John Menzies Trust for Scotus College and Catholic Education Annual Ryori FinllncLql SthtcmcnlJ rorih¢ Y¢wr En(kd 29 f¢bN4ry 2024
Johll Menzies Trnst for Seotss College and Catholbe EducAthI Contents ReliYen¢e and Administ11.¢ Dctsiih 2b)J OfTru¥W R¢y)nsibililK5 E%oniineVs RerA)n 7wll Bokn¥'4. She¢1 NO w thr Firbu.1ll sM¢1 14 1022 D¢4ikd ol'financl Aaii'iii I324
John Menzies Tst for Scolu5 College C¢holle Eduvdtion Reference and AdMlnlsiTrtlv¢ Detsils I'rnstees I10P S knb&> hbIShoP l. W Lu%hl¢y Bishop11 F. cli11rI Aishop EmcTilus 11 A Nloran riishtspj K¢¢ttin Tlishop Ern¢riiusJ A T1 Ri%liop W Nolan Ili5hop [4 MLC C'hArlt)" lieihirxtlott Nmmber SC027490 Prlhclpil n(ntt Burnrfi & R¢id LLP l Albyn PIN ABIO IBR CliLrtts Actouniirv Limi V• P Grimky & Complloy 172 Kelvinhttu8h SEfLYt Cilassow (i3 8PR Stynky & Lo Limid 2 Mulir¢es Walk Si Attdrtw Sqully¢ rAIn1b 1113DQ SDlkltors Fjurneii & R¢id LLP l Albyn l>l¥¢¢ Ald¢e ABIO IBR lknnkerj l.ioyds TSB plc AtTd¢¢n 8usin¥ss & Ci)mm¢r¢¢ L¢sr¢ 415 Unton'lettc¢ ALrdth Afiio INJ P4el
John Menzies TTU5t for ScDtus College and Ctholie EduLYtlon Trustees, Report ' In]>lis prestni lh¢ ¥nnvul pOrt tygciher wilh IhL' financial stai¢m&mis ofihc ¢harity. for ihe YCJrcnd 29 l.Lbrudry ZOZ4. Ubjeciii'ei xnd ¥tiivities Objeds Th¥'ftu%t'N principal objtcliwL' LS io pr()i'ide fund¥ for lh¥ lurihLr&nce ol'CaihuliL religiun #nd fur IhL Lylu¢iion 01'ChIll%. IL. main $4JurLKs ol- in¢omL arL dli'iiknds bank In'r¢Si d¢rii'¢d ITOlli IhL Lliar¢t)'s in51CAl$ and hank d4vIlI$. Thbse prui'i&' 8rani support th¥, for¢8oing 0bjLCIiIL. In acrordance with Tru4t Ik'¥d. Ih¢ hdvL IIK. PDiver makL ini't#mL'nrs they LI' fil. A5 511£h. "rrU lias inv¢siL'd lundb irt iu' and mediurn risk Ini'¢Jnicll i.¢. goimMmcrti securiiies IJK.4N>Lks. Thc lund is managed by LhariL% Swnkry & Co LtMi1¥ iviih u liciv to maximi.%in8 Inco. wilh a li.1 of iapiill pprL'LiulioK. I' tru5t¢¢s ¢&r¥lully Li)ll5i(kr thi mordl Llliical suitsbiliiy ol'th¥ s¢u¢ks in which di¢y itLVCSI. Pwbhc benefil -rhe John MenLies TTU5L PToY1.% public benefit bj adi'an¢ing and supportin8 Latholic <ducJiH)D in ScoilaD ineluding making 8rants to cd%Lcarional and Teligious bodi¢s. thereh. advancith8 tdlltdion and religion for the bcnclii ora %¥i(k'r s¢¢iion of public rathcrihan privaLC ittdii'iduai5. Thc lYUSttes ¢onfirni thal Ihey have iornplicd wilh thi Tcquir•n¢nts of Ihc Chariiies I rllsi Tnveslmcni IScoLlandl AL'L 2005 las wmcndcdl. In¢lj1nS having duc r¢gard iu thc public bcncfLt 8uidHncc Pllblishcd b), th¢ Orr¢ of Ihe S¢oiii&h Chariiy Re8ulator. .4chlevemcnts ptrformantt t)uring lh¢ year ¢nded 29 F¢bruary 2024. Ihc "frn ¢oniinuLd 10 fulfil its principal obj¢c¢iv¢ of wdy47g Ca¢holi¢ T¢ligion and ¢duty4tion by provlding appropriaw charilable financial SuprL To¢#1 in¢ume ltir the veBr WHS £169.70612023.' £163.¥31 I, wmpri5in8 divi(knd incom¢ from listsd invcsthwi of£163.179 aThd inl¢T¢%I un ¢&4h d¢[rflts of £6,527. 1'h¢ incwasL' in inkrcA ¢n¢ome reflec15 hi8hcr PTLvailinB in1¥.¥1 rdS durirt8 lh¢ y¢ar. Durin8 lh¢ yl'ar. grants ts111ng £98.722 madL in fvrthcrance th¥ I'ru%i'g charti&blc pr$LS. This includcd d ¥Tani of £98,722 to Ehc Scolli5h Caihtblic I ILfLEyg¢ Coll¢rtions'frusi. Dllrin8 thc ycar Ihc Tr atso reccivcd a refund of £31.543 from CNET in r¢sp¢a of an unsp¢ni 8Yani from a prior period. S¢trius T.ibrary cxp¢nscs amouttied £8264. Thi Truhi¢¢b )nlin¢ 10 mOnir inv¢sthKn( PLrfoYmall¢¢ carcfully in li8ht ofun¥oin8 markei condiiiotLS ar rEmin 41isf¢ed wilh Ihv IM8"i¢mi inv¢*menl SlraleBy athimed by the TnL51.
