £22.53612020.. Q2.5361. Cash thwlk.d £54a.30312020.. £573.f4)31.'lknt 'rSlee ¢onsider th Lhe Tru4 ¢Onlin w m)111 4UtÈ liqullY its 001 and dlb pbi¢aives. lTrini for future nIAl Al041¢Y obJecihwforf¥lwr¢pviods Th¢ Tr1¢ innd continue their l1¢Y Of mAinthinin8 4 divvsifKd invcxm¢rt pffifoliti irt order 8¢n¢r#i¢ incom¢ 4nd f•PiEI to the dwitsbk of the frusL Thc Tru will coffliin 10 provsth fiDan¢i•l usi5WI¢¢ W 4pwopri C•tholie e¢2b1e ldiCk 1rKIln8 ppon for hcriu8¢ and wrhbl'il Frftsvvaiiort xrd for thv¢knFwni ofBi¥irs Mus¢ym. IThL TThyr¥$ nii¢iw¢ furthcr uplill rtceipis 111 rtSW¢l ibf AlT$ FJw¢ d¢¥rlDprncnL llddiiional ph¥¢s PfO8T¢55. PaymcThts w¥kr ih¢ Trl•milEW Aven de%tlorAneni wlrmeni are e¥d w ln11n i IILe will ¢oniinue w moniwr uneskncm perfomiKe ¢losel> 8m1cumm1¢nts in li8hi of incofflc l¢iYls and ¢apii•l IT0h. thLSurini ththl Iht Trust rtmiiths fthan£ially ¥r¢ fulfillin8 115 ¢hri¢•bl¢ ob¢11¥$. John McnT.ILS TruM for Scol CollL8¢ arKI Cal11¢ P.dtIm is * TnJ kn1¢h x5 ¢sthli%lKd b% • D¢¢d irt 1855. 11 is R rcc0Bn1d S(11Sh chzviL> 18C02749)1.
John Menzies Trust for Scotus College and Catholl¢ Edu¢xtlo
Trusttts. Report {contlnued)
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John Menzles Trust for Scotus College and Cathollc Edu¢tlon Trustees, Report (conÉinued) l)Lelu5UTQ vf infornJ¥tioTr lo iydiior IAch thJsi¢¥ i&k'in %K'ps iliai IhL>' uughi ID hait kLft as a iruskc in ordcr to rnnke kn%ulvcs ai%w¢ of any rLlcvani ¥udii tnfurrtl1O cstablish Ihut Ilic Lhuriiy's Huditor 1% aivarc ul. thui infomiJiioK. Th¢ Irus*es ¢onfiim ihere i& na rL'levgni infvTm41ion tha( ¢hcy knoiv ofand of ivhich ihev k'noii. the atsdilDT is ullaiwdrc. Rethppoinlnient ofxuditor I'h¥ aud¢ii)rs Clicnts I%L AIcDUtiiatlLY LimitL'd llrE dccTncd lo k TLllPtx)inEed undcr SCL1 44IIXL'I of the Charities and TTh5tcc In%cthni18coilandl A¢1 202). ITrc 8nMiaJ fLwthri M?s approved by the IruslLYsof ihe cliariiy un 17 MarLh 2026 giyllcd on its khllll'b)'= 8isliop H Tru>iee
John Methzles Trust for ScDtU5 College and Catholl¢ EdtatIOn Stlltemtnt of Trustees, Responsibilities 'lThe IYLL%tLLS rL4Xill.4ibl¥ fi)r pr¥parinL) Ihc iruLL' rc5X)n ond ihe financial siaLI'IIIL'nis in aiLord4ncc %i'iih ih¢ IlniiL¢J Kingdoin A¥¢i>uniing StsndaTJs IUnitLTrd kingdoTn (jLncrall> Acceptcd Accou•iing PraciiiLI and appli¢dblL' and rL&iulaiivn%. . 111. 4pplicabl¥ ¢hHri¢i¥% r¥quirL'S th¥ InWLL iu pfL'parL' lindncial stdtL'meni> liir L'ach linan¢ial )'4ur i%thi¢h gil-l. a Irul and lair lL%. ol. thL ol-allairs ol. Lhc charii). of iliL inconiin8 fL'%ourccs Jnd appli¢aii•n of %ource&4)f Ilk, Iharii> lor (hai PLriiiJ. In prL'parin8 ibL*. fin&n¢ial bwi¢rn¥nL%. Ihc irubtCLry afL fLyllired LU.. leil IlIabIL aiiiiuniing rMiliiie% aiid iliLn appl! ihLIII iunSlSlLnil}'. ali %vh¥ih4r aw)licahl4 J¥W)uniingi %1and4w liaie hi4n lolloi¥LxI. .4ubj411 am. iiia¢4'ri¥l &'Nrtiir¢b I'ht InJsLeC& arc rL'%tx)iisible lor keeping prorKT accouniin8 reiord% that di%close ivith rL'&£onabk 2ccurncv li any iirne thL linllncilll POblLion ufihL' chariiy llnd en8bli Ih¥•m ¢0 ¢nsurL% ihai Ihl finan¢io15taicm¢nis LmplY iviib Ihe ChaTItILS Aci 2011. Ihe CharitLeS IA¢¢ounts R¢porL81 R¢gul¥iions 2008. and Ihe pmvisions of Ilie cons1iluiiOn. Thi If1L5¢S 8rL alio rcspjrtsible lor safcguardin8 ihe assL'is of ihe chllrit>' and hLnce for tskin reasonable for IhL pic%'cntlo arni dLleclion orrr&ud 8nd othcr irreguiariiie& "rh¢ Irus¢c¥'5 ar¢ res)nSIbIL for thL mainltnance and inlL8ritv of thL cofpDT8le and linancial infoThnaiiu includLd on ttK chaTithEc cumpany's WL'bsiic. l.Lgisl&iion ¥overning thc prcpAraiiot) and disscminaiioTr or I1¢1a1 51aiCtThents mav dill&Y from l¢gslaiion in uih¢r JUrdICI10n$. Page 6
