. • John Menzies Trust for Scotus College and Catholic Education **Annual Report and Financial Statements** **for the Y car Ended 28 February 2022** Johu Menzies Trnst for Seoths College and Catholic Edueatioft Contents ReleMc¢ a￿1 AthniniYF41iif D¢thi15 ?w5 SiaiemL*t0fTrUaL￿ R¢¥w￿￿1]￿l¢S Inderaeni AuJitsJrf R¢￿rt 7￿11 S￿leme￿L0t FIn￿¢v￿1 Activilics BLI￿L￿ SI￿1 13 Notesio the Finamial St*m¢hL% 141021 tkwikd ofrinan¢wl ??Jo?3 John MenziH Trust for Seotus College and CAtholie Education Referen¢e and Administrative Detai Trus¢e Bishop S Robson Bishop B T M¢Gee Archbishop L W Cushky Bishop H E Gil Blshop Erneritus P A Morni Arthbishop Emeriws M G Conti Bithop J K*eD Bishop J A To Bishop J Cunningham Bishop W Nolan (die4101112r2021) Charlty Regbtr•¢knn Number sc(n7490 PrlllelpAI onk• Burnett & Reid LLP IS Golden Square Aberdeen ABIO IWF Audllor Cliw IM Ac£ouDtw Limlted Chartered Certified Accoun￿ts And Statrjtory Aud1¢ tlo P Grimky & Comp8Dy Ir2 Kelvinhwth Strt¢t GI￿g0w G3 8PR InveJtm¢llt Advly¢ Charles Stanky & Co Litnited 2 Multre¢s Wllk St Andrew Squa Edinbu8h EHI 3DQ Sollcltorj Bwnett & Reid LLP IS Golden Square Aberdeen ABIO 11 B*nken Lioyds TSB plc 1st Fl( 415 Ulli￿ T•r Aberde¢ ABIO INJ John MeTrziu Trnst for Seoths College #nd CAthollc Educa￿On Trnsiees. Report "rhc k¥¢sL'ni ann￿] TL'Wrt wilh thE f￿aNCI￿ sw¢m¢nts and *￿i￿r5. TeÉxJrt of Ihc chari￿. lor ￿ )LW tnW 21 2022. ObJttih'¢J •od •cifvlilts Objects ThL TNs1's pri￿1p￿t ohj¥¥li%i 1% ID fwjs ¥f(￿h￿s•¢ r¢I18K￿ fui thL LyJtscaiK>n ol'Catholi¢s. ITh¢ m4in sourc¢5 of in¢om&' Irk. dii'i&n& thd from th¢ ¢harity'5 ¢nv¢sim¢nis aiid iwik dL.rrt)s1￿ Tks¢ I￿. pYo%i&' 8rthi ￿p￿1 for&yoinB Lty*iive In llccordancc with lh¢ I"ruA fKx¢l lh¢ b￿. rA)iK'r w mak&. an) ini¢stm¢ots ih¢)' IIL As such. IIK TN51 has Inlys￿.￿ futMl% ¢n and ftKdium risk im'eSEnK.n￿ i.L. ¥￿￿¢￿m¢nI ￿¢v￿li¢S and UK sNi¢k%. '1￿. fund is Mama￿ b) LharlLY %Lank'y & Lo l.imi￿￿ ¥ i'i¢ii w m#*imi%ith8 in¢L¥ne 4 li%il ul. LHpii#I 454JfL'cialion. 'I'hL' Efu#L￿.5 C¥tL'lyll) ￿. mLv41 and ¥thi¢￿ suithlbiy ol'thc sk)cks ith which ini'¥sL 'ThL' John Me￿.le$ public benefil h>. and s¥yMin8 C•tholi¢ ¢du¢*ion in includitta makini i1*ni% Lduclliionil •nd ￿11&￿*1￿ brwjw ¢lv¢bY •dvwKiog ¢du¢&￿n r¢liqion for I bcncfli Dl'¥ se¢iin ofthc publi¢ r4thtt Ihath priv*e thdii'idual Thc inutrcs confim thky h•￿ ￿Mplicd with th¢ wtqu*emenL% ofik L7Arii*s Tn￿ Tfiwesuneni IScotLudl Aci 200J 195 *mendedK in¢l￿1n8 h*viry rewd kn th¢ wbli¢ t*￿*11 by ik offi￿ Or th¢ Swiiish CThari¢y k¢8u1￿0r. ..IthltvemeDts Ind ptrforminct l)urin8 th¢ y¢4r ¢ThJ¥d 21 1'¥bruw%' 2022, thc TrpJ* wniir•AyJ w fulfil its wincip*l obN¢iiK' or￿¥￿n¢￿& Ik. Catholi¢ r¢li8ion an¢J of L4kn1i¢s thm￿￿ rKthi Man4¢¢￿1 of its I￿￿5￿￿¢nI wrtfolio and pmvision orrin*n¢ial suppjrt 10 ¥pTopfiat¢ c￿￿OI￿c charl￿bk. IxHIicL 1-0￿1 in¢om¢ for th¢ y¢af 10 1141.65912021.. £116.1961. This ¢ottyi*d divthnd incom¢ from li%ikyJ inV¢SLments of £137.958 with irtkrtst Lyb r4* d¢w$1￿ and in¢•nK rrrciv¢d th¢ y¢¥r. Tr in¢r¢•sr wmpgrcd 1siilL ￿ r￿l￿r y¢•r r¢I1￿l¥ imrrn4 dividcnd di*rilwiiws lo￿ in￿rE* receiF4S. Durini yt*r. thc Tmst mwk. sionifKahi irkni rAym¢nL% in furthrancr of its chtrithlt PU￿>Sc& Th i￿Ill￿¢d £51,296 Swni$h C4tholi¢ Archiv¢* £L500 RC uf Argyll & 'rk. Isl4'5 and E198.487 10 CNI."T. Tk Tn￿￿¥%% r¢m*¢n saiisf*d Ihai Tn￿.$ hlvt 4pplied 4PpmWi*￿*IY irt ict(hd8n¢e wilh iLI 8OVL*mlll8 th￿rne￿i. Pagc 2 John Menzies Trust for Seoths Collryt and Catholic Edu¢4lio Trusttts. Report (￿nI1￿￿ed) I'olal in¢umL liii IhL )'Lar WAS £I41.659 12021-. £116.1961. Totsl C%￿￿￿11urL. amoun￿.￿ tsj 1325.862 12021= £111.2191. L¥mprising in¥l￿b￿Cnt man*8¢m¢ni COSL% l)r £57.170 12021.. 12&8511. ¢h4riwbk aEIiViIi¢5 or E258.68712021.. t71.4311 al￿ 8overnthtC ¢O%Lg of£io.LK)5 12021.. EIO.93i). Th¢ si8Trilicanl in¢r¥iw' in ¥harilxble ¢i￿￿{lIu￿ Lh¥ gjbwtial Irani LWI.-T duvirt¥ Ik. yL4r iogeiher i%iLh con11n￿d sUp￿t ￿ ollKY appro%￿d LI￿n￿1C Ixmiics. 'IILiS nul*d in A ￿￿L'fI¢ll b¢I￿r Vinson inY¢AffKMs ofE184.201 11011.. suq)lus 14.Y771. T)urini th¢ vrar. r&YliKyl 8Jins ini¥¥rnCNS of 154.497 Ind unr¢•lis¢d gains of (250.440 8¢vin% iotsl inw¢sim¢ni 8ains (if [3￿.