John Menzies Trust for Seotus College and Catholic Education Trustees, Report {continued) InN¢ll rcvlew Total inc(>m< for thc I'car ivas E16Y.706 12023.. £16i.8J l). Towl ¢y011r4 amounted iu £142.244 12023.. £427.3261. cumprisin8 invcsimlni martagLYnClll cvsis 01. £50.394 12D23.. £51.008). ch8ritsblL' dLii%iiies or £79.5i312023.. £365.8211 dnd go¥'L'man¢c tosts 01-£12.211712023.. £10.4971. 'This 'sUld in a ncLsurplus kK'furc 8HiftS And los.5 of£27.46212023'. nci dcficii £263.4951. Durinu Ihc year, ttti gains on irti't%imcrtt% i)1. £166.91)6 12023.. to>5 £176.4881 i%trt recogni.%Ld. The. ¢pmpri¥¢d T¢alis¢d gains (11. £23.120 gains of £143,876 arising on th¢ r¢valualii)n vl. lisd inves¢m¢thL% .1 ai Ihe i'Larend. avernll, Ihis resulicd in a n¢1 m(Iv¥rneni in fun(Is of£550.458 (2023.. n¢1 d¢¢1 £439,983). Tokj futsJ& carried forward dl 29 FL'bruary 2024 WCTC £7.916.362 {2O23.. £7.365.9041. Ai the y¢¥r ind. lh¢ Tntsi hLld lixed ass¢1 invcAmcniS wilh a t)L'i val. of E7.198JO8 {2023.. £7.051,4781. Cash bal4n¢¢¥ Iv £746.128 12023.. £371.7851 and 8nd inwtn¢ of £50.450 12023.. £2.4011. Th¢ Trus(¢ consid¢r th&1 ¢hL' Twsi ioniiDu¢s mainiain adtqU8 liquidiiy iu m¢¢1 its on80ing wmmiimcnts and aniicipAttd grani-m8k-in8 requ1Ments. Vln$ for fulur¢ pe0d5 Aivu 4ndkey obieaiwe5lorfMl¥pepenods The Tru5kes intend to Lni1e ihcir PDli£}' of mainlaining a diversifiLTrd invLSim¢iii portfolio ID ord¢r TO 8¢vrwf incotne and capithl gro1h suprAJrt the charitable purtx>ses ol'lhe TrusL Th¢ T will coniinuc io twvide fmanciJl &$sislHnc¢ appropriaLC Clliholic charitsble Ix)dies. includ¢ng suppurt for h¢ritag¢ and archsval prcs¢rvation and fijr th¥" corklinu¢d dcv¢h)pmcni and tO[r¥allOn of t31aits Museum llectiOn& Th¢ TnJ5tr¢5 aNi¢ipa Ihai furihcr uplift receipts may aris¢ in y¢4TS in r•¢¢t of the B11$ Estate vtlopmcni as addiiion¥l phL%ts progress. The Tru%lees will continuc lo monitor investhenL rKrforniance closely snd rcview 8rani commiimcnis in lighi ol. in¢om¢ l¢vtls and ¢apitsl growth. cnsllrin8 Ihai lh¢ 'frusi rcmaims financiull%' S¢CUT¢ whil¢ fuifjlling its charitablL ubjL'Llive%. Nire OJIVeR#i% John Meniies Tru for Scolus College arLd CllLholiL l.Aucatson is & TTU51 which cstablishEd by d Tru%1 fJ¢¢d in 1855. It IS A TCCOBni*d %Lrniltith ¢hrtrit%' ISC0274YOI.
John Menzies Trust for Seoth$ Collet¢ nd Caiholic Educatio Trnstees, Report (tolllinued) ,4. Efysk¢s awm¥d by th¢ ex11n8 tnL4¥Ys and thcri is nD withjlai qu¥lificaiion be a IriLrcc. I lo11.Cr, the Trust for many vears lollDMrd euaom orasyjml as a Ewu5k'L ani'oDL' whD is io t. %1[lon olon¥ ufih¥ Latholi¢ Bthy ofsroUnd. •Jtrsrees TVUcL.s are aivdrc of Ih¥ir thiie5 •nd r¢wn51"li ID r¢Ilon gDwtMn. atyj financial oiEtsi8hi of Ihc Tknwd of TnL%l4l on¢¢ * }e to adminisL¢t acltvitK$ of TnL%L Th¢ havc th¢ discrl'tiull io dL'cidL' Ix)iv thc incomc 0["rn can #b Ihl i>bjLLIivLS Trl'the'l'rust and r(. emFx)%veTed Èo accumulaEC an). [on of thL income for maitmethathtt of ¢h¢ I'rt1 fumd. Tht da>. io day mainlcnanccolthe recorytsoffv Trux 15 uThkYthken b) Burncii & RCIL th TntsfssolKiior5. Ohiecffiv1Vdp0 ThL Clty'S aCEiY1I IE w a numbcrorrLnaTL¢ial rssks in¥118 uedii risk. llow risk and liquidity risk. Th¢ us¢ or rin4n¢ial dcriv&¢Yes is govemed b¥ thr chJriiy 5 wlicics appro bv th¢ boKd of tru#c¢s i¢h provid¢ principles on usc orrinancial dcrii.al1v manag¢ risks The charity dots I[ th11¥t finanlial illSLnunenrs forsl3111.¢ PPs. Cttshflow IF lTh¢ ¢har¢iy's athivii¢¢s exp)se il rKimarilv th thc fmancilll rth ofikn8es ith forei8m cunrnry nE¢ rucs and iniErrA The charity fol uthng¢ fon¥¥d coMrts and itthst ratc sw contracts th IKdge IhL'sc exrrts Ivring4%8¢ts liibiliii¢s4r¢ bcld * fixed A IOelL%IWE certainty ofc&th 'Thc Cl1)",$ principal finaTrci&l &ts ar¥ trfJan¢esatyJ Lth. wa&. otlK'r r¢ttiYab and in%¢ArnLnts. The charity's ¢rdii risk is primarily aithbuthie th its trade receivabks. Tr amounts pres¢¢ked in the b&n¢t sh&%1 are w of alkniY8n¢ts for doutrrtful TL'L¥ivabk5. An ajkbwznts for Mnpatmicni is madc thm. 15 an id¢niifi¢d loss rvenl Whic FAstd on preYiDU5 CXPiCtK is ¢¥irkrKc ora rtduerion in & recoveTHbility ol'rhe Thc cr¢dii risk OD li9uid dtyTrviv¢ rityr1 15 limid b¢¢aus¢ the ¢ounW$ banks with b¢8h ttrdilTarinSs18rd b). in1[[lOal creiEii-raiing 48¢n¢ie> Th¢ ¢harily has no si8nil1l of cr¢dii ¥th ¢x[x)Su $td ovcr a iu8e TrAmbcr or Llq¥Hlty iiJ* Jn otdcr lo maTniain li4uidiiJ to ertsure that surrKicni fuThJs ar¢ ai'aslablt for othgoinB 0ra110n5 fuiurc d¥.V¢h)pM¢n th¢ ¢hariii' us¢s a mixllue of kn)yem) andsknrt4crm (k4%t ftnantt.