John Menzles Trust for Scot115 College Mnd Cathollr Educ4tlon Independent Audltor's Report to the Members of John Menzles Trllst for S¢otus College Catholic Education WL hllv¢ #udiw'd Illl financial siuiemLni% i>l'John M¢n/.iL'%-l Tki%l lur SLuius LullcllL llnd Caiholic l.'du£llLi(>n lur (li¢ )'c4r ¢Rdcd 211.IbnJaTh' 2n21. %i'hiLh Lthmpri8L' Iht sl¢M¢nI ofi-indnLial Aclii'itics. BalJnLL Shcci and th¢ r¢loi¢d tro$. 'I'hL' findncial rL'Jxirling tram¥rK IhHi hll¥ hLL'n llppliL ITh Ih¢iT PfLp4rn1iun 15 JppliLYble law und F¢nanLial RL'tx)nin¢ 4widard Hpplicabl¢ in Ihe IJK and Rcpubllc ol. IrL'land 11.-RS 10?} ILnLLIIVL l Janullry Quylifi¥d opinion i>n Ihi flntsniiul lL'ni lth (iur iiplniiin. LNL'LPI Iiir lh¥ ol'ihl Inaiicrs dgsLrik.d in IhL' R#sis for Qualilii'd npinii)n rAfaLBrllph. IhL' rin#n¢ixl s¢ai¢mcnts.' %Liir Ih¢n LIL.. huiL' beL'm pfiiiKTlI' pripur¥d iii oLYiirthinc¥ iiiih Iliiii¥d KinBth)ni (i¥mL'rnll)- IllLKJ)l' ALLiiUliiili¥ l>rthLIiiL': A¥1 2nOS aThJ rL'¥uIMiion % 1s1.ihL' ChJriilL ALLX)uni4 i.%ixirltsrhli R¥¥iikjiiuS 20116 14>wD¢nd4'di Bull for qualllled oplnlon flThntll st#t¢Mtnts IAnin¢¥D¢ del). In prep¥rth¢lon of fin#n¢lthl ¥tlementi 'ThL'r¢ %i'Bs a subsianiiil dLlthy .111,£¢ Ih. li¢141 J'ear Lnd and ihc ppurlIun ufihe fin4nci41 41Mn, This resuld in r¢duc¢d Avail&hiliiy of wnlcmpor4n¢oui duLym¢n¢aiiTrn 4nd ¢¥planaiiTrD$. producin8 ¢51imaiiun un¢¢rtNinty and ¢vidcnii41 limithiivn Llrnlttd InformAllon md¢ AYAllabl¢ ILimillton vf$¢op¢l Acc¢%8 10 iccouniinB tetoryls ana supportin8 do¢umeniiion WAS in¢omple. Certlin grani paym¢ni ¢Jo¢uminlaiion and underlying '¢rdS wer¢ unu%'iiilllblL', fL'swiciin¥ our 4biliiy iu Lwniludc on wmpl¥¢cnL5¥. dlre¢i #¢¢¢u io Trusi¢e% W¢ hAd no dirccl ¢ornmunicHlinn iviih t. ch&ryed %%'iih ¥iTrVL'rniincL Urtd ivere Unllhl iu Ub1N iYriiiL'n repN'Triulion% diTL'CEly from iru$lccs. All CtyTfL'spondcncc vrds conduL'led thr(bu&h Ihc'l'rus1'5 Ic841 advi5crs. limilinR our abiliiy li> mak¥ in4uiri¥& a5x&% uv¥r5i8hi. and ¥iinfimi ¥umplLw'ncss vl'Ji5¢1sUr% linLlud¥n¥ l#l¢d purtiC51. 'Th¢ 4kni'¢ resuld In a limii¥(itrn ofscorrt. leading qulifi¢d audii opini(m lor thL' &T ¢nd¢d 28 Febru 2021.
John Menzie5 Trust for Scotus College snd CAthollc Educatlnn Independent Auditor's Rcport to the Members of John Menzies Trust for Scotus College and Cathollc Educgtlon (¢ontlnu¢d) ('4n¢lysions r¢laiing toncerTr port ol'ihi uudii tyl'ih¥ liiiunciul MMILnicnis lor Ihi ylur indL'd 28 1.cbn¢Jry 2021. lon%1,. (IIL TNs1i%'5' %L'ssmLni lil. IhL' Tw%l's abiliiv 10 LoniinuL giTrin8 ¢1)n¢L'rn. WL. WLrc unabk. IV& ublain an). rL'prescnitsiions Iriiffl ih¢ I'ru$iL%¥ r&wJrding Boing ¥vncLrn. AL1)rding1}. pLYfornLd uudii pr¢x¢dus lniludiS'. Ri1¥V ol'ih¥'lru51'5 fin¢181 p()%iiinn '.x&minuiion i)rinv¥iMinl holdin84 ond post >iarLnd Irun%o¢iion% %ub$tsnii¥'L IL'Stin8 iJl'a%'ailllble inliirmai¢Dtt. aLln]ils and major ineomc and e%pend¢iure ilL'mx. I1%.1] t. cvid¢nLL' iJlxaitKd. WL hllvc i¢k.niifl any motsri¥l unLirtyiniies Ih41 could Lu%1 Iigniliconi di)ubi un IIIL Tru5¢'¥ ubilil) ID ¢tsniinuL' &% ll 8lllllU CONCL'rn lar llt l¢a¥i LIYL'lvc nH)nih% fTOffl IvhLn Ihe fin0LIa1 sIHicmtnts &r¥ lluthori5¥d for i$. Th¢ fiiiAii¢ial $14icm¥n14 ha%.¢ Ppar¢ un a ¥oinu ion¢tm h#%1%, %vhs¢h Lyinsi¢JLr prnpria. Other Inform4¢ion As pEri ¢11. iiur oudii of IhL finanLtul I1¢M¢15 w¢ hai'L NviLiied Ihc ¢)Ihcr infurmaiion includld in ¢hL' thnnual rcpurL spcc¢licllll)' Ihc'ffUStees' Report. The 'frusLLfS llfL' fL'SPDnsiblL for ItLC uthL'T Lnlormolivn. Our opiniiin on Iho linancial sM¢hIS ni)I covkr Ihc ll¢r informaiiiin Dnd. exccpi iu thc ex1 01herwi c¥pliii¢ly slad in Liurrcwrt. w¢ do Triii Lxpr¥%% Bny lorni of4ssurdn conclusion thorem. IM connetiiott our uudil of ihl tlTrllnciol sulment, Lwr rL'sp)nsibiliiy is regd thL' othL'r inforniaiiun. gnd ifi (binK su. &unsidL'r wh¥ihcr lh¢ 'r ¢nfi)rm41ion is miLrioll)' inLwn.%iSl¥ni wlih thc finllnillll siumL'nis (Jr OUT knowl¢d8i' obthincd in th¢ au¢Jii iir ¢Jiherwi.