¥3? 12021.. £441.105). "I1￿ 8wns morc th&n iillsei Ihe 0￿rdi1￿& dl'r￿11 d re>wl*d in A ￿.1 itttteas¢ ith lund>of £120.734 12021.. L498.5821. Ai 2¥ Tr'ebr￿Tr 2022 ￿j¢#I funds &1 £7.803.88712021.- £7.685.1531. Ai the ye4r ¢nd. fLx¢d asstl valwd ￿ £7.137.971 12021.. £5.447.7741 *rtd bal#nce% lo￿lied •pprDxiM￿el￿ É717.252 th¢ Tn￿.% th¥ yw. th¢ rcmaininl defcnrd Cort$ithr￿10n rri&iin4 kn the FlaMilE¢￿ Avcnw dispos•1 w45 rx¢iv¢d in full •nd s¢cured ihc Rcv Ck*5 C•rdon's wys r¢rAid in full. Th¢ TNsK¢s ar¢ sa¢islied thai Ih¢ Tru* r¢ffl•ins in a suvr4 financiKI position wilh ad¢qya* li9uidiiy its on8oin8 wmm1vncntsrA￿ ¢lwithbk ob￿liv¢ Pl•J¥ for f¥lBry pevlods Akns k¢y obj￿1￿￿5[￿rI￿lm1epIr14 TrllMccs in*nd w cottlin￿ Ikir PDliw' of fflllinthinin8 a dii'ersifKd invcsthi¢ni pmf01￿ in order to genera irt¢ome Ind c•piMI 8wowh the chwimbk tht TnuL The Tnw will wniinw w pwvi& finwKi•l •s5iA•ntt ￿ •pwwi•* C•knJli¢ charit￿k bodi4 includin8 SUp￿rt for Ind ￿h11.11 FwAry41*)n. The Trust¢s notc th¥E thr thf¢ryrd ron5i&Nion arisiry from thc Hamil￿ Av¢nu¢ di¥wil ha5 IKYn r￿el￿d in full Ind th¢ ￿)cIa￿d 15 compic*. While uplift may coniinu¢ (ts in re¥￿1 Lif the Blthirs dLVLlop*neni As fwth¢r tkn pnTr4r¢s% suth dynthnl QD &b¢lopm¢nt miiesknrts #nd market wnditx) The Tr￿e£S will ¢oniinue ￿ rmniwr in¥4*sun¢N Wro￿91￿¢ ¢los¢ly and r¢%'i¢w gr￿ wmmiiments in li8hi uf intome Icvels xrMI C•PiLal VOiTrth. ¢n5win8 TnJA r¢mwns fiNn¢ially ￿ Mthile fuifJlliTr8 ILS dwiEthlc obicctivc* Sirntiiir¢. *nd Th*Ai8emElJt John M¢niIcs'fru￿ lorS¢oius C'olltgL Catholic Eduwion 1$ 4 frwi ¢Mbli4Kd by 4 Tnw DE¢d in 1855. 11 is a rccoBni*d sC￿li%￿ chariN Isc0274¢A)I. PaBL 3 John Menzles Trns¢ for S¢olus College and C*tholie Edueation TThste¢s' Report (continued) Neil. Lrustccs arc llwjl￿Trd h} Ik ¢xi&ir•8 4tyJ thcrr is ￿lliCul￿r qva11fK￿NjTr IIoii'LILr. the Trw ha% ITrT maThy i'¢aTs folktriird ￿. ¢usrom orawm￿S as a ani'onE ivkn is Lk￿.9[¢￿ Lh4 tmisiiiun Of0￿ L8tholi¢ Ri* of Stoiland. ar¢ 8￿r¢ ol. IhL'ir thJiii% I￿] r¢4xm%ibili*s in ￿l￿[lon w gov￿aTr￿ and fimnciBI oi'ersiuhi of Ihe Chlliily. ThL IIvdTd of IMlf¢ * )"t4r w ￿minI￿V th¢ ￿11.111￿ of ilK' Tru*. The hdi"& the di*cTL'LiiTrn w dcL'i&. ho%4 Lk. inLY)rn¢ ol'th¢"fnJy can IK, applied ¢0 mL*L ubjttLiVCS DI'IIK. TnLSi and arc Lmrrtiiv¥￿4 uny wnion of ih¢ for the main*nancL' of the TrnsE ftsnd. IThL' da). EO d&y fflNintLn*n¢¥ orth¢ ol'U*. Trux is FItsrnL'lI & Reid the I'ruM'$ ￿1￿110￿. ObJetilv¢x •*dpolkl4s The ¢h*riiy's acri%"ilits expbSL' it nUm￿r￿[r￿￿Klll risks includin8 ¢redii risk. risk li4uidiiy vl$k. Tk us¢ vr [￿￿￿.*1￿¢S is by th¢ ¢h•ity's pK)lit￿5 *pryoved by ol. thiwAees, which pmvid¢ ivrir*n pri￿lpl¢S on thc us¢ or rin4Dchg1 d¢fiv•ti¥es ihese TiskL The ¢lwtiiy d￿$ tttyt dL'rivaiive fInH￿ill inJtrum¢n¢s for Jpecul*ii* PWPKb C•s&J7Lw rls* Th¢ ¢hJrii) s aaivili¢s il winwilv ￿ th¢ fm*n¢i•l li￿$ of th￿Be$ In r￿ClIM tun￿¢Y c¥¢h￿￿L. r*$ and ¢n1¢r￿ r1*5. The Chwiiy ￿ lorei8n e¥chan￿ lom*d inlcrtsl I￿1p COIILrncts lo hcd8e s¢ ¢kwsur¢s. Inter¢A bc¥rin8 IiAbilli￿$4r¢ fix¢d c¢rniNy ofc&%h tlo Th¥ &h4riiy's prirK1￿l finun¥iol hnk b41¥￿¢$ ¢ash. tra&. ￿hLtr rL%i'tv*bkn Ind invL%th)¢nts. Th¢ dwiiy's c￿11 risk 15 primaiity iitrih¢*ble ￿ lis irndt rteti￿blt$. ThE *thouhi% prcxtrt￿d in rhe balan¢e tk*i of olkni%xntts for dou￿(￿1 rtttiv*bk& An alh)wanc¢ fur impairn¢nl is m4&. wh¥r¥ th¥r¥ i¥ an tdtntificd IDss tvcni ￿kn1¢h. trMsLyl pwE%ious exwiLThX. 