urtlier details r¢gaTdin8 liquidiry risk Can bt fOd in of accouniin@ polic in thc finan¢ial stsmetLts. Reappoiiimeni of Audiiur Thc auditors ClienLS 14 Accounthncv limiKd i leapind und¢r 4411 M¢) of th¢ Chakriiies and Tnw¢&' ISthWI Act 202). P88¢ 4
John Mellzies Trust for S¢ots$ College nd Ctholle Edueation Tte¢s, Report (eondttu¢d) Thc tmuaJ repffi w&$ ap1¥¢d by th tsiJs(softhe ¢h•rity on 17 Mar¢h 2026 on its bEhrby. Bishop E G¢li%rt
John Mtnzles Trust foy Scotvs College and Cgtholic Educatlo Stsiement ofTru5tees' Responsibilities Thc Lrus1¢¢5 ar¢ K)n$1b[C for tbr¢parin8 lh¢ Intstees, rctKIrt und ihL' linan¢ithl Siuw'JTr(s in w'llh IhL' Ilaid Kin8doin A¢¢ounii118 Sthndards IlJnii¢d Kinadom CiLnLrall)' A¢p.d Af¢ouniin8 Pra¢11) and applioublL. lam. thnd rc&uluiion8. I'he law. applicllbk. Ici ¢huriii¥s r¥uuifLS Ih¥' Irusiee> lil prLpiifL' linanLial 514l¥m¥nis for ¢A¢h linaniiol )'I'ar iiich Bl%,¢ a irn¢ 8lld lair %'iL%- of IhL'.%tuli' of 9178ir% ofihc charitj ond ill. Ili¥ iwomin8 r¢sour¢cs and appliLalion Trl. rLgJurccs ofihL Lhdriij for Ihal In prLparin8 lh¢ finHn4iMI SWlimi'This. tnJsleL'$ a¥L' fLNuifL'd io.. jiid¥¢miiii4 uiid L'slllllIllLs Ihiii ure rL'd4nii&blL pru(i'iil: lale IvhLihLr nppliLJhl4 ULQI)uiiiing siondwxls. haie hL'L'll ljilliJi%i'd. subjL'LL iMAl¢riul &'pmur¥$ prL'pllrc IhL lstkUnL'iiII %lUl¥rn¥Di% (111 111¥ ¥41in¥ c(inLLni bngis iitik,k% it 1% i114ppnipriui¢ w prL$um¢ thui Ih The Itustees ore rL'¥piin%ihlL liir kcL'Pini proptr ae£ounii118 rc¢Drd% Ihui di%loK ii'iih ressonablc atcuraty al any iimL% Ihe financial F¥)siiivn ufih¥' ch4riiy Ind Lnablc Ihcm on&ure Ihul ihL' finunciul SLElcmcnis ¢omply with lh¢ ChariiiL5 Aci 2011. lh¢ Lliariii¢s IA¢¢thunts and RtFx)rtsl Re8uIoLithn$ 2(M)8. and th¢ provision5 01. I. LW1111¢10n. Tht IrusLW¥ 41$9 rc$p)nsibl¢ for 5Afc8uoTdill8 Ihc osis iTrf IhL' charily and hcncc fDT thkiTh rrth)n4bl¢ sP5 for Ihc p'¢i110n Btyj dci¢ciion orrriud ond oih¢r ¢rrt8uIArilics. 'I'he irusiees llrL' rL'yFxTrn¥iblr lor Ihc mHinicnan¢¢ und in¥riiy ijl. Ih¥' Ind finlncial InfDrniuiki IlUded on thL ch411bIl 4ompAny's wL'bsiit. Le8islsiion Ki)vL'm>A8 Ih¢ pr¢paro1ion aid disxminBLion uf linan¢ial ntlly dil)er Irum ledi8laliOn in oihcr jyrodi¢tii>ns.
John Menzles Trust for Seotus College nd C#thDllc Educa¢io Indep¢ftd¢nt ExmlneVs Report io Iht trustees ofJohn Menzie5 Tru$1 for S¢otu$ College and Cathollc Edy¢4tlo We hBv¥ audid th¢ fin4n¢l ty.¢ts ofjohn Mewiies Tr1 for Stolus CullLgc 8TrJ Caiholic l.Alucaiiun for l'ear ¢ndcd 29 FtbruaTh 20?4. iithich wmprisc SEamcni ofFinancial Aclll'iiies. Balance %he¢i and Ih reiRd nO'[he finan¢i&l rc118 frnmew)rk. has applicd in ir pptiOn is dpplicable law Financi41 R¢rAJrtin8 SEndllTd otvlicable in IIK and Republic uf IT¢laThJ IFRS 1021 (¢fl¢c¢ive l Jlrtuary 20151- Ichuriiies SURP IfRS 10211. QU11rd opInM on Llx" finurK'ioI stsrenK'rt% lth our OPithiLth. LX11 for thL LIT¢¢ of i. mikYs des¢riiKd in ik. B•si5 ()Jalificd l)>irtM)h rAT¥rn. Iht rin¥ncial SEai¢niEni& ¥ll'k' a Iru¢ fair lif of. dwriN's ai 29 F¢1¥y •024 ¥nJ i)fii$ r7¢$ for lh¥ yer LhL'th crtskd: ha%¢ prowly prLwfL'J ith ctw&n¢&' iih UnilLyI kin8th)ni CKMThll> P11&.: Iw%¢ rL.red in llLLiirdul willi IIK. re4uirLThMmlS VI'IK. ThaririL'S I.rns In¥esimeni i kn1114mdl Aci 2(K)5 Jnd rr8ulwion 8ofih¢ ChariiK¥ A&x%>unts Iln> R¢8uLgln$ 20195 ftyr 4uilllled •plnlon •• Thert %%iS A subslwilial d¢l4y I1¥¢n th¢ linancl l'ear •rA thc wcpmiM)n orth¢ financial Thi$ r¢suld in ivailibility of¢onmKIJJS documenty) and ¢xpL11n produ¢in8 ¢Aimaiion nttnainiy and cvidenual limithiior Llmited 1Aforma¢ion mdt v•llblt11.IMl¢ailoR of tsPe> Ae£ess EO 0Y11Th and supFMin8 thxumenwiion in¢ompk. Cernin 8r4ni prymeni dOcum¥1n trL' w%•ilable. r¢¥ri¢linK our 4biliiy ¢OlUd¢ on dir¢¢¢ ioTrUt Wt had no dir¥¥l wmmuni¢4lion with thox chw8cd lih loV¢rn K'r¢ toobthin rtprEscn&lK)n% dired frorn 5¢& All ¢Nrwnth¢¢ wndueted thwu8h TnLa'S k8al id¥ixr4 limiiin8 our abil¥i> 10 mik¢ I4•rick iuKYnn¢e tr$48h and ttsnfmTh p)mplctrn¢¥ g1'diKlostsres l¢Trcludin8 lI1¢d part>. above mr5 rewliLyl in • • qulifKd wjii winion forthc yellr eThJed 29 2024. 8¥.7