%¢ App¢aT8 malL'ri¥lly missiaiL'd in Lhe finanL'ial sLlli¢mints or ¥ mail'riul misst1m¢nt of the i)Ihcr informalion. If, b9$1 on IhL' wvrk h4v¢ PrrO¢, wc con¢ludLd thai 're is a mAILrial mi%hiUiL'ttbeni of Ihis other irtformwion, rcquld rrport ihL f4cL WL hRvL n¢rthin¥ ¢0 r4wri in this 841d. Oplnlon on other mllti#rJ In Duropbnii>n, bAs¢d IhL und¥4rtk¢n th¢ coursL' thl'ihe alldil.. Ihe iiilumiuiion ¥i%Lli in rhL I'riiJi4¢5' R¥wri lor lh4 lintsnL¢ul >¥llr lor i¥hi¢h IhL fiwiKi#l swiemL'xi$ thrL' Iht TrusiLL'¢ Rep(ffi1i45 ppLd ID H¥LiirdDn¥¢ iviili &pplicoble1¢8dl rk'4UiTL'iiienL%. Ilatttr¥ on whFeh wt xro roqulrtd In rtphri by ¢x¢¢ption In thc li¥hi 4Jfour krHiivl¥d8¢ ond undL'rsthnd¢n8 of thL' ¢harily and IL4 cnvirurtmeni I)bltd irt IhL t{r. ul'¢hL udiL hav&. )wi i&,niill¢d mer11 missiaiements in th¢'I-sir¢S. RLyort. Pa8¢ #
John Menzie5 Trust for Stos College C4iholic EdueatloTr Independeni Auditor's Report to the Members ofJohn Menzles Trust for ScotllS Collegt and C•tholif Education {continued) W¢ h4v¢ noihing fL'rMbri in of ihc lollowing m&iiErs ii'hLr¥ Chariii¥'s nti 'frus1. Inii'simcni Iscoilondl Aci 20rJ5 und IhL' Chariiic5 AcLi)un15 lscoilandl Eicgulg1ion% 2(K)6 las amcnd¥'dl r¢quirLs us iQ Rttpecili't rtsponilblllile% nd udlto 'rhi5 rcpon is sulcly w Ihc chJriiy s 1rn%16cs. as u hiMJ>. in is'i¢h x'liiun 4411 l ¢ Dl'thL C'huriilc$ and TNsicc It)vtsimint 1SL'oilttndl ALI 2005 ond port in &LLiJrd4nc¢ %viih ihc and l¢vIn1 rL8ul41iun mtt(k' ur hoviThJt Ih¢riund¢r. ()ur M'iTrrk hus bccn UndertllkL' w Ihul 14i' mighi .%llL' 10 IIK IruML%'5 Iho m4¢K'r% wt arc quId 10 10 InJ$wc% in 4n audiliirs, rep(rfl und ltir ni) thihcr purwjse. 'In IhL. full¢ ¢¥i¢ni rmsiicd by law. Ivc dts i¢CLPi i)r assumL rrsponsibiliiy w Jn)'ont uihLr ththn IhL' Lhttrity ind its Irus'S as a t¥Jdy. forour iudii ii'urk. for Ihis rL'SYJrt. or for Ihc opiniDns hai'c formcd. As Lxpluined mirL' lully in Ihe 4iulL'meni ul Irusie4's' Rc%wnhibiliii¢% I1 oui i)n p¥¥¢ 61. Ihc Iru$iec8 rL' r¢spon%ible for Ihi pr¢p&rtttion lif Ih¥' finoncill %i&i¢nKTris and for bgir¥ ¥#iixfi¢d Ihlli ttk'y give i IruL' And fair l'lew. We knvL' bccn •ppoiniLd 8udiiors in gccordani¢ wilh 5¢ciion 4411 I I vl. thc Charities and 7'rL. lThvcsim¥ni ISLiiil4ndl A¥1 2005 und r¢pvn in ¥cviJutbCC iviih IhL Aci. Our N'brNnsibilily is lo 4udii Ih liftancittl StaML.nlS in 8Lcordgn¥L wilh applicablc law •nd IniL'rnBLionyl SEand0rds on Auditin8 (UK and Ir¢landl. Thox ¥thndard$ r4qUiT¢ ux lo romply wilh Ihe Audiiin¥ Prnciiccs Ao&rd'$ IAPA'%l l.'Ihic41 stndrd8 ror AUdIr5. Scope of tht oudli of iht nnn¢ll Jf•iemtNI¥ Att audil ittvolvch obiainitt8 evidLniL' abtsui (he amounls and diKI()%uTcs in Ihc finonL'ioI.41IiiLmLnts surricioni 8IV¢ T¢4Trnable utsur4llcL' thAi littDtL¢i814ldMenls gre fTCL. Iwm ffl4i¢rial mitstsicmenL whLiher ¢ouscd by rrllud i>r crror. This includL'b aw¥5¥m¢nl ol.: he1'¢ the ac¢ouniing t111¢5 r¥' appropri41¢ w thc charity's ¢lftumsinc¢s ond hmve trK'L'n Lon5151¥nily #ppli¢d Jnti aJ¢quui¢ly disclused.. IhL' rL'llnab1cn¥%S ol. si¥nili¢#ni accwntini L'stim&ies mAdL' l)y thL' IrSe$. Ihe 0'rlI prLKnilliion uf LhL finanliul ¥ialL'mtnts. In odditiun. Nad 411 lh¢ financiul und non-IirtynLial infom)aiion idi'niify Tha'r11 inLiin5iSteneiLS with Ihc oudiied ringnlial statcmLnis And idcniily any infomi&iion ihai is opw¢n¢l)' muirriHlly irt¢orr¢tt on. or m8riully inconsisieni with. thc knowled8e thcquiv¢d by us in ihc courx DI. PLrfuTmin8 ihc audli. 11-K. b¢¢orn¢ uf&ny Bppllrent malLrilll miateMents or in¢ullsist¢nLicy. con¥id¢r th¢ implicaiiothg for our iLPOrt. A descripiion ol- Ih¢ scopi ol. an audii ill. lin4nLi#I ststcmL'nts is pfti%ided in lh¢ AVB'S il OUT Ob£111.¢ 10 obiaiD asonbIL. as¥urance th[ul ivhtiliLr Ihe finJn¢ial $tsicm¢nLS a whol¢ fr¢c Irom maicrill missisicmL¥ni. 