15 ¢vidvntt ol'¥ ID th¢ r¢¢ov¢rknblii!' ol'thc Cash nowa. Th¢ r￿di1 risk on Ibquid funds ￿ d¢viv¥iiv¢ finwKial ins¢rum¢nts is limi*d b¢¢aus¢ th¢ counwK￿ ir¢ b•nks iviih high cr¢dsillrn¢ings aw8r￿d b). iDrcmatiDnal Credi1￿317￿￿ 4￿C•C Th¥ ¢hariiy h*s M Sianif¢￿nI &Y*Jil risL Wryth exp￿¢ spreml over * Iw8c Mmk'r or ttyJhieipirtiLS 8nd custome Liqwidlry r*51 In iink'r ii? mainuin li4uiJii)' tsi ¢Thsur¢ funth ar¢ ai'ailabk for on8oini 0[￿r￿1￿￿% fuiw¢ de￿.10PM¢nI$ the ckniN' US¢$ a mixi¥r¢ortong4emi and sJMJrt4erni dcbE fin￿(¢. Furth¢r &uils r¢8ardin& li4uidii) ¢•n Ihc Sth*meni ol. a¢counitn8 ￿lIcleS in ihc finoncixl sthtcmcnL*. P4e4 John Mtttzlts Trnst for st￿￿$ College #nd Catholie EducxtiDn Trustees, Report (Continued) DiK105ur¢ ofinforniitioo 10 %￿ditOr r.alh Irust¢¢ has tsk-l'n slep> Ib￿ ihc> oughi 10 h*i'¢ tsk-en Is order ￿ mak'& thrn'lv¥$ ofan>' rrI¢1'￿t audii inftsrni#￿Tr wyi 10 ¥Aabli3h thai th rh¥riiy'$ awjiwr 15 of IhaE int1)n￿li0￿. truslees cvnfirrn lh￿ Ikr¢ is M r¢lcvani inlonnaiion thw they knowofand ofwhKh th kwii. thL' audiior is www4r¥. RtAppolntmenl of Audilor 'rhi audiiors Clict)ts 1st l.Mi*d &*mLxI *'¢iion 441 l Mcl of lh¢ Lhitii¢¢s and TNs*e IScL#lxrKI) Ati 2025. ' annual rewn IpW￿¢d b)" I￿L￿e¢S of Ihe L*￿try 17 Nl¥¢h 2026 *wJ b¢haifby.' HI￿10P H TruA¢¢ Gilbert P4e5 John Menzles Trust Scotus College CAtholi£ Ed￿estIon Statement of Trustees. Reswtyn5ibillties Th¥ IfiiAi%s arL' rL4rrf)niiblc fvr PTL'paring LhL InisiLL< rLwrt llnd ihc finuncial stht¥'m¢nis in JLcDrdan¢c ii.ith Ihc Ilnlitd Kingdoin ALc(￿ni1￿8 Stsndards Iuniled kingdom C￿lle￿Il>. Acccptid A¢¢ouiiithg Pra¢is¢tl atyj appli¢ablc lai%" dnd rcguiaiions. Tht laiv appliLablL IU LhariLILS fLyllir1. QualilK4d Opinmm on Ih¥' linan¥ial In our win1￿. L'%L*pi for the cifLLL% ofthc Ma￿y% J¢sull￿ in ihL' Bftsi% fur Qualif￿ Opinion pMt4rnpK i rthHrttial 811'L' a trut and fair % ofik. 4*￿111"￿ 28 .WL? ufLlS r¢%uh% li)r Ilx" }¥ur Ih¢n ¢n¢k.d: nd h4%¢ pr¢p4r¥xl in iiiih ￿N￿l￿.￿lents Ol-￿￿. CThqriiiLS ofMI TrustL¥ lrtix¥thieni I kx)Ilundi ALI 2005 r&Wul￿￿)t1 B ofihe Lhthrii￿ A¥WMLn￿(S￿1￿Thl) Ei¥8ukniiins_¥Mh l Sl%thlflt*ni ddx) in Pr¢￿r#i10* of fin*o¢l•l s¢•iemeo Th¢r¢ was a subs¢amiial del*y knliix'n firtartcitil )'¢*rend¥rwJ th¢ [￿￿)n ofih¢ fMwn¢iNI Aakm¢n This r¢sulted in redllLYd *v&il•bility thf¢4m*mpvrl￿0u$dQpa￿￿D￿1i0n &nd ¢xplanaiion& wuducin8 ¢*imai*Jn Y￿¢¥141n[l, 4nd ¢vwJ¢niilll limithiions. Llmlled Inform*iS•o m#dt *%'*ll*ble ILlmh*¢lon or￿0Pe) AccL*s ￿ &e¢ounlin8 Tecord$ ind supr￿1￿1 do¢urn¢n41ion In￿Mpk￿. Cuthin 8￿1 p￿rn¢￿t d￿.￿m￿n￿l9￿ and un&rlyin4 r¢Ar1￿1n& our abilily w con¢lud¢on comple1￿1& dlrvl lo Trui¢¢¢s W¢ had no dire¢¢ ¢ommuni¢aiioth *iih charycd wthlc wriii¢n reP￿￿n￿l￿*nS dirn¢ily Irusices. All w•5 thrwlh ￿ Try*'$ l¢B•l wJviKn. limitin$ uur ability lo mak¢ in4uiri¥& 8oviYnwbC¢ ov¢rsi8hi. and ¢oTrfinn ¢omple*rKss of disclogJT¢S lincludin8 ￿ll￿d pmKsl. The rn￿*1$ r¢wl*d in • limiiwN)n of¥Co￿. k¥dini w • g￿lIf￿d •udii opin*)n for th¢ ycarcnthd 21 Febnbllry 2022. Pa8¢ 7 John Menzies Trv5t for Scotus College And C8tholic Education Independeni Audlior's Report to lh¢ Members of John Mentie5 Tru$1 for S¢otUS College and Cathollc Edu¢Atlon (contlnued) C.'on¢lusion$ r¢latinA io concern As part ofihL dudii ul'ihL' fin¥nciul SlalL'mL'nL% lor IhL' )e¥r L'nik.d 2H fL'brudry 2022. WL. L(Trn%idL'rL'd thL I-rti$li'L'< cgsmcrtl lif IIK. I'rn%i'¥ llbilil). Iu ClXiLinuc a Boing LoncL'rn. ￿￿C un&bli iii i)hidin an) r¢prc5¢niaiii)n¥ IrfriD IhL'I'ru%ic¢s rcBthrdin8 Boin¥ Accord¢n8ly. t%rfom¥d uudii includin8'. '.xuminJiiury vf in%'¢¥tsnLnt hulding4 4iid posi YLur ind ￿n$￿¢t%)n$ ubsLryniiv¥ I¢Sltn8 1)f4iailBblc infTrrrnaiion. aLLruals and major inuiffl¥ ond ¢xpcndi¢u￿ ii¢m%. Ilu¥¢d uo ihL' ¢vidcn¢¢ uh￿l￿d, WL nvi i¢JLnlif￿d anv rnA¢cri41 unLcrt#inii¥A Ihai could L4$1 8i¥vilic401 douhi i))) UIL l-lu￿,% llbilli) Iii coniinuc as a ui>in¥ Li)ncern fur 81 Ic&81 ti%ilve ni¢Trnths froin iilK'n Ihc lin8n4iol ILm¢nL% wcrc Authorix.d fi?r is$￿. 