John Menzles Trust for ScotU5 College and C4tholl¢ Education Independent Ex4mlner's Report to the tr51¢¢5 of John Menzles Trust for S¢otu College and Catholic Edlleatlon (Continued) (.vncluslons relatin¥ Roing eonecr A$ puft vf IIK 4udii ilf IhL financial SiulL'inL'ni¥ fur ihL' y¥ur 29 1.ebNthry 2U24, WL. LvnsidcrLd ¢hL'I'rusicc Kx%mcr>i of IhL' I'ru¥L'S llbilii). IL) ¢uni¢nu¢ a% a Boing eon¢L'rn. W¥ undblL io nbthin an} 'pr,L.IulIOtt Irom lh¢ TrusiLYs r¥¥ur¢Jin8 goin8 ionLLm. AL4DTdin8ly, pgrform¥'d Judil WKL'dure$ includin8.' kciicii, of I.'1-$1-5 finoncial p()%llHin l.-xthminoi¢on iifinvL'.simL'ni holdin81 und FX)SL yCHT¢nd irnn%thLliiln% ub$thni¢vc i¢siin8 1)fJLvailablc inlTrrniA(iuii. llccrual% an¢J Inaiiir inc•mL L¥PL'ndilUTC I1%. HnK'¢J on thc ¢vidL'nLc obrsincd, n(bi id¢n¢ificd ani, m4iL'ri41 lln¢L&rtlliniies Lhol could L'a%1 $i#nifi¢ani dthubi on the I'ru%l'4 obiliL> (o conEinUC B¥ o guin% 4M)nLim lur ai I¢Lsi iiVL'IvL niunihs from ivh¥n lh¥ financ1 IuiL'rncnts r¢uihori5od for issu¥.. Thi finoneiol SWlL'mci% h%.C bn Ppild on a 80in8 bosis. .hiLh WL. considL'f AppNJpfjiI. Oiher InformAIloA A% ptri uf twr rludil Trf IhL' finBnci41 %iuiL'mcThl% w¢ h2v¥ r4vi¥iiv¢d the oihL'r inli>nniiion IntludLd in lh¢ innu41 rcwri. spccif¢¢olly IhL fw5¢ees' Report. The Trnsiees IirL' yi'8ponsible for Ihc oihlr inf4)110n. OUT opinion on IhL' lihancidl $tslLm¢tsL% 4ki¢s noi covLr I oihcr infoma¢ion and. ¢x¢¢pi 10 Ihk ¢¥lL'ni oih¢NYye expliciily s¢&ted ID uur rcwjrt. wc do noi ¢¥P$S any liirm ol'llssuran¢¢ nClUSi1)n lhen. Iii eoM¢¢iion wih VUT uudli ofthc finan¢¥ul S¢al¢m¢nl& OUT fLW)onsibiliry is 10 rcod Ihc oih¢f lnfonna¢io in thiin¥ w. &unsi(k'r whrihcr thc uih¥r inlDrnulion is m4i¥ri•lly inc(>n%isi¥ryi wilh Ihc fininciMI vur knowl¢d¥e obiain¢d in the audii or Trih¢rwiFÈ apwar5 10 bo malIallY M¢hxlk'd ID lh¢ finan¢iol st1Ments or 8 mgierial Mis$ML,ttI ofthe oihLr inlomiailon. Ir. bllsed on Ihe WL. have perliJrThd. w¢ ¢on¢lud¢d Ihii Ir. is i miitrilll mis%L1MEI uf thi¥ (>ih¢r inftsmiaiion. w¢ ulT¢d th¢ farl WL have noihin8 10 resx)rt in tht% reyrd. Oplnknn othcr milte In ouropinion. bBsed ih¢ under1¥k4 in the ¢oursc ofih¥ audii.. I. infiimiuiiviL ¥ii'¥•li in Ih¥. I'ru51¥¥5' R¢w>ri fur Ik. lillunciol >4ar Ivr MhiLh lh¥ finHn¥i¥l SlJl¥m¥nis ar pr¢pored i.%&y)nAi5lini ii'iih lh¢ linaniiul 5lill&inellts'. thn Il* Trtl¢¥$' R¥pori11&4 I>E#li pf¢puTLxI in atcordaiic¥ ivlili oppliclble legul r¥4Ulrt'm¥rhL%. Il•lleTS on whl¢b we •r¢ rtqulrtd lo report by ¢xcop¢lvD In Ihe li8hi ofuur knv%¥lL'd8t and undersiandin8 of tht ¢h4wiiy 4nd i¢scnvirth?mLni obiftined in iouN' of th¢ udiL have nol idLnlilicd rn&lerisl missi&th¢IS in Ihe'l fU8iL'e8' Report.
John MtnZi¢s Tst for Sco¢u5 College nd Ca¢boli¢ EtIon
Independent ExJnin¢r's Report lo the trusttts of JobD Menzles Tnt for Scotus
College and Catholic Edueatkln (eontinued)
Wc have nDihifig WErt 111 IE¥KCI Df the (D1kn8 miiets ulKrE Chariiies 4ThJ T¢¢ In%¢Arn¢ni
Iscotlandl Acr 2) and ilK Chawilics (Scotlandl Regulaly)Ds 2[ las 8m¢nd¢d) Tequircs us LQ
rw>rt to vou if. in our Opin=
LqualL' aLYOUI1Ii [LNIL hai¢ thlii kn.n N'iwns adLwiiaiL- for vur ¥udii rcLYiiYd
linm brdiichLS IKIL l'isircd . ILK iir
havL' Lwt reLYiS'<d oll th< inlorni1un and expl4nl0 rK'4uifL' forour alL
Reswliv¢ rtSPOllsibilili¢i ofirnst¢es and ¥uditOT5
This rcwrt is madt solcty eharih S 8 ImY. in accord•c With ¢iwn M(11 ¢ ufth¢ ChDii¢s
and Tru#cc InTrKcsLmcrti {Stotlandl Aa )(rf)5 aThl rert in accordance with thE Act relevnL r¢gvlaiions
or having cffLLi thereutLder. Our MY)rL. ha5 Undeen w thai miKhL SWC ihc IrusLCCS
mairs r¢quired EO SEa LO ifusE
John Meniies Trnst for Sroths ColleEe and Ciholi¢ Eduution Independent ExmlneVs Rtport to the trustees of John M¢nzles Trust for Scotus Coll¢g¢ •Bd C•iholk Education (continued) WL obtained an vnthTS¢andill8 of Ihe kgal WLd frameiiY>rk. thai ar& applicabl¢ w th¢ ¢nti¢> and dcitmiined Ihat Iht mosi si8nificani in rElaEl( to atTh)unES and di1)sur¢S in Ihc fin•rlI1 Aamenis are SuiLYIiL'ni% uf RLLvrnm¢ndttl w11¢1¢ w ChriiKs priparthg I,1T in accoTdan£¢ FRS 102 1.'inanLiul RLSX)ri¢ng Sidndard 4)pli¢abk in the IJK WKI RL'public ufiTL'laNL. W¥ 4s%c$s¢d the risk% ol. mat¢riAI M$10ML dut ty) frd by ¢xinsi&rin¥ th¢ fi¥iu ofthc '[nl'S 4¢¢iviii¢s whiihLr Lxrtain ar¢&$ Are likely lo bc S'[Alb io irrL'¥uIAriiiC%. W¥ alfn wn4i&'red the '1'r%1,.