'h1hr du¢ 10 frnud ¢rn?r. and ITr I&%UL' audill)r's repon Ihai in¢lud¢s our opinion. Re&sonablL ¥UraLe is 4 high levLI ol. L4surnn¢¢ bui 1$ ¢LO¢ a ¥uarnniec thon In ttlldii Condu¢d in c¢ordancc with ISAI IIIKI will 1.1,5 d¢ic¢i ll mtticridl mis%iui¢m¢ni whLn il ¥xi%l%. Mi551#l¢menL% ttri.%L' rrom fraud Hnd and Irc ¢on%idcTcd M&'r111. ic indi%'idually Ih¢ ag8r¢gaiL. Ihcy LUld Tea50nablv be ¥pl¥'d to Ihi L.noThi( dctisions Dfuser% Igk¢n on lh¢ basis ol'ihcse financial Stslcm¢nts. Ittc8ulkriEies. irttludin8 IT4ud ore insilntes ol-non- i(nplian¢¢ iviih gnd re8uilliions. W'c &.si8n procedures in lin¥ %¥iih our TLsponsibiliii¢& vuilittcd Bbove. LU dL'IL'LI maiL'rithl mi&siiii¥m¢ni% in reSpL of irrcguluriiie including fnLud. Th¢ l¢nI ivhi¥h Dur PTpL¢dur¢s 4rL cllpahli, uf deiLLiing IrrL1lrl1lC5. including Iraud. is dlI1¢d b¢Jw. Page
John Menzies Trust for Scotus College C•tholi¢ Edu¢gtion Independent Auditor's Repart lo tb¢ Member5 ofJohn MeDzies Trust for ScotU5 College and Catholie Education (continued) We olxained an urNkrsUj7g of the leKal Jnd rLzuLiioTr framcl)r[. thal are arvlicablc io ihc eniii) dL.¢erm1d ihai LhL rn0 significant in rcLaii4XL LO arrK>unt5 and disck>5urcs in . financial #alemcnrs art i¢m¢nts 4)[ R¥wmmcnJ¢d Pr2¢1i¢¢ appli¥Ybk C'h¥5 'Ir ID with FRS 102 FinanLial RLwrtinD %%andard I)liCa- ith thc UK and RLyublic ufir¢L4wl. W¢ a5cd ihL risks of ma¢trial missiat¢Mc th. to fraLd by thc nzEurc of Lh¢'fTUSI'S A1¥1[1% i¥thdhL'r r[airt arty4s QT pr(Kc5s arL" likel)" LO susccNiblc to irrt8ulariL We aly> considered thc 'rrusr's risk rnaaa8LYllL'nt rKoLYdurcs and controb"Sl¢M$#nd ¢onsis¢¢nil!" appli¥ B&d on ihe rcwlts of our risk d¢%igttd our audii I¥edre$ 10 idcniify. #on compltance TrAiih h iaii% and r¥eUltlL iil¢ntili¥d ab)i'i. ThthK' s0(eduns iTrclu(k.d - of ihL findniial stalLMill dik>SU5 ts) wxkrlviTrg 5yNwjngdLrtl0n - rnaking apwopria trtquirics of marthgctncnl - rcliicw. ul'fflinusofTnL%e me¢tings thruuglM)ui th¢ - i?hiainiThg an UndCrandlng ofthL ntrOl 4TrvwoThmcni it) nK)niu>ring tompliLt ivith and 7all05. We akn consi&'red thc risk or rr¥wl thruugh oierri of nOI% and in T¢srKJns¢. l"l¢Wed liThancial records for u¥1 wansath•)ns or kn. wthoyr a smisfaffjory exp1afft10n. No such iitm5 VKYC ithniifi¥yL Lt of our reptsrt This is madc solcl) i. "InLg'S m¢rnivs as a IMKiy. acc(thc¢ with th¥ x¢tion 44 111 Icl uf ihe Chariiies aThl TrusE£e InEMen1 IS¢oUandl Ad 21XIS xnd regul)n 10 of the Charilies Accounts 1ScotlaTrdl e@l05 2006 145 8mLThJedl. Ow lus b¢¢0 wn¢krthk so rnh1 to Mttr5 thosc maiK'rs K ar¢ rLyuired lo Sta EO them in an aUdIr s rewi aTrJ for N) oth¢r pvrw%. Til eyteni pernjiircd by law. do Tr)1 a¢c¢o ¥ew- nsibility th ¥nY(K than and its I>y. for our Rudii iiwk or forthc opinions lye have forn&. Pwlo
John Trltnzies Trust for %tot115 College Catholir F.du¢ation IndcpendeDt Audilor's Report ¢0 thc Member5 Df,lohn llcni.ics Trust for Scoius C¢)Ile2e Jnd CJiholic F.ducdlii)n Ic(InllllULdl ('hJriiKd I'jriiliLd ILLouniani.% Iiaiiiior%-.ludiwr% 17 NfdfLh ?0?6
John Menzies Trnsi for S¢otss College nd Catholie Edueatlo Ststernent of Fingn¢il Aetivities for the Ye•r Ended 28 February 21121 I'MrNlririd fuAds 2021 IDrom¢ from: 116.1 I Ih.l¥ 11(b.196 116.19(b k%pEndiluTr ots: 12#.11511 Chur¢iahl¢ adiiili¢> I IlJ.935 441.IU5 441.IU5 44&08? 446.118? Olher rttoiAiswl iip 1rf4es 52.500 N¢1 mi?%eiM¢thi in lunds 4yII.58? 498.5h2 RttoutllltloA of thnds 7.Il&J71 7.1¥6.J71 Tothl fUndsrri1 livd 7.(p8J.153 7.6¥5.153 T•tsl 2020 Ad5 Ihcome ind F.ndowmeNls fro: 152.1115 152.(185 1$2.0115 152.0¥5 Fipendliun OH: Raisin8 lun ChllriiAbk xxi%'iiies 130.129Tr {30.12¥) (io%'trn&n¢&' thsts 'roithl ¢XldilUre 1120.7Y7) 41.1)¥51 112Q.7971 41.¥151 N¥•1 ¥IrnlIr¢ (10:71 NL•I mo%.¢ni in luwls I IOJ>97) Kttoneiliglion Of fund% Toithl funds briiu¥hi li)n%4wJ 7.197.261 7.197.26 'roifyl funJ% urri¥xl 14ThW 13 7.186.571 7.1¥6.571 The Pg8¢s 14 th 21 form inle8rdl pt of finwKiqJ staknnents. Pa8c 12