'fht finJnLio1 StsL*mL'nis haiL hL'LYI preprL'J ott a Boin¥ Loneem hJ$i %thich ￿)￿s1￿￿r 8ppriwr*8￿. Other inf(brmAlion pari ol. our audii i)I' IhL finan¢ial sthicm¥nL4 hll￿ rC%.i¢%￿rd lh4 ijihir infonxaiion includ¥yl in thc onThual rL'porL yiili¢llll> Ihe'lNsiec< Ri'piirt. Thc fNM¢cs arc N'sponsiblL' for th¢ oiher infvmiaiion. opinliin oft IhL finan¢ial %th(emenL% doos noi LIlVL'f Ihe othL'r infotmttiiun artd. ex¢cpL thc ex￿￿1 Dtherwis¢ ¢xpli¢i¢ly ¥iu*d in Iiui rewvL we do nol LxpfL'SS lliiy lorm ol'*8surynL'e conrlu$ion th¢rcon. In ¢onneciion iiith our &udti or￿, tlllonciil S¢Altmen￿ our rL'sponsibillty Is to r¢lld the oih¢r inforniaiion. and in dtrinB yo, LonsidL'r wk.lhtr tlK' uihL'r informaliun is mui¥riilly iftwn$i%i¢ni wilh IhL finllnciul siJi¢mLnL% or (>uT kn(kwlcd8¢ obthin¢(J in th¢ audii or otherwix appcars 10 bL' maKiri•lly Missm￿d in Ihe finat)Li41 SthlLmen or ll m41¢rial miSs￿lemen1 ofihc oiher inforni*iiob. Ir. bmsed ort ihe work wc have PCTfornitd, w¢ wrteltsd¥d thlli IhL'r¢ is ¥ mllK•rial missla￿m¢nL ofihis oiher infom1*140n. K. ￿ requI￿d w ￿p￿rI I￿. faci. W¥ havL nfrihini w r¢wrt in this r¢84rd. Oplnlon OA otherffi*ll¢rJ It) ouiopinio¢>, un ili¢ work und¢rlak¢n in lh¢ cour¥c pfihc 4udii.' infcimiuii()tl gll'L'li in Ihi I'ru&lL'e%' RLyTrfL for liiiHK'i¥l }¥ur Ivr ￿hILh lh¥ fiouiiLiul siu*Th¥iiis pr¢pur¢J i.¥ ¢oniiilLni i%iih Ili¢ linun¥È815IUl¥m¥nis'. lind Tw¥*¢5' R¢￿rI IIu5 pr¥poT¢d in 9￿0rd￿nly iiiih 4pplirobl¥1¥8al r¥quirL'Iii¢iiL%. l*iitrs whlelj we ￿rt rtqttirtd io r¢porf by ¢x¢¢plion In Ih¢ li8ht i>l'i>ur knowl¥d8¢ 4nd und¥r514ndinB ofth¥' Churiiy and 11% 4'nviNJnmini trbiained in coll￿ ol'tht udii. tAK. liave noi idL'niili¢d ma¢¢ii41 missi2tsmL'nts in Ihe'l ru5tses' R¢port. P48c 11 John Menzles Trust for S¢otu$ College and C*tholl¢ Edueation Independent Audlior's Report to ihe Members of John Menzles Trust for ScotU8 College and C*tholle EdueAtion (eontinued) We noihing w T¥wri in r¢¥rt¢L ul. lh¢ f01h)￿nE m¥tl¥rs lh¥ CIL&riii¢s 'l'ru*C¢ InvL%trncni (Seoilllndl Aci 2005 and ihc ChATiiiC% ArcounL% 18coilandl Rczulolio￿5 2n06 1&5 H￿￿￿41¢dI requires us LO rcpori 10 l'ou it.. In our ¢)piniun' J¥quiii¥ u¥¥ouii¢1n￿ r¥L¥irJ% liiiil nui k'¥ii k¥pL iir r¥iuni% l(Ir (>ur uudii Iiu%'¥ ni)1 ￿'L'Ll￿￿'￿ Ironi brunclKs lloi i'iSilLd b). us: nr Re5PCCtlic ruponslblllilo% nftTUJteeJ AudlioT5 This r¢rrf>ri 1% wlcl). Iv th¢ Chariii s Iru%iLXk as 4 bjd).. in uccon15mLK iliih ￿¢110n 4411 I c ofih¢ Churili¢J and Tru*LL Inv¢sim¥'ni I%Loilandl A41 ZOU5 and r&'pori in ac¢ordan¢e ¥viih the ALI an¢J rL'kvani T4gulaiiuns mlld¥ or huvin8 offect Ihi'¥L'under. Our M(>rk. liths been undLirtdkL'n so Ihlli we mighi Mth¢L' w ih¢ Irnth*L's Ihose mailers ive llre rL'quirL'd io 10 Iru¥iL'L'% in ttn audiior%' rL'FM)ri liir iio oiher P￿r￿se. 'I'o Ihe lullL'%t L'XiL4ni p¢rmillLd by l#w, 15¢ dv noi urLxpi or aMumL r4spull5ibilii) w 4nvonc oih¥r Ihun thc ¢huriTr' llnd its trusK'¥% 4$ 11 body, foiour audit ivurk. for this report. oi liTrf the opinioftA 14r hai'e frmiL'd. As e%plainLd more fully in Ihe StaicmL'ni cil I'rusice.s' RL'sponsibilLIiL% IiLbl oul on paic 61. the irusiLK'% ¥re spons¢blL' for Ihe prepa￿11)n uf Ihc findncidl st8lL'mLni% for bcing 881isfiLd ihai IhLy g¢Ve a IruL' ond fair view. W¢ Iwv¢ bcrn 4ppDin￿.￿ ￿ yudiior$ in 4¢curdaThLK wilh scdipn 4411 I c ol. Lh¥rili¢s Ind I'r115¢¢¥ Invisim¥•ni IScotlan¢J) A¢( 2(KJ5 ￿'pUtt ITr aCCLwdun¢¥ ￿'1{h thL' A4¢. Our N'srK)n%ibilii> is iu ¥udii lh¢ linanciol silkments in a¢¢ordonc¢ with tspplicable l#w #nd In*maiion¥l Siandards ort Audiiin8 IIIK 4nd ITclandl. Thost siandxrds TL'qUiTL' US io rompl). %4ryih Ihr AudiliTh8 Pr￿1¥￿% B￿0Td,5 IAPT4'$1 Lihii?I Sijndurds tor Auditors. S¢opt lh¢ #udlt of the nrti#tilll statcMB's WL'bsilc it OUT ￿)¢Ll11.¢5 ar¢ 10 obiain r4'L%(mablk assurnicc aboui i￿1¢th¢r lh¢ finath¢inl Sta￿￿¢1)L% as 2 whole aL. free rrom m¥LILri*l missiaiem£ni. W.h￿hLI duL' lo fTiud or crruT. li) i%$u¢ an uudiior'.4 r¢pi)n thai in¢lu(k.% Triir opinion. R&￿IDn8b1¢ a$suran￿ 1$ a higli l¥vLI of a55UTon4L' bui is ntsi * guaran(¢t an audii ethnduLKid in ord*n¢e wilh TSAS IUKI ￿-¢I1 al￿.