$wTr risk manaBcmLni w¢]r¢S and controls s!'SEcm5 tAir¥ wnsisiLnil>' upp)¢]. lknscd ilK' %11$ ufour risk a¥¢&1 dHign¢d our audsi pro¢ule% tsy ithniify iyjmplixnee Lh i(k'n¢ifi¥d I%.¢. Thts%' inElwlLyI - aBrLX'niin¢ (>l'ihL' finun¢iul 5taiLmL'ntsdis¢losurts to syortin¥ &yJrnurtll¢N>n - making aprKupri4w' ¢nqyivi¥sof mana¥¢nI - ul'Min¢S ol. meeitny ¢hrou8h th¢yeir - inin8 vn¢J¢NandinB ofihe control enwironmem in w¥)•irIng LX)mplion¢c ivith and rc4ulw)ry4. Wk ilw LThs1dL'j risk or rrnud thro4h of iwnwol and r¢spJnsc. rcvi¢wrd rinantlal rec foi unwll tr110% or * %wif•Ewry ¢Xpla1)n. No sKh ifns Mknulicd. Lit ofour nport This r{.rt is tht 'frusts members 4$ a btsdy. in •¢wd•n¥T with th¢ 44 111 1¢) of lh¢ LhHriii¢s and I'rusK¢ Inv¢Am¢ni 1S¢rthndl A¢1 2tX15 •nd 10 of th¢ Chariiits Accourt (Scotl) R¢8uLqiions 2006 Ils 4mcThJedl. Ow WKkrtakcn >J thRi mryhE WE¢ w th¢ mwl%rs tho Maticr5 art rcquirL'd 10 thLh in #n iudiwr s •rvJ for w oih¢r purp)s¢. Tu lh¢ fulk ¢xni pcrmiiiid by law. do ar¢cw rcynsibiliry h¢r thAn and its trnAecs * ix¥Jy. for our audii work or fur opinwffis %¥t hv¢ fu. Pry¢l
John INlenzie5 Trust for ScotU5 College and Catholic Educ#iion Independent F.iamintr'_s Report to the tru5tCC5 of John llcni.ies Trust for S£otU5 Cullc¢vc Jnd Caiholic F.du¢ation Iciiniinucdl ChllrtLfid Cenifi<d.14LLY)untsnts and %r&iuton ..lUdIr$ 17! KilsinhJu¥h %iriil 17 IlJrih ?0)6 PagL 11
John Menzles Trust for Seotvs Colleze 4nd Catholl¢ Educ4lio Statement of Flnan¢lal Aetlvlties for the Year Ended 29 February 2024 I',nrt.41ri¢lc lolal 21124 In¢uMt M¢nIS froni: 169.706 169.706 150.3941 179.5531 1511..1941 17%).5531 Gu¥L'rnon¢e tiisig .1 oial L'YrrtiidiiurL' (tU1¢11¥ un inv¢iiin4NI 1142.2441 166.996 166.YW) N¥1 I41n¢ 194.458 IY4.45¥ Oihtr reco¥nlstd IOWA OLIILr ¥&in511055¢S 35&(M)O 356.1)00 N¢1 mo%em¢ni ith lilt 550.458 550.45 Rt¢onelllatlon offunth 'liithl funds bmumhi lur%iwr 7.365.904 7.305.gL14 'ruthl lunds cthrricd lorwai 7.¥116.362 7.$116.362 l Nr¢$irititd fundi 2th23 163.X31 'liiiul in¢Dmc 163.1131 Fxptndlure on: R4¢siTr8 1.unds Lhdritsble AUii'IIILS {51.Q081 151.(YJ81 10.497 IU.4Y7 Toiul L'¥PLndiiure 1427.3201 176.4%111 {427.3ZO N41 ¢xp¥ndiiuT¢ 14.19.9831 4.lY.¥II.I NLbl nKiI"emL'ni in funds 1419.9831 {43Y.Y831 Rteoncilition of 7.¥05.¥¥7 7.111I5.8M7 .1 L)ml lund$ Tri I1)r.ra 7.36i.9O4 7.3fi5.Y(H 'rhc 0¢$ on po8es 14 10 22 forrn an inte8rdl 01..C finanLial 5t&temcnts. Page 12
John Menzits Trnst for Seotus Collegt and Ctholie Ed•c8tion (Registration number. SC027490) B4lan¢e Sheel as 4t 29 F¢bru4ry 2024 2•24 2023 Fiiwj 1115¢¢n[s 7.198JOH 7.1151.47X C'wrrtni ¥%stts 50.440 74&128 7%.578 ).401 371.785 374.186 hank Jnd in h 10 ( reditors.. .Imoullts fall&ll# d¥e withiD ont Itar 178.5741 iy.7601 ¢1 ¢urrtnt JWL% 718.Oi4 i14.421 7.916..)6? iht charih": I nTrsirictcd incoffle fullds UnrtSlrrilLid lunds 7.91&)62 7J6i.4)4 T•tal funds 12 7.91&362 7.365.1)04 Th¢ financial sthmethts on 12 th 22 Ayro¥¢d ty" ¢1* It for is5 0th 17 Marrh 2026 SiBnedoE) theirbEhaifby'. Bishop Trustrt Gil'rt Thr Mes pa8ts 14 22 f4Th an inla1 of thcse financial SeMen1& Pag¥ 13
John Menzles Trust for Scotus College nd Catholic Educ#tion Notes to the Fin8n¢lal Stgtemtnts for the Year Ended 29 February 2024 1 .4ctounlin% pDlicit% Sitement ofcornplinc Thc linanci81 Sial¥wnis hu%'i iK'in pr¢rld irn uLixirdaniL Miih 4)pIiLabl¥ lJniLL'd Kingdorn llccounEItLg ndards. including l-.inanLial Ri.Jr11ft¥ Siundard 102 l inancilll RLtx)rtinB #ppli4abl' ill lh¥ UK and R¢public ul'lK.land. and ihe CThorities Stalemcnt ofR¢commcn(kd Pru¢ii¢c Il-.K$ 1021 i55wd in July 2014. "rh¢ 4ccounis hav¢ also bc¢n prepared in ac¢ordaneL with Ihc Chllrilic5 and I'nLStce Inv¢Jmini ISL'uil&ndl A¥1 2005 and th¢ CbariiK's Accounts IS¢oil8ndl Rc8ularion% 2006 las ametoedi. Illsis o(pttpN¢lo John Imcniics I rust for Scolus Colkge and CRthDlic l-.du¢aiion ffl¢¢ts thc d¢ltniiiiin i)r & publii iK'n¢fii eniiLJ under FIiS 102. Th¥. IfinaLKial >1Ol¥mini%l h#%i ixL+n p.PTL.J uN'r Ihi hiilurilal c051 conN'enEion with ilems Tecu8niSLTrd Mi cost or tr8twtion value unl¥ss oilTwse