John Meftzies Trnst for Seotus Collegt #nd Cathollt Eduetion (Registrailon number: SC027490) B4lance Shttt as at 28 Ftbruary 2021 2021 2112 Filed gmets 5.447.776 4.91y.39• C'liv111 a$$tls .Acind iliLIIIII¢ l.ow) R¢LYlI"dblL'. . Chark Tn l.i77 22.5ih ??.5.16 10 J>li ai bak and in liand 541.50) ) 577 i7i.fyoi ? 3117.580 14).?00 140.4011 et eEtrY¢n¢ a$SLts 2.267.179 7.615.1Si 7.116.571 Funds ofitht ¢hril>- C'llrestrie¢wJ ineotybt fithds lJnrL'Mricd 7.68i.1>3 7.116.571 Total f¥D¢J$ 7.615.15J 7.186.571 'The flnattcial AatemertL% on wg¢$ 12 w 21 Mrr¢ by th¢ trus¢& and auUK¥ts¢d fur on 17 March 2026 and sig1 on th¢ir trfhaifby.. isl¥)p H 'rrnsree cli11rt The rM*cs 14 w21 w¢tr8rat orkn rMwKial swemettLt Pa8e 13
John Metszies T51 for Scoths College and Ctholl¢ Edu¢a¢lon Notes to the Flttameial Slalewents for the Year Ended 28 Febry¥ry 2021 Si¥iem¢ni tyftump1ltt rh¥ l¢nan¢ial hdvc prcpud in aco>rdthn4%' Mith applirablr UnilLYi accouniin Aandard& includin8 Financial RLVrtin8 SEand4ft1 102 The -PrtIng Siand3rd applicablc in thc LK ¥t)d Republit ofi¥tlan& and ihe Clwities Sw¢m¢m of R¢comftKthd Pwxiire Ik115 1021 i$5ued in Jul). 2014. Thl aiyowits hav¢ PTepatrd in accordanLY 1th . Qliariii¢s and'frutt InvesthKni {knlatwJl Aci 2005 a¢yJ the CTri(S AccounLsIS¢landj ReBuIn$ 21Th {0$ wn¢nI. Ila5i5 ofpTEparaliD John meS.fnl for Colk7¥ Catholil I'AiuL71iDn meets thc (rlI1( ol. a wblic ri[ cntkLJ undLY FRS 102. The accwts {rinatt¢ial hai'e Ixxin pr¥yar¥d un&Y th¢ hi4wri¢al wni'iniion IEh iienL% r0@iS¢d ai or tra¢wiion utLkss 0rWi% Stad in th¢ r¢kvani Wld$l Ni th¢s¢ wn The mLSes con&T that no mcrial a1 (Iwiiy's ability to cixttinue & a 8OllhB l•¢om¢ #nd endowments Dividcthts r¢¢o8nised M¢e th di¥KIEnd ha% Ixen (kclared ond tknxlr1IW has rtteived ofth¢dii'idend Exptthdltu All ¢xnditur¥ Is r¢abBni%¢d on¢¥ L. is a Coltstr obl110Th w th3t ¢X[li1vr¢. li 1$ prob•bk s¢iilcrrKni is YlU1TCd and amowit ¢n k mtLMLTtd rrliably. All COSLS are allocaicd the spplicabk LX[ndIlurQ. hadll awc8ak similar cos5 EQ ¢8tr80ry. Wher¢ ¢(sts dir¢ctly albted partiLvlar h¢ading5 thcy hav¥ al¢d on a basis tonsisienl with Ihe use of reUrceS with CLntral sthll. ¢u$ts 1$xl.d on th¢ ba$ of lime sfvnl and &'wciaiiDn charges all(Kd on Ehe wrtion of 1.% w. Othu supp)n ¢osts aye alhxaknl bd the 4xeLdofstaffc "lTh¢s¢ ar¢ in¥wrcd in %luntary inLVEK manaKernem of inv¢sm¢nts and iryrr in tyading a¢iii'i¢i¢s funds. chai1bI¢ t.¥wliurt tottyixs th0sE COSL ]NLid ty. the Charl thc d¢liv¢ry ofits aL¥lli&S atmj strvil ror lis Trneficwic& li bAh rosts thaT Lan diredv th sh 4¢iNiii¢5 ofaTh indir¢il naLur¢ tKT¢S53Th LU SUPP)rt kn. ProvisKtos lor grdnts mL. ¢k" in110n rnaL"e a 8mi has kn'n comrnunick'd iD the rcLiPiL'ni Ixji is un¢¢rtainiy limin8 oftk. 8rartor th attMKmiOt"8ram rAyllble. Pa8e 14
John Menzies Tst for Scotus College and C4tholic EducaliD Nole5 ¢0 ihe Fin4nciwl St41ements for th¢ Yur Ended 28 F¢bruAry 2021 (eontinued) c.¢An¢t costs IIK" intludt thc aitributhk chariN"'S o)mpliathc£ iiith ¢ortstiiutionl al iequircmLYII& Iludin8 audiL SEr8tw¥ M•nagLm¥i wjd T¢imtrwsed expetws. Txiio Th¥. ¢hariTh' is ex¢m¢A frDm On ILS chariL4blc aclii"SLi¢ T•n8ibl¢ fis¢d Fixld asscls hait hixiTrTLcdlli inclu&d ai tht YaluaiKpn lime of in¢otFKYioM Irt Ihc rinanLial 5WL'mcnts in 1999. Sukn¢quent addiLionsHr¥ includ¢d WSL Ikprt¢i#iion 4moriisxlio tX'prLCiaiiOTh is tKo%id¥yi ¢angiN¢ fTh¢d assets so as lyri. oif th¢ or I?141101 lmad Tc%idual value. th¢w¢xrrt¢'d wfvl life as folhjiis.. FrcdK)Id buildings 2% annrn Exndire ort fixed is capiEalised ivherc & C05L 15 Mala1 w the firLqncial Fixod asset invutmtots Fixi assLI invtAmtniK oih¢i than poRrknime rtId art mtei the blancL' shLYt dale. Realised gains ztLd k>&4LS Oft inv¢sm¢tLts 4r¢ CCul& ¥s tr diiferLYJce sales proceeds and Ik'ir rnllTket Yllluc ai swi of¢k year. or thcir sub¥1 COSL aTrJ w¢ chad or cr¢did th¢ Sthm¢ni orriTrancial Aciiviii¢s in Ihe rI(] ofdi4Xlsal. Unr¢4]i%¢d gains and ioss¢s wr¢seni th¢ mov¢m¢n¢ in markci during thL' y¢r 4nd ar¢ credId or ¢harged kn ¢he of Financial AthjVLLs trAsed on the fflark. value ai thE yearend. Cllrr¢Ni 4ss¢l i•vesiments Current asset InVesfftr arL" inchMIEd thE hibYrofc05Land tcaltszblE valuelmarkd valuL Csh Aod cqui¥ilcnts Cash aTrJ cash equivaknts on harKI aThl call &tmit% atKI other thrt-term highty liquid invc51ments thai 8r¢ r¢adil!' ¢onverriblt a arnounr of Lysh and are wbica insignificant risk of ¢hang¢ in i'aluc. HorroTriD In'rLI-bcaTlng i%)rrwnEs ar¢ iniirdlty rt¢OT&d 4¢ fair vahJ¢. rrti of tr•0 CO Inrea-b¢arinB bwrviVin¥S #r¢ sUb%.4nI1)" taNied ar atnvrtlxyj (OSL iith ik. dinLY¢ Ik"Il%un thi prutcc nil uf Iransact com and th¥ dw or¢ r¢&ynwiM 4$ # ¢hgr8¢ i. ofFi¥tl A¢rii"iiics over th [&ri{0[ r¢levaDi lyThwing. In're is recniC on tSis orth¢ ¢lT¢aivt aftd is iDcbJ&d 1¢) payabl¢ and similar ¢h•r8 Flurryb7nBS t classified LiJrr¥ni liabiliiics unicss the dwih. an uncotLdiliun&l righi io defer seulemcni or Ihc liability for * Icty iilrl%e month% •ft¢r datr. Pw15
John Menzies TNst for Stoths Collett 4nd Ctbollt Edtsution Notes to the FiTrancig1 StatemeAts for the Year Ended 28 Febro9ry 2021 (¢ontlnued) 5tThctvrc lJnrLficLed aTL' g¢ncral funds that ar¥ 4I7ikthk for w ai di%r¢iwD furth¢ of Ih bji'¢ii¥'¢s orth¢ ¢haTtTh". tksigNatcd fud$ atL' futth for5£1r1C purw-s thc det)n ofthc irusECC R¢%iricd funds ¢aD onl). b¢ u5¢d fur Erti¢ular r¢stri¢trd puw kn"iihits ihc obj¢¢tsofd chrii!.. Restrithitrns ari&L' i%thcn srificd b). Ihc donor or1vk fun& arc red for particular rcstricted pIrr Clas¥ificuiio binancial assc15 afid frn(la1 littbiliibcs arc wcoKnised wh¥'n tr d4ri1)' b¢romts a r). w th¢ wn'1y#l Pn)Ii%i0Th5 of the irLSLrurncnL Financtal liabiliiies and cqwii inMThnts ¥r¢ cts5sifKd accordin8 of lh¢ ¢ontya¢iual ?ngeMen15 ¢ftl¥Y¢d inkn. An ¢quiTh' is any ¢onu8¢1 th ci"idcrtS a T¢sidl inrtsi in the asLS charst) aflerdtdudl all ofiLS liabil¥iit& All financial asscts and liahiliiics are iniliall). mtr&svrcd at trar1Tr w¢¢ liTh¢luding transactFon wstsl. cyp1 ror th)sg fJrWK1 a15 ¢bs51r4 os IE fair v•lu¢ thtough profil or h)s& which Irc iniiially mca5ur¢d * fair 'alw l%1thi¢h is noffn•l]y th¢ warwciioTh ryi¢¢ ey¢lUd transa¢iion ¢ostsK aFrtJbgemethi ¢OTISlilUS a rinanan8 transaction. If 8rrnth8erl a fMancinB IrathL1iDlI, the financial asset or fir81 liabili. 1$ mured al ihe valtt of thc fuiurt pAymtnts disroynd aE 4 mark¢i r of inte for a sijnijar debt instrumenL FInCial assets and liabiliii¢s only oifxi sn th¢ $wenI Orrinanci p)siiioth ot)Iv whcn thcrc exists a legally enfor¢e8bk righi to sd th¢ rec(Odnd amounts d the thlY intrthls eithcr th seuk on a nffl or to relllise the as and settle lillbiliry. 5unu11]wSty. Financial are &re¢o8nis¢d and othlj Mkn al Coniralfft rights 10 ihe ca%h fiM%s fwom I linaniial expire or arc trICKL bl thc chariE) transfers Èo a[th¢f pon}. subsEaniiall!' atl of the risk5 and wds of 0rship of the finHnci41 &<%eL W c) tr dllrity. IvIng r¢¥1 rn¢. tM)E 1. signifi¢ant risksand r¢iwtK' of0rshi h&s tr•nsfcrr¢d wnwol ol'th as 8Troth¢r party. Finrig1 liabilities are kn¢ognised wty the ob1lBats Slf th the is dischrge& tatwcll¢d orcxpitc InveThL'nts in ra)]avertIbIC prefcrence shanis and non-wttsblc ordinary OT PTEfeT¥tKL' slwes I1¥. kn. publi¥l) wa(kd OT Ih¥ir lair %41uL' Is r¥li#bl!" m¥a5ur4bl¥) 4r¥ ai liir %4lu¥ ihTougli prolii OT b55. WhcTe fair valtr nkxwrtd T¢liably. #)VeSLments are mcawrtyj t(x)x kss ¢mpairn*M. Py16
John M¢Trzies Trust for Seotus Collegt lld C#tholl¢ Edut•tion
Notes to the FITrAn¢lal St•¢¢Jnents for the Year Ended 28 February 2D21 (eoM¢lnued)
"lkn¢ chnriiy uses .111.811%.e fLndnii31 4xpNw¢ 10 forci8n ex¢han8e rk and in1LL
moi'&yn¢nis. Ihariii" &>cs not hiiki Vr deriiiir fiNJb¢ial fot SLlLlL. purrA)SC5.