￿￿$ ￿￿1¢,¢1 u Mo￿￿1&1 mi%si#iemL*I whL'n il exi%is. MISSt￿leML.nlS llrise rrom fmid and ern)r arc ton$idLred malL'r1￿1. if indii'iduallv or in lh¥ a98r¢84￿. I￿Y wuld r¢Hsonabl)' k. expccknl ity innuence Ihc e¢unomiL dvri&iiTrns ofusers un ihe bllsi$ ofrhcse financilll StslLmenL*. Irre8uIRTiiiC& in¢ludittg frau4J ar¢ inswi&4's ol'non- eomplian¢e with laws ind re8ulo(iun& We desi8n prvc¢dures i¥L lin¢ with our r¢¥wn5ibiliiiLs. ouilinL¢J uhivl. ￿ d¢iLLI maiLrial mi%i¢4lL'mLnis in rL¥K*I of ineBul4ritic& in¢ludin8 fraud. The Cxlcni io ii'hich our PNILLylur¢5 arL' of &.tL'Llin8 irre8ulaTIIILS. includin8 linud. is d¢thil¢d P48¢ 9 John Menths Trnsi for Scolu5 College and C*tholie Ed￿tatIo Independent Aydltor's Report to the Members of John Menzies Trust for S¢otss College and C#tholi¢ Educ#tlon IfontiTrued) We obiuined •n und¥￿nding of th¢ k8*1 fraMc￿l)rk. thllt appli¢¥bl¥ th¢ entiiy and dti i&yiiify non wThpl1￿¢¢ wilh Lh14ivs and rL'gui￿lons idtfililied alxTr%¢. Tkn￿ [ff0￿du￿s in¢ludL . J¥rLrinenL ufthL' finllnciol yt4l¥Yn¢ntsdi5¢kwr¢s ￿ un&'iliina SUAYOrtin8 d(K*m¥nwiw)n . rnAkin¥ apprLbpriaiL ¢n4uir¢¥% ufman4&YIILYII . rL'wi¥wiil'mirtutcs ur rr￿. mceiinp" LhTW8knui th¢y¢4r . Dbiainin8 an Un￿.r￿andl￿¥ nfthe con¢rol cnvironmcm in mniwtrin$ wmpl11n￿ with aThd rkyulaiions. W4. ¥lw consithr¢d th¢ rijk or rIW￿ thrD4lL m4n4¢mm wnwols. and ￿ T¢spJn*. f¢¥i¢M*l rinanciil v¢cords for VmL¥Jal or withow • S•iirf•c￿r¥ cxp1aMi￿n. Nu idL'ni>fLd. This ￿P)Th i4 rnwk sol¢ly ￿ IIK. Tr¥a's nK'rnb¢Ys W. in a¢¢iK&nce with Lhc 44 111 1¢) of Ih Chariii¢s and I'n￿ Irtveaun¢￿ {Scod*t￿l Ati 2(KlS lryu￿bDll 10 of Lhwiiic5 A¢cuunts (S￿111￿di Re8ulaiiMs 2LIJ6 1•$ wntthl. b¢¢n wi&rwk¢n ￿ I1￿ ￿ mi8M sla￿ 10 lh¢ MI￿￿￿t$ maiicrs wc tre r¥wuir¢d w S￿1¢ w th¢m in ￿ •udithr > r¢yi Ind for oth¢r pvrpge. To thc fullesi exL¢ttI mii*d by law, nui 4¢¢ew rtspK)nsibiliiy thth the TA￿1 truy¢¢s Is a body. for UIIT audii or foi lh¢ opinwms ￿ hAvÈ ￿mie P•84 10 .lohn Trlcn•.ics Trust for.S¢olus Collegt and Caiholic F.ducaiion Ind¢pendtni Audiii)r'5 Reporl to the %lenilTrers of Juhn I1Lni.ic5 Trust for ScotU5 CtJlle¢p¢ Jnd Caih()lic F.ducJtion Iconiinuld) ('hJfijfkd ( ifTiliid ILIL)uniJnr% and SiaiukTrr% .ludiEors 17? KLlviiihaugh 17 IlarLh 2076 Page I John Menzies Trust for Scotus College and Catholic Educatlo Statsment ofFinAn¢i*l Aetivities for the Year Ended 28 F¢b￿￿ry 2022 1 *ft51rrirl 2022 Invk4im¥ni in¥om 141.6511 141.659 I'ibul 1¢K￿m( 141.659 141.644 +'*prudilurr ott: InV¥￿1￿￿TrI ma114¥¢nKni ¢05 L'h4ritablL' lleiiiiii¢> ?51.6871 I IV.(￿5 1258.6871 I IV.(K15 1.125.¥fv?I 31J4.Y37 {3?5.86? 120.734 NLI nitr*LmL'ni in luiiJ¥ 120.734 121J.734 IltcunclllailoTh of fvnd Ti>&LI luiid* brtsu81ii lon%arJ 7.h15.151 7615.153 Tviul lunJ$ ￿rrI¢￿ lonwd 7.805.887 7.#05.887 I'•r¢Jlrkt¢ fynd$ zozi Ineome #Ad from: nv¥%Ein¢ni iniom 116.1 116.19 Tuthl in¢Dme 11&196 116.1¥ F.xptndlture on: R4¢4iTr8 lund% L'hlliiiabli ULXlI Iti¥ 128.851 {2%.851 } 171.4331 10.935 10.935 Ti)LJl L¥rrtiiJiiuT¢ (idin410Sx'% Ort invL'XLm¢nL 13 441.105 441.IlJ5 NLI incomL 446.08? 446.082 Uth¢r r¢¢oiRi¥d Jos l)IhL'r ¥ain%llosses 515IMJ 52.5rrt> NLi InosLmLni in f¥ndtr' 498.58? 498.511? RecDntlll*tlnH offunds 'luthl lu1￿% hn>u8hi libn%ar 7.18&i71 7.1¥6.571 "luiJl lurnls L-afTiuJ 7.6ts5.153 7.685.153 Pa8L' 12 John Menzie5 Trnsi for S¢otus Colltge #nd C*tholle EdU￿tIon {Regtstratlon number: SC027490) Balance Sheet *5 *128 F¢b￿￿ry 2012 2•22 9021 Fix¢d ass¢ 7.117.Y17 5.447.776 C'urrtni asscts 1.70.1 1.-177 22.53 l.oan ￿￿.￿¢11￿bk... Lhavk.4 (iofvjvn s Truil r)elLrred C'onsidcraiion ￿￿￿liab￿. Ilamiliun lash oi bank wid sn Iwid 10 717.?57 711.955 348.503 2.)112.$77 LredltoN.' f*lllA% wlihln th*t )t*r 50.9HS 45.21)0 t4 ¢Brr¢n¢ h7.¢)7LI 2.237.377 7.80J.887 7.685.153 Fuqds ofiht ¢h*rfl)': I'Dre¥iritt¢d intow¢ IInrL.￿r5ckn.d fuThls 7.1115.187 7.615.lJJ I'ol*l 7.805.887 7.685.153 The fininci•l Mttemcnts on p8¢s 12 10 21 KY¢ I￿0¥¢d ￿. IIK wthoris¢d for iJsuc on 17 Mlrdh 2026 and silned their Ixhalf b}.. Blshop 11 E Truth. Thc no*son p•8¢s 14 10 21 fm i1￿e8rd1 w ofthKsc fin*rtGi*l thlLyncmtS. Pa8L' 13 John Menzie5 Trust for Scotus College and Cathollc Eduutlon Notes to tht Flnancial SIAtemcnts for the Year Ended 28 Februar) 2022 ¢cuuntlTrg poll¢l¢% .Si*iemeAI fjftompliAnet 'I'h¢ lirtantial SllllLmcnLS liJv¥ pr¥pdr¥d in a￿ord￿nly %4'iili thpplii¥b1￿. 1ln1￿.d Kin¥dom aLLDunting sMndard*. including 1.inJncial R¥￿rtIng %iundord 102 IThL' blnathiithl RLpDrtin8 %iandani applicllhlL in ih¥' IJK nd Rcpublic ofirclund. Mnd th¢ Churiii¢$ 5IIILmcni cifR¢commLndcd Prnciicc11."RS 11)21 is5￿d in Jul) 2014. 