stsfrd in thL' rclcvatti rle{sI to these accoun Golng ton¢¢rn The trnsiees ¢uns¢der Ihii IhLfe #Te M matrrial nc11•ES aknui th¢ rb4riiy¥ abiliiy 10 coniinuc as a going ¢rn. INtom¢¥Dd tUav¢I5 DIVIdet arl, '¢08ld on¢e Ihc dilidcnd has IK'n dLclored and notifLtIOn rL¥¢iv¢d orth¢ divid¢nd Expehditure All exp¥nditur¢ 1% rn'cogni.K.d on¢¢ Ihere is a Ic8al or wnsirvciii'e obligation lu ihul extxndiitsre, il is probable s¢til¢mcni is wquIrL an¢J ih¢ amount tan b¢ mcasurL'd rlliably. All COSL% arc aliocdied kn thc 3pplicabl¢ cxpcndiiurL' hcading thal a8gregale similar CU%L% io thai ca(L'80ry. Where costs c8nnoi bc diT¢¢ily altri1(¢ ¢0 pArticular headings th¥v hai'¥ .n alloLaicd Vn consisltn¢ with the usc ol. r¢sour¢c& with ecnts81 stall. ObLS all1%1 on th¥. bkn'ib ofiime and deprcciaLiOn ¢har8¢5 allocated on LhL Fx>rtion of the 5¢1'S . Other SUPPOrt coms are alloca¢cd based on lh¢ spread ofsiaff ¢osts. These are costs incurrL in llra¢iing volunthry inmi, IhL Mat8¥mEn1 of intrL%tmL'nL% und Ihosc incurred i Iradin8 aciii'liics thai la1 funds. Chorilqble oclivilies CbaritabiL' L'xFKndilurL' comprises those coAs incuffcd by ihc chllrity in ihe delivery ofits a¢liviiiL'5 Hnd ¥crvice5 ror ILS bENeficiariLS. It includcs boLh cosLs LhaL can a1luLll.d diKYilv w such aciivilics and Iho% co$ of•n iDdir¢¢i naiurL 10 syport th¢m. GMnlprvills Provisions for grnnL4 arL' MId. whett the inieniion mak-i a 8Ant has Ikx'n ¢ommufticakd iu ihL recipierbl ' is un¢ert*iniy citkn'r Ihc liming ol-ikn. grarbl OT th¥ amouTrtul'Branl paydhlL. IDa8e 14
John M¢nile5 Tntyi for S¢oty$ Coll¢E¢ Ctbolle Edueation Notes to the Flnancll Ststements for the Yer Eoded 29 Febrnary 21124 {eontinued) Go%trn¥nr¢ costs ThL' intlude ¢osts auri1&ble kn iht ¢hriN' s ¢iNnplian¢e iiith consti(Utionl aatiiioo. r4Y4uw¢in4Th ildIng 4ydiL sir¢8i¢ m4rAg¢m¢m I1 m¢rfings T¢imtwxyl ¢XTr. T•x41iO• The ¢horip' is ¢¥¢mM fnjm on ¢hwithlJk 1•51{1¢ TAn%ibk fi%ed awls Fixed hai'l hiavriulll. l¢n ¥1 i. gi¥en * thc lin¢ of •r IrK¥)1vn inw lh¢ rLnancial 51alernents in 1999. Sulxqwlll addiLiDn5 aTC illLludLTrd al C05L. Depretliloll #thd #morttsAtIo rkpr¢ciaiw)n is prtbi'id¢d on wgibk fixwj ¥$ OIT th¥ ur Iw an). lZted T¢sidual valu¢. OV¢T th¢W¢¥ed uxful c¢thxyni¢ lif¢ as folkni Frechold buiidiny ann EXp¢ndLW on fixed as%ts is wi11 is marial w th¢ fman¢ial sthmc Flxtd us¢1 in¥utm¢¥Jts ixed investhty. Nher proErarnm¢ r¢laJ inve9rn¢n ar¢ in¢lvd¢d #i mathi baillnce shed dale. Realised gains an¢J losses on invemments are cakuLid as the dilTcrence salLS protceds d their market Ydlue aL ofthe )rar. or their SLIrql COSL al atc charEed or credikd Stlliemenl oIFinan¢ial A¢ii¥iiies in the ofdisp)sal. Unrealied gaiNs k)55e5 tLyrrynL th¢ v¢1 in m•rk¢i v¥luc5 during th¢ j¢4r •twl w¢ Cr¢dI thurg¢d w th¢ of Finan¢¢al Athiiiii¢s b8s¢d M ¢kma¥"d waluc * thc ycaru Cxsh and oqMivltnts C05tL and ¢ash cquivalcnts harnl call and othr srNenn hi8hly liquid ¥nvcsun¢nts thai ar¢ ¢Onv¢rtilt a kty)wt) of tssh and insi8n1rI( risk. or Burrowings lnre.berin@ I%)rr1n8$ arc ini1411)' r¢¢wthd • fair wal of iTansathioTr IN¢rcatharing bom%iTS sUbwuenY conicd al arnortid COSL with ditrLYencc thc pr0cec( nci or Iransatlion C05L& and thc amouni re&mpLXm bcinB tEcognised &% a charye LO s'ment ofFitWlLial Aciiviiie5 0v¢r * r¢riodofth¢ T¢kvani irr{ing. In[¢ ¢xpnse is knis ol. ¢lTethiE ittttrtst ZNI is in¢lu&d in irti¢rc# payab and similar ¢harg BorrownES ar¢ ¢ltssifi¥d liabili11 Ik- (awiii. h&% an thIndItional Tighi dercrllernl or lh¢ liability ]¢ast tWElv< mDnths allcr thc da.. Page 15
John Mt112ies T1 for Sroths College and Caiholie £duellon Notes to the Flnneil StatemtDts for (he Ymr Epded 29 February 2024 {eoD¢lnued) Fund JlThctKrc Ilnrc%ificLLd funth 4r¢ 8¢n¢r¥l art availk for use * th¢ dttion in fUrthCe¢ or th Iksi8n4l¥d lund$ ari nri(d funds •si& Iw ¥rt¢if tlK' L'11Vn ofthL' tsu%1. K¥thfi¢i4'd funds only us¢d lorpmitthlxr restri ¥poS¢S Ihc (bl'th ¢hariiy. R¢stri¢tions uri%c 114K'n ir&rifiLJ by thDor or wh¢n funds aT¢ rald lor parti¢ll1 pr- I'inJncial llnd financial liibiliii¢s w¢ r¢¢oIni the thoriiy ltomcs ll rwi) io th¢ Crydl¥ll1 pr0li14ii)n4 i)fil insirum¢ni. l-.inun&iAI lbilitI(• otyj cquiii. insiruments