rlerifvyli% aT¢ iniiiall¥' riLJryniStd al fllir valw * ihc da a dcrii'iiiic coniraLi is cniu¢d inm) and ar¥
subscquenily renK'asurcd Iu Lk'ir fair I'41 c4ch rrrMin8 rnsuliinB ¥thin or 104$ is rewgni%L i
akm
John Menzies Trust for Scoths College and Catholic Education NotH to the Finan¢ial Sial¢ments for ihe Year Ewded 28 Febru4ry 2021 (¢ontlnued) cosls 4 Fxpepdiiurn on ¢briihl¢ •tli%l l #Mirbritd rund lotal OirLI Lo> ijf Lharithk. liVi11$ CDrJni rrfLI"ahl¥'. Th¢ S(titiish Cal)1 .4rL'hii¥ 7.593 6).840 10.935 7.593 63.840 10.935 T•lal for 1011 X2..768 Tot1 ftsr 2020 90.66¥ Y(>.661 ThL #trJ%'e 8r8ni pllynk'nts Tr.5 w¢¢d •wwdg iniithions th wovi&. roS lor lh¥ Iwilicr¥nL'¢ DI. Caiholi¢ r4118ll for duction Dr Cthlir ll¥x Thun15 41¢ 'Ii¢L¥ vfTru¥i¥%¥ on D annu•l buis. ( •ruirkt¢d fun PnTrfL%ionHI f¢4¥ A¢¢uuthun¢> Iks I I 4udii o1.1. charii%'sonnuAI 4.215 3.360 3.36( 4.•15 3.360 3J6 TOIMI for 2021 10.935 IV.935 I'thial for 202 6 '1'TDltoes rnmxAeratkn ¥nd ¢¥p¢w Ntr )r COn'Ld Wilh hav¢ r¢¢ei%td am. rebMnErniiDfi fr tk thHrii} durin8 Ih No havk iec¢i%'¢d an)" r¢mJY1 1x.riL¥ from th ¢harth> durin8 Ihe ythr. Pag¢ 18
John m¢Zie5 TTU5t for Scotus College and Catholle Edlleatlon Notes to the Fingnei81 St&tem¢nls for the Year Ended 28 February 2021 (contlnued) 7 T4iAi5on I". ¥harii!' is a r¢gi&iL'f¢d th11). dnd i) IhLrcforL' LXL'mPt frDm Nalln. 2020 OIliLr iii%-¢brm4nts 5.447.776 4.919.3*) iher ltti'estmieNts C'oxt l alu#iion Ai l MarLlI ?O?O Rei'aluaiion 3.Y05.3U5 179.i66 71XI.7R7 {4?9.689 -U14.088 4.91¥.31)3 167.?XS 790.787 429.689 Athlitions DispDsHIs Ai 28 F¢hnJaTh. ?021 4.445.969 1.001.807 i.447.776 et bookiTlue Ai 28 FebrTr. 2021 4.445.969 I.IKbl.807 5.447.776 Ai 29 f¢bnrI. 20ZO 3.YIF5.305 1.014.088 4.919.)9J Y Deblors 2421 2020 ALiru¢d in¢oin OEhcr debtor5 1.377 22.S36 1.280 22.536 •3.116 Thc .1 has advancL'd a s<cured h)an ro 'Thc RL-VLfv'nd LharlLS Ciordfrn'h TrusL Inw'r¢ of £554 ivas reL'nKniscd during th4 !¥ar12070.. £1.0891. The loan balancL at 21 febnjary 2021 £22.53612020- £22.5361. 10 l)tfernd C'ousrdeThlioTh Rt(civ¥blc 21121 114niiliun AiinuL
John MeDzi¢s Trys1 for Scolus College Catholi¢ Edue8tioii Not¢S ¢0 the Fittntial Statements for the Year E•ded 28 Febrnary 2021 (eontinued) 'tb¢ dEfwrLd consi¢klOn rcl¥Able fTOrn disrAd of th"ITUSE"S tbTopert) llt 61 Ilamiltort AwLnuL' rtyll¥i%ing ¢hc rLT Df kEal Eiilc on 21 %cptCMlr 7018. Tr bRlancL' rcprLscllES consitkraiion CDnLraLiuallJ' d, un&'r Ih¢ lL' 4rttmLni 1% rtt¢ib•bk in u11meN ITh¢ TL'¥Yii'ablc is m¥a5ur¢d JE amorti. L5¢ ThL" Tnw¢¢s r.%rd r¢¢o%¢rabil¢i!' ofthe OUW*DdiTh balancc ai lh¢ ytdrtnd and ¢on$¢'1 il fulli. r¢(oiYTrhlL. Ai 78 F¢hnw%' 2021 th[¥Yred [clI.8b t4p EI.710.I61120J7 .. £1.710.1611. I I •nd ca4h cqu51'alrnts 2021