'I'he uLciJutsis liuvL uls(> hLX'Ii VYLp4fL'd in aLLI)rdllllL*' ii'iili i]k' Ch¥riii¢% Trn$￿e Inves¢meni IScthlBndl A¢1 2005 and IhL' Charilit% AccounL% (Scoilandl R¥Kulaiion5 2U06 om¢ndedl. prep*nLiIo Juhn MLll/.IL'S Ir￿1 l(Ir SL'olus Lull¥K¥ and Laiholic l.'duL41ion mL'L'ts ihL' deliniiion ol. H publ¢L IK'nL'lIl ￿nIllY uidLr I".R5 IU2. ThL ILIOUlli% Ilitsun¢inl stsLLL'mLnlil l)TrVL' bLLn prcparL'd undcr ihe historical CO51 CIJNVLniio 'i(h ilLms N'Ly)8nigcd Ji ctrsi ur Ironwiion Y4luc un1¢$5 o1hcrwi5C in Ihc rclovani no￿($) ￿ th¢ Ll)unl%. Tho Ir￿￿¢¢5 cTrn%id¢r ¢hui lh¢￿. llr¢ no maiL'rial unce￿illI1¢8 Ibolli Ihe th¥riLy'$ ubilily lo ¢on¢In￿ ￿ 4 Intomt endowmtn DiviJLnd$ ￿￿gniZa Oft￿ th¢ dividcnd has IK'en dL'¢lortd llnd noiifi¢oiion has been received of the dividend du¢. El￿ndIt￿r* All LxrrtnJiiu¥¥ 1% rLXY>WTht%d i)ni¢ lh￿￿ 1% u 1¢8uI or ¢i￿sIr￿¢11￿, i>bli84llUD 11) thHI 4￿Xr￿￿di1u￿', li 1$ probubl¢ ciIILmL'nl is fL'quircd Hnd Ihi Jmouni cun ￿ ffl¥4surl￿ rcliably. All or4 &llocaicd 10 lh¢ appl¢¢abl¢ 'xp¥ndiiurL h¢ading thoi u¥8ri8ali similiT Cfrsls iu thai c81¢80ry. cusis c¥nnoi bc direthly oiiribuied 1li¢ulor l*gdin85 IhL'y hd¥L' bL￿'Th allD¢*K.d on ll basis cunsislL'nl %i'iih Ihv ul. Tesuurres. wilh cvnlral %i¥ir )SL% ullo¢¥lLd on b￿*1$ ul. iimL S￿nL und dLprc£iwlion char8LY alloca*d on the portiDn of the &55¢L'5 USC. Other %upporl eosts are alloca￿d bascd ¢)n the SPTcad of￿11r¢0$1S. R4lslRgfu￿dS ThL'K' 4rL LU$￿ iniurrLd in 4iiNciin8 I'iTrlunw thE rnana8¢mcni of inv¢sirn¢nts and ihosc inCur￿d in irndini aciii'iii¢% Ih41 rnisc funds. Chfjrliuble ffcilvliles Charii*bli' 4'xV¥ndiiu￿. ¢(impris4% ihtyx. by th¢ ¢h8TiiV in lh¢ dtliv¢ry ol. its a¢itviiies services rw li% bL'n¢fi¢iari¢* li inLlu(k% bi?Ih LOSIS Ihai ¢an bc allocaid diKcilv 10 s￿￿ aciiviiics llnd thoK iums ufan indirLLI ndturL' IILYLSsary lo suppun ￿￿.￿. Gr*niprovlslon5 Proi'i%tiin% fur 8nmL% ar¥ m4(k' Ivh¥n th¥ in￿.￿1￿1￿￿ w mak'¢ 4 Jir4nE hus &'¥n wmmunira*d io th¢ r￿lpicnI bui Ill¥￿ ￿ unLwwiniy *bou( ¥'iih¢rilii iimiD¥ ol'ih¥ ¥rJni or th¢ 4rnouThi o1.8rRnE payabic. Page 14 John Menzie5 Trnst for S¢otys College and C*thollc Educalio Notes to the Fi￿￿￿¢181 &a¢ements for ¢he Ye¥r Ended 28 Febrn*ry 2022 {continued) Ciov¢rn•nr¢ ¢os¢5 The￿. in4lyJ¥ th¥ ¢0sts thc ¢lurip' s Compli￿tt Iviih consLiELrtM)nai #awtor). in¢ludin8 g%vJiL ￿ra￿lIe meLiin8s Ind ￿1mb￿r￿de¥￿$1 T*x#tiry nK' ¥h4ri1i' is from ors its dWi￿b￿. a¢iilii¢i¥ Fixed &%CLS hivovir411I' I￿LU￿￿ 41 thc v41y￿l0￿ 8iv¢n ￿ th¢ lim¢ of th¢ir inwrpvwion inw ilK' rinan¢ial in 19W. Sult*4￿￿4 od¢Jiiions ar¢ irt¢lty]Ld a¢ Deprt¢i•llon *n4J *M•rti￿￿ rx'pr¥xiiiion is ithsibk. f￿%￿j ¥J Mnt¢ orr Lk. or iyly*HJn. Iw 4ny utlrna￿d r¢51d￿l v&hJc. over Ih¢ir ¢¥￿¢*d u*ful eeohomit lifc f¢dknis.' Freehflld ￿lId1r￿S 2% prr 4nnum LI￿ndIN￿¢ on fixcd is{¥1￿11$ed is m•*riil w th¢ fin1nci￿ Flyed iHet Invtstmt*ts IX￿ asset invcstmcnr& pru8r¥mm¢ w¢l*d 1nvLyimLM￿ •i' th¢lUd￿ ￿ m•rk¢i y41￿ •¢ b•lan￿. 9htt¢ d4K. R¢alis¢d y¢ns and losses OTh invL'SunL￿ts ¢•kula*d AS diff¢rtn¢¢ sales prp¢¢¢ds IL Ih¢ir mark¢i valu¢ *1 I￿ stsrt 4Trfihe ye*r. or I￿1r subwulwi ￿$L we th￿ed or r1rd1￿ ￿ th¢ Sw¢m¢DI ofFinffj¢iAI A¢ii¥ilits in ofdi5kwL LJnr¥•lixd yins ond lossu 1¢pr¢s￿l ￿ moveftKm ID mwkei Y￿u¢S thirin8 ￿ yw rrvdi*d or c1w￿d 10 Ihc Swcmemi of Fin4M'i•l ALii%iiKs th¢ markei ¥4lue al ihe yellr￿d. &%xei ifivc$irn¢nts •r¢ uKlu&d ￿ th¢ of¢oA rr•lis•blc v•luEI ¥￿￿¢. L¥sh ¥Dd ¢•ib ¢quiv•kots and cash equivslents WL hwMI ￿11 thp)si￿ and o¢h¢r strw)rt-*rni highly liquid invi¥im¢nis Ihul arr readity wnv¢nibk ￿ 8 *mmthi of all￿ arr sybj¢ffl insi8nili¢ani risk or chaw in v*lu¢. AorrtyM"In IniL'fL'M-kATin8 bDrrwngs ¥r¢ initiilly re¢oTthd Ji f¥ir v¥hK. of Cos￿ Inier¢st.buNh& bprruivin8s ￿ su￿-q￿¢nIIY c4rFi•J ¥L 4mibrti%tyJ iwih Ilk, d1￿c[C￿Ce IxiwL*'n thL prvLxYth. n¥1 ol. trnnsaeiion ¢0￿ the 4muuni on reknoion kin8 r¢¢w•ig¢d *% # dwBe w thE Sutcmeni ofFin•n¢i*l A¢ii%'iii¢s over Ik. rKriod of Ihc rclcvmE knrniwin 15 fcwBni5¢d Ihc 1*sis of the Intrre￿ •NI is incluthd in int¢reA wable and *milu ¢har8¢S. BorrnwryThBS ￿re ¢lts$if￿ *s liabili1￿% unlcss ￿ cl￿￿￿. unwndiiioml righi ￿ drfcr *ttlEmeni ur Ihe lillhility for tr￿1¥£ moftEhs AfleT ihc r¢wKtin8 PJ8¢ 15 John Menzies Trust for S¢otus Comete Catholic Educxtio No¢e5 to the Financial Staiemettts for ihe Year Ended 28 F¢bTU#ry 2(122 (continued) FuThd stru¢lure Unrns¢ri¢K'd arL' 8CrteTal or¢ availabk for use * thc tr￿Ce4 dw¢Eion in furth¥rw of th¢ objectivcs 01.