v¢ rlwifi¢d a¢cwdiThg subAn of controciual ottangL'mLmL% enlcrcd inro. An cquii!. insthLm¢ni is arby conva¢i ¢i'i&n¢4% * r¥%idu•l itt Ihe &lLS or Ik. chvriiy Uticr ¢kduffliry all ofits liabili All linan¥i&l sxi4 and li4biliii¢s are iftiiially lli imsllclion rrticc {includini iT•¢ty•¢iion ¢ostsi. ex¢epi ror thox financial asxxs ¢lassifKd Is li fair vlue thffju8h prufii or 10$5. whi¢h Irc iniii411y m¢45ur¢d fair valu¢ Iii'hi¢h is Thjrnull). the Iransaeivx pice trIn$in W$). ynl¢ss arran8¢mcni WTrsiiiu a rinaTrLin8 In1nlIv. Ir an irrw@¢m¢ni ¢0nAiiyKs • fin¢18 th¢ financial assd or fillcIal Iwhility i¥ ffl¢y¥ur¥Yi M the pr¢xni v•luE of the fuwr¢ At a MIL% gf irttu¢A for 4 similw d¢bi i1rUm¢1. Fin¥n¢iil ¥NI li•biliiirs wr wly olTxi in thc ¢1 orr¥Th•Ill p)iiiion and only thcn there ¥Xilts a k8lllly enrn¢lbk righi 10 s¢1 oifux ¢0&nId and lh¢ clwiiy inndx eith on i I)1 4)1 itr tL'l¢ assrl sdilc th¢ likniliiy simulwL¢uusIy. I.'ithknci414su ar¢ d¢r¢cv8nised and onty Mthen 4) wnuciual rights ihe cuh from th¢ linanLi41 ¢xpir¢ or uc sciilcd bl the ¢harily tran$fcrs w arnthcr prtY 5ubsLrynlially 411 of ihc risks and fL.W4 of wrnhIp of ihE financial &ss¢i ur c) chwily. despi hav4n$ wm¢. nol 411, ¥iBnili¢tht ri$ Ind rrwatth ofownershifv ILts trlfer[¢d LY>nuDI ofik aYl io pmy. Fith¢i41 li•biliiiu Ikr¢Il¢d Ik ow181) ¥y¢ifd in th¢ CON ix dih•r8ed. un¢elled r ¢xpir¢& InvM¢n sn n0COnLY1l c wtfereKe shues or prLfcrL'nce (thr¢ ¥hw drL' pbIlLI) tra(k.d ur iheir fair la1. 15 Tc11al. mcasurnbk.) aTL' Lur¥ l¥ir %¥lw iliwu¥li ptvfii or lo5& wh f•ir %4ly¢ t¢ lIab. inv¢ments w¢ ffl¢AsuthI * ¢0 kss impivrt*OL Pw16
John Mtnzies Trust for S¢otus College and Catholi¢ Edwcatio Notes lo the Finan¢il Statements for the Yr4r Ended 29 February 2024 (tontinved) ThL chariLy uscs d¢TiYaiLN'C financial i]Ments to rniiuce exrA)5UTL' to fureign cxchan8c and ithlLL rd moirments. Th¢ charity. ¢kn noi hold or is9 dkYi%?iii'¢ finanrial In5m¢n for St¢1livC purtK>S. r)erii"iie5 arr iniriall!" TccO8nid a lair l.a1. at the da a d¢ti%'aii%"¢ ¢4)ntrnrl is ¢mwed In and arc bqll¢nily TL'mcasuted 'IT fair i'alue ai rLTlg da. The reJmliing gain or loss is r¢¢ogniscd in stsrnenE or rinaThcial activiiies i¢nmedial)' unlcFS ihL derivaiivL is des48nad and cllirLii as i hedging instDJm¢nL In i%hi¢h etytni thL liming of thc rLxo8n&ivn in SW¥'miTri or riftan¢ial iiI"iiiw depends on thc natu of th¢ hedgL relationship. Fttlr 'I'he IKs1 e%idcncc of fair value i a quod wi¢e for w idrniiral ass in an a¢¢ii'e maTkiY. When quot¢d pric¢s arc unas?ilablc. lh¢ price Dra Tcccnl Iransaclion fiw an idcnlical a55CL PTOI'idts c%HILllcL' ol. fair valuc &$ k)ng Ilw¢ h85 noi h'i'th a signili¢ani ¢hatiB¢ in ¢¢ornmii or a signifiwii lJps¢ of tim¢ Sin th¢ Irarn%at¢ion tsjok place. If the maTkd is noi adi%'¢ and r¢wi ¢ransa¢tiiMJ% of an ideniical awt on their are not # 8wJtMIMa of fair I21. the faw Tmjuc iseximad ty $7 a I'alllalion 2 In%'¢stmet I'#tf5trkic fumd5 GtR¢rl Tothl runds l)LP)sii accuuni inr¢ T)i¥id¢nds WLX'II'L'd 6.527 6.527 163.179 16.1.179 TotHI f•r 2024 169.71)6 169.706 Totsl f•r 202J 16i.8il 163.1131 3 ExptTrdlt• l Dr¢strirtwl Tot•1 olt Inveamtni maTha8erneni fees 50.394 Totsl ffjr 2024 50.3Y4 50..194 Toiol f•r 2023 51.008 51.UU8 PJ8e17
John Menzla Trust for &0ts5 College and Catholic Education No(eJ to the FinaTrelal Statements for ¢he Ye4r Ended 29 February 21124 ((ontinued) 4 F.yprndituft oth tharltable acihlti I'nT¢S(riil ltitl C¢Th¢r#l r)irLKI uf¢lL4rithl¥ J¥lLVIII¥> Cjnni po%able'.'fik. S¢ryiuish CaihibliL.Wiiw lir4ni pll!"abl¢.' CTh,l-.T 12.374 98.722 y%.72? 131.513 12.297 Tol41 for 2024 ¥1.150 91.850 'roll for 202) .176.318 .176,318 'Th¢ Ibo%'¢ 8r¥ni p4yrr¢nL5 Tn.$ 4r¢td grds ¢0 InAl110n$ w provi&. ltitsds li)r furth¢r of Cli11¢ and fDr th educ10 of 48rttd ai a m¢¢un8 or 'rrusiees oty In nnu81 bsi CrUi"trnntt l oresirkltd Toithl 2.907 4.695 4.695 2.W7 4.695 4.69J 1Th¥ ol'ihe th¥ri % annual ¥K¢ounts TDl•l flir 2024 12.297 12.297 I'tytl for2023 ILI.4117 10.497 6 1'rustoeJ remMDeratlon and exptA u IruSre Irty wAh rweitrrd •n!' reMurnThn frixn th¢ dwriiy duTinK th¢ )'Lar. No Iwus¢s ha rkxYiv¢d •n)' T¢imburs¢d ¢XP¢r orY ththaiily thirinB ihE year.