48.?O3 )73.1 12 crcdi107S= moDnts ftl•Rz dD¢ wiihill •De 2021 2120 Accruals 45.2 45.2(K) 40.401 4O.4(JI 11 Fund5 Inclu(kid IN Re&iur¢es Exnd is trAla OUgh1 fonvwd Irom th pru'ious ¥waniouniing £7.186.571 i)0)0 £7.197.2681 l Nr¢stri¢i¢d Ci¥ncrdl 110.1% 7.516.457 1726.7611 52.51x1 9SX.8y? D¢signai¥ 7?6.261 To¢#1 fvnd5 116.IY6 7i16.457 525(M) 7.685.153 lxnce at 29 F¢brn#ry 2020 pethde41 'rrwf¢rs ( ttrts¢rlrted f#*d5 CILrKrnl 152.W5 7.0.14.486 17)6.?61Tr 6.4fi1I.31 Ik-%ignthiLd 7)&261 776.261 Tothl f•nd$ 4.486 7.186.571 P4e 20
John MeDiles Trmt for Stotus COllt Trd Cathollc Edueatlo Notes to tht Financial Sf#iethellts for the Year Ended 28 Februry 2021 (¢ontlnued) l)¢si%nid funds IX'5iRnat¢d lynd$ Hmount5 Lstdc by I"ru5kn¥ ltyr slf1¢ pwps¢s. Th¢ {k%Icd fund blillnce of E726.261 {202L).. E726.2611 Wntin'S LD k. mdinL&illL'd in accordan. with Tr¢ inslruffliurn KlIn4 rctairKd procccds linm ¢h¢ S¢ows ColkT¥ sak.."[Th¢ no nMNL'mcrLts tpn dcsiBnated fwids thL' y&4r. Crlns And 105KJ o# i#wtsimeois Gain5and Ioss¢son wmpri 1th Vir6 •nd kb arisingon dispjsals dur¢n8 IhL• !'L'4r ¥nd u¢w¥Yliy¥'d 80iTrs and ILtsXS 8risin8 on of p)rtfolio * th¢ TL.rling drtlL. The Mow¢M¢n .111 murkei performin¢¢ ow¢rth¥ )¥r ¥rMJ Ck1k¢Ts. d1s¢r¢tion mlln¥¥LmL'ni dL%ision$. O¢b¢r rewillstd Ind IosKs ¢8n15 yins loss¢s of 152.5W 12020.. Enil) Blairs FJw¢ uplin r¢¢¥iw HflJlO8 fro the Ion84trm dcvclopmcni arraD8cm¢nLS in ph(c. The TnlL$ no uplill Trce4fj15 f¢ th.rnd¢ni on th¢ iimina dthrlopmebm m•y th¢refore vtiry y¢yrth yew. 14 RtlAt¢a p¥rlJ' Irisltll••S Durin8 the yL•r ihe £hvity mJe folk>wini UknSttiKb The trustees of Lhe Johrt Mcroits Trusl for Colk8¢ •wJ C•th+lic 4r¢ alw of CNf.T lalso th¢ Bishops. Conf¢r¢n¥x ofs¢oilThl). thrirtg lh¢ Y grlnts Yr¢ made c011¢ ¢hrithbl¢ includi Scollish Loholic Herits8¢ Lollc¢iitsns TrusL To1 ¥rkn¥ed and ld thwin8 tht y¢w * thr Scottish Cthlir 11rrity Coll¢dMmS WWUn¢¢d £63.14012020.. £56.637k comprisiThi knvwds ¢o¥L% l¢yl ¢YJxDs¢s muscum At y¢ar End 1•¥¢5 CNET orOther abOd{lOIo.' nil). No I"nisik rtcci%l or b¢n¢fi¥ from Trwi durin8 th¢ (2020.. nil). Tn$ reimburd only for1¢8iiim• CXFKns¢s incurrd in thc wfoTm•nrc ofth¢irduiK& P*g¢21
John Men2iu TrSt for Scotus College and Ctholie Edue#tlo Detailed Stateent ofFlnncial Activiiies for ¢he Year Ended 28 February 2021 lo¢al 2021 7011 2020 Ini'elinLnl incomL lJnJl)SLd .11-} Ii&i 152.nlj Tolal inctMK' Rai4in¥ lunds lan01)d .101%.} Lhoriiabl¥ 4¢1iiiii¢% (anal}.d kloll-} 130.IZ9 I90.11 42.3b8 'loul 120.797 4.Y77 4.Y77 Towl fuThls iYou8hi foniwd 7.1¥6.571 7.197.208 7.IYI.548 7.228.556 'thi$ p¥e &xsrK)i orth¢ fit)uial Page 22
John Menzies Trnst for Scotu$ College and Catholle Edlleatlon Detailed Statement ofFin*nciil Activities for the Year Ended 28 February 2(121 (continued) I'olAI 2011 115.(b77 146.910 I".nduMmeni'l-riLSL UI-RC I)io¥L.. ofAkY(kx l.owi ini¥r¢bl in¢i>n 24 1.089 l j?.O8 j i)4 116.IY6 Adiiiinislrnithn ol'iTri'ksini4rt% ubsLYiPLions Grani Pil)'abl¢.' lTht %¢thiish C¥iholic ATchii15 Gront pa%able.' Blairs Ci)Ik¥L CharKI Tru S¥'ows Lijxary. <¥$¢$ LLgal f¢¢5 Vrol¢ssion&l fLXS Attounr). fcL'S 'rhe Judil ofihL chari..5 arUl1 aiCOUllL% 163.84V 156.tsi7} I10.01) {72961 124171 142151 (AJMJI -(3.2101 IYO.6681 This pas¥ ¢kns frm pthofthe financi1 sarL8. Pagi 23