￿ dmriii.. D¢S1¥Ni¥￿ fU¢￿aN. unrL%iriLted t￿15 ￿.1 lor¥*YifJ¢ the discrL'iiM ol'the IrLLStLeS. Resrricknl lunds can only for paniwlar T¢afitxed pwpJsEs uiihin the ofik cknrii!.. Restri¢iions aribc i%4K'n srrtcificd h). Ihc donorur fun(Ls arc r￿1￿•d for particular re￿ri￿¢￿ pwrA Financial iDSirnrn¢a Clossificoiit FinJn£ial as*ts snd fiRancial liabiliiits ￿ rec(¥nixd th¥. ¢lwity a pany ￿ thc contra¢iu¥l pmvi.4iiin% ¢Jfthc itwrym¢fti. Finaneial liabili¢i¢s ar¥J eqvirn rnsrrun*nL% arc cl*tsif￿d according w th¢ yjhstsncc of Ek. contr¥Eual arranBl¥d pric¢ fi￿ un id¢niical o.4siI in uilivi mark'il. Wh¢n q￿¢11￿￿1 pri¢¢ irL unai'ailahlL. ¢hL pricc ul'o rL'ccni irllnN4Lti()n lor an idcniicol a4￿￿1 pfi)kidL'i ¢vidctt¢o o( lair ¥'0lu¥' 0% lun8 as Ih¢r¥' h45 nibi iK'i'n a sigDilsLJni chtsnui, jn L*onomic Lir¢um%lanLL'% iir u %iunilicini Iup8L' vl. Lime $irt￿ Ihc Ir4n%nciiLin Iwk pla¢¢. li. Ihl morkei is noi acit¥'L' und rL'CL'ni Iransaeiions oran idL'niiLiI tss*i on IhLir are tt 8ood c%rimi* offyir l.y1￿. th¢ f4ir vJlu¢ is ¢s1imu*d hy usin8 B valuiiivn w¢hn¢quE. I INI'e51ment Intomt I hr¥sirl¢it fvndx fund* tX.posii aceuu¢ii In￿r¢ Dii'itJLnd5 ￿¢¥11%.&. Qiliir intoinL' from Lurreni U%¥L'I invLsi¢n¥•lllS l..ndoivmcni'fru5101'RC' t)itik'.K' ul'Abi'rdL*n 45U 137.1)51 3.?3fv 450 137.95B 1'tyt¥l for ZL122 141.659 TolAI for2021 J F.xptndliutt rnl%lna InA'e#iment mwh*%￿7¢￿¢ ¢0¥15 I nrtAirltk runds C*eneril Tut*l 57.170 S7.170 I'olil for 21122 57.170 57.170 TolMI for Ilbll 28.1151 7¥.851 Pa8e 17 John Mtttzi¢s T￿5¢ for Stottss CoU¢g¢ and Catholle £d￿￿110n Notes to the Flnan¢lal StsteffleTrts for the Year Ended 28 Febrn*ry 2022 (¢ontlnued) eosts 4 Tr"xpendltyr¢ ¢h#Yii*ble *tihlil lot¥1 fuo G¢D¢rnl l)ir¥¥l ofLhJriLthk ￿115.•1￿5 h.4114 6.41>4 (irwii r￿1.￿bIl.. RC I)i¢KYs¢ ol'ilT¥%II Isk*% Cifunl PIL)ahl¥.' L'NI.-I' LX)SiS 2.500 IY8.4a7 IU.(KJ5 19X.417 Tot*1 ftsr2022 ?68.6y? ?6R.69• Toi#l f4r2L121 12.361 Thc abtsi'c Rr4nL pAyiiicnls rcprcxnl the Tn￿1.￿ ¥rctd awards Lo thts￿ pthicuknr inslituiions to kYovi&. funds. for IIK funhcT4nC¢ uf C•iholi¢ r¢li8ion and for lh¢ of C4tholi¢* Tr$¢ •moun¢s Irc •greed m¢eiin8 ofTnuthk's oft an ￿￿￿11 bui l •r¢xirlt¢¢d To¢AI (kntr*l PriilL'%sM>n*l 1¢¢5 Acii>uniancy fLx's Ih¥ 4udir ofik. rh•rii)'SSLnnuDI 4Ltiithiis 1.725 4.140 4.140 1.725 4.140 4.140 I'ot*l ftsr 202Z ID.(M)5 10.(M)S Tthtul ftsr 2021 IV.Y35 111.¥35 6 TruJ1¢¢5 r¢myutr•tion and t¥prn5ts Nu LfUsi&￿$ nur any fvrwns with ilKm. hav¢ Iny r¢muMniion Irm) the ¢hriiy durin8 th¢ Nu IrtL%￿ h•v¢ r¢¢¢iv¢d anj. T¢imI￿T1cd ex￿￿￿$ orkny &rtfLts fwm ¢k¢hariiy Lknrin8 thc ycar. P48¢ 18 John Menziu T￿st for ScotU5 ColleEe Catholk Edweatio Notes to the Financial Statements for the Year Ended 28 F¢brn*ry 2022 (¢ontlnued) 7 T*x*iliJn Th¥ ¥harLI)' Is li r¢81$￿'￿Tr￿ 4h¥ii> an¢J is ¢YemN from JI Fixed th￿¢1 loi'tstnirjii 2•22 2021 5.447.776 Oihtr ltti'eAtffl¢BI¥ Total Ai l Maf¢li 2021 4.445.967 151.¥yVI 2.121.440 083.737 I.(KII.807 11.45111 5.447.774 2511.440 2.12J.440 683.737 Athliiithis Disr￿￿1$ Ai 28 Febttmn. 2022 6.13?.569 7.137.917 l¢t book i'slue Al 28 F¢bnwi 2022 137.369 I.IK)0.148 7.137.917 Ai 28 2021 4.445.1167 I.￿1.807 5.447.774 g D¢biorJ 2112Z 2021 AtLfL*d Ift￿¢ ()dK'rdthor5 1.703 1.377 22.536 ?3.913 1.703 In Novemkr 2018 tl* TnLSttes idvNnryd J s￿￿¢￿ loan ￿ R¢v CTharks Gordoh's TnL4 in the wm ¢Jf ll2.536. r)urin8 th¢ yLYr th¢ oy15￿ndin8 ￿lan¢t of ¢1* t08C￿*r 4rfnKd in¢¢r¢A. ￿%5 rtpaid in f￿11. Al 2B February 2022 lh¢ baLqnce outsi*nding %vL% Értil {2021.. £22.5361. rtt¢iv¢d during th¢yrar 4nMw*d w £3.23612021.. EJ541. lil Dtftrml C ould¢r•ti•i Re¢elv*hlt 1•22 2011 Pa8¢ 14 John Menzies TThst for S¢olu5 College #nd Catholle Ed￿￿tIon Notes to ihe Finanelgl Ststemtots for tb¢ Year Ended 28 FebTh•ry 2022 (continued) 'ThL dL'fLrrrd £on&idcrdEithn fr4￿ thi. (Jisposal of Tr￿'S wwKrt)' 41 61 lI￿lI￿1 A¥4'll￿, fulk)win8 Irwksftr DI. k8al Iillc on 21 Sem¥mb¢r 2018. Durin¥ the )car. Ihc linal inyLalmLnts thx. uThkr thc sat¢ ¥grtt￿￿l %irrc rec¢ii"LxI. Accordin81%. no d¢firr4YJ c1￿$1dcr￿b￿n r4m•irKd oYWa￿JIn¥ ￿ 28 Febnwry 2022 {?021.. £1.71Q.16ll. Th. trAnsaciiDn is noiv full). Iil¢d. I I C'**h rM*h tquiI"xIt#l> 2022 2021 C'osli oi lillnk 717.25? 541.50.1 12 C'rtdliftrts: falllthg d•t J"tAr 2022 2021 45.llly 45.200 JO.985 13 b¥•ds Included in IL.￿￿ree5 C%￿n￿.d belw. M lh¢ hi¥v￿. i￿1&h1 for4wd from lh¢ >¢¥ amtsurtin8 10 £7.685.l53 1?021.. £7.11fi.5711. It¢s•yrres eiptAde41 TrA•Af¢ F¢brnir). 2f122 I'Nresirf¢¢ed fu•d¥ 141.059 7.664.228 1726.2611 7.079.626 7!6.261 726.261 T￿￿1 141.659 7.805.887 Oih¢r Inrorying ftyJurct5 Ruo•r¢t Tr*￿fer% g•in*iihb5Jts) F'¢bruarb" 2021 'nLrJl li￿1 7.516.457 6.Y58.IY2 tX%ignaiL'd 7?&261 726.261 Tolal fund# 116.196 7.51&457 42.5 7.684 15.1 Pw20 John Menzies Trust for Scotus College #nd C4¢holle Education Note5 to the Financial Stwtem¢nts for the Y¢4r Ended 28 February 2022 (fontin¥ed) Desigrt*lEd Fund$ Th¢ kund rlwrL￿¢ils dmouni% a5jd¥' b) thi T¢u4*¢% fmm proc¢¥xl% of ih¢ 5wiu$ Coll¢g¢ iJk. lor s￿elli¢ futurc ¢liaritablc PUTPOSCS, irt a¢cord¥n¢¢ i%iih 1'r￿sLee deiisions made in prior)'¢ars. "Ihe b4lancc d¢sign4wl r¥*mains £726261 12021.. £726,261). No addiii0041 d¢signaiions or r¢l¥ws¢$ ￿Ere mud¢ durin¥ Lhe )'ear. Although d¢signated. kn, lunds remain part of unre%iritted reserves and may rL'alloL*ed ai iht discTeiion ol. I1￿..1￿1$(Ces should rircllm5i0￿¥S fcqllire. G#lM5 Loss¢s Ipi'ulm¢nts Gains and 10s%eN l)n itLN¢%imcois ¢ompti5e r¥dlisL'd Bains aTi&inB on of li51ed ins'L$tsncttts &nd unr¥¥li5¢d 8ains arisithg Irom ihc r¢valuaiioA cil'ihe invt#m¢nL pDrtlo1￿ 40 m#rk¢i valu¢ 41 thc %'¥aT cnd. J)uring lh¢ yearendcd 28 2022, r¥Ylis¢d yins (bTr inv¢￿Ments amounied w £54.49712021.. £273.8201. In 4d41iiion. unr¢alised gains arising on r￿.￿lu*ll(￿n of th¢ ￿nfollO wiulled £2iO.44012021.. £1672851. llm tnoi'¢rn¢nts r¢lk¢i nomial porifolio man4emeni aclivii}' iug¢thL'r with ov¢rall maTk¢i peTforni•n¢L' during lh¢ y¢Hr. Othtr Re¢o%nlstd GiiTrs and Lo>ses Other reco8niscd gains and losscs repre￿￿( Gapitsl rectipts no¢ ftsrming partOr￿￿. in￿¢s￿en1 portfolio. Thl￿ were othLr reco8llisL'd gainsor10ss¢s during ihe ycor12021.. £52,500 re￿Ing ro th¢ Blairs F.5th¢¢ upliri rcceipil. ThE Tru%￿.¢5 noK' thai any fuiurc uplitTr ￿telp¢S will derrtnd thc liming and progr￿ of further dev¢lopm¢nl phabL'S. 14 Relaled pxrt). Irans*cii•ns J)uTin8 iht ywar the chsrLLy mudL' th¢ following r¢la*¢J prty IratL%dttiClnS'. The trustee$ of thc John M¢ni.ies Trust for %col￿$ Collc8e Rnd C￿h￿l1¥ F,ducatiort are also trustees of CNf.T lalw knoi%v ab Ihl ￿1￿h￿p$. Conlerencc ofscoilaryll. l)urin8 ihe year grants wwlling £198.487 12021.. £nill ￿tTe md&. io INE"I' in f￿rther￿n¢￿' uf lh¢ Tru*'S chariiublL PUryJO>¢N. CNI.'T is a rela*d charity by vinuc ol' lar￿15-￿ta -I'i?LuI ￿￿￿ndi1￿r¥ 1325.8fy?1 I IS4.?Vli 4.1177 1114.2011 4.977 Reconcl￿tIOn of Towl lurHl$ Iwhi 1.￿5.15} 7.186.571 'l-otttl lunds ￿rri¢¢] liinixrd 7.S(MJ.95U ?.IYl.548 This pw thxsnDt rArt ofthE Sthluknry Pag¢ 2? John Metszies Trnst for Stoths C•ll¢Et and C•thollt Ed*￿tIO Detalled Statement of Fin*neial Activities for the Year Ended 28 Febru*ry 2022 (continued) Totxl Tot*1 2022 Irtiin liskd inyL￿n1￿ML$ In￿'T&'51 LJth dL'rrfb4jl4 Endoi%itbL'nr f￿￿ UI'RL DILICL'SL. ol-Ilber&x 117.958 115.Ib77 546 InLY>rn¥ 3.• Jh 141.65¢P 554 57.1701 (ironi tM)'4bl4.' Th¢ S¢oiiish L4ih(bli¥ Ar¥hiiY$ rl￿¢ F4J)obl¥': Fic I)1￿. ul.A￿lI1 &. Tk. lsks Grthni pa>iblL': C'NET ¢ow¥ l.ibrnry ¥XWnS¢S 151.2%) 163.8401 1191.4R71 16.4041 17.2¥61 12971 Prof¢55ionol l¢es AtcounLan¥)' f4x$ Th¢ ludii of I￿ ¢hariry sinnuol 14.1401 4.140 26X.6971 17..1601 182.3611 p4c (h)es Th¥t fiKm w¢ ofthc xaiuts>ry fih•*illl statcmert Pw23