John Meftzies Trust for Scotss College and C*tholi¢ Edw¢10 Notes to the Flnanelal Ststements for the Year Ended 29 Februllry 2024 (tontinued) 7 ToX#llOIt ThL clwii). is A fc8i%Ecrcd ctwity and is fD)m t&¥atiDll. 8 F£d ajsct IDVUtmcllts 2074 2•23 7.198.308 7.051.478 P¥e 19
John Menzles Trust for S¢otUs College and CAthollc Education Notes to the Fin4TrciAI Statements for the Year End¢d 29 FebAry 2024 (conilnued) Othcr lThveJtmenl% l.tsl¢ ( ur I'xluutlon 6.094.(>59 125.169 800.115 956.8llJ 7.051.471 143.877 ?21.547 isp¢)sals 1¥O9.5YO) .IL 2¥1.L'hruurn 21124 210.353 987.955 7.1911.308 Ai 2¢) I'L'briian' 20?4 0.2 ID..751 987.lJ55 7.1911.308 AI 2Y l-'Lbruurn. 7021 0.094.659 956.819 7.051.47R IJ D¢biurs 2024 ZD23 JU.450 2.401 her dehiors 5Q.4JO 2.401 lil C'AJh And CAh ¥q#lvAltnts 21124 2023 L&%h tsi bfjnk 740.128 371.785 l (.'redl¢orA'. #mibunts l#lllnq '5th1n ont >tr 21124 iOZ3 7ri.514 59.760 12 Pa8¥ 2
John Menziu Tru51 for Sco¢u5 Collete and Ctbolie Education Notes to the Financial Ststements for the Yur Etyded 29 Ftbrnary 2024 (continued) Includcd in RLwurtes e¥rKm¢kd kkni" is balncL' I01 for1d from v¢8r 0vlIng 10 £7.365.90412023.. £7.805J871. Oiktr r¢¢ts¥DLs¢d Bl¥nc¢ ¥t 2Y 1tyslllusSCs1 Ftbruirv 2024 rtpendul Transft¥5 ('Dresirirf¢d funds <1<Y111 169.706 7.)90.656 1726.1611 .156.( 7.190.101 Ik'signated 726261 726.261 Total 169.7U6 7i90.656 356.[ 7.Y16.362 Rc50urcts ¢ip¢Bd¢4 Bal•D¢¢ •t 28 Tra•5ftvs F¢brM4' 202J [IAresir•¢trd 163.831 7_1073 172L)61) 639.IA3 D¢signa*d 726261 726.)61 Totsl fonds 7_70? 073 7J65.904 Page21
John Menzies Trnsi for Scoths College nd CAiholic IYole5 to the Financial Staiemettts for the Year EAded 29 Ftbrnry 2024 (continued) l)¢signtrd b¥Dd¥ TX'si8nat¢d fu5 rLVLni amounts Set lde bv tk. Try1$ fmm . rKo¢ecds of the knius Colkyc sak for sp¢Lifir future thdrIble purww-5 in mcwrd¢¢ i%ith Trus¢ decisiL$ math in Prior) . (k'si8nad lund mainS £726261 12023.. t72626ll. No 111] sIxnln5 or [¥1¢5 m8&. during y¥ar. AlibM¥ugh dtsignatL& Ihe fcTNain part of unrLric&4 reservcA miy . r¢aliocd di5crdion of Ehc Trus shwld circymsthnccs r¢quire. Gains and Iossc% inVCsknLy comwi5L Iwh TEalild $Ing disposals of IiqL'd invLsimcnts and unTrxlid yin$ grisinK from Ehc rEvaj10Th orth¢ Inlml rn10110 fflwk¢E valuc ai th¢ vw ld. Dlthg the %ear ¢rthl 29 FtbwuaTh 2024. Irall gains amound £23.120 12023: £18.975). In addiiioth. gaiths on rt¥lluaTh broliD £143A76 12023: Wall.d gaills or £157.5131. Thes¢ mov¢mcnts r¢tlect wrOllO nwwgfm¢ni a¢iivitY 108th m#rk¢i durinB It year. Other Reeoyittd CAlns iwd 0 rr¢O8nld 8•in$4nd k>svs r¢pt¢xni cllp1 rceipLsnoi fonning w of ini"esuneni wifdi(b. During ye¥. th¢ T¢w( T¢¢¢ivcd £356.0 (2023.. £nill arisin8 un(kY thE rn1s ofihe &velweni aKteemcni in rlpr¢I of a11108] dev¢k)pabk land u B"r$ Esw¢. Thi4 f¢¢¢ipL has recoBnised as a capitsl Bain in y¢•r of tcccipt. 13 kelsted pArt) tr510 During the )'ear thc chariLy the followin8 rtknd war1)5.. C.IYV.T ThL EnLLees ofthL John ment.K Tru5E foT SGuiUS Culk.8e •¢1 Ca1•¢ Edu(MJD ar¢ also ofLNET lalso kno as tr Bisknps Confcrencc ofscoiLqndl. Durin8 Ih¢ )¢ar thL' T*w¢ rt¢%ii'¢d a grnni Pym¢nI of£31.54J12013: £nill rtDm LYEI" in relation kn the 2022 grani un(kr5wd. Th 81 apwDv¢d in xcordw¢¢ with th¢ Tnw"5 rnal g(Y4'ernance pnKedurcs. No balun¥¥ iY4s uut)thndin# at dK' JLYrcttd 12023: £nill. Pa8c 22
JohD Mem21es Trn$t for Scoths College and Caihollc Eduutlon Del4iled St•¢¢menl of FlnAn¢knl Aetlvltles for the YtAr Ended 29 Ftbrllry 2024 loi•l 20?4 201J lu¢wmr nd koduA"menis from: 169.7V6 163.831 To¢ul in41>11K' 16Y.7U6 163.831 F.xpcnditurc o#-. 1511.3Y4b IYI.R50) 151.LH)81 376Jl¥ 14? ?44 427J20 N¢1 inLiini¥ll¥ip¢ntliiur¢l 17.461 1261.494 27.46? 1261.4931 Rteon¢llStkJn of fud$ 7.365.9f 7.805.887 l-u11 fu1¥ li)rn¥d 7.313.31 7.542.392 Thi$ &s Mt form 1 ofthc fin*Kial Aattmcn Page 23
John Menzies Trust for Seotus College #nd C•tholi¢ Education Detailed Ststement of Financial Aeth•itles for tb¢ Yur Eded 29 February 2024 (continued) Toial 2024 202J I15111¥iti Iiicojiie 16.I.17Y 6J?7 16_: Inter¢%1 $h dL'Ph.%IL% EndUii'niLl.j'ru iTrl'Rf 01-A-rjLK 48¥ 169.71K> 16i.a31 AdMilNI111 Ol'itnLnls 150.i941 Il l.(X)¥l Choiiitybl¢ o¢1iviiies Grdnl tXL)dhk.: Rld¢r% mlL'um (irnni PL>llhk.: Th¢ kN)Ili4h Caiholic Archi Cjrnnt pa)ablc'. C'NLT l.ibrary 'gal ILL Prol¢%%ton?I f¢4.% 159.0201 {1.0261 2Y8.21MI 17.5751 198.7•2 18.2641 {4.69iTr 14.440) 4.440) 376.3181 The aj11 of1 L&riii s annual a¢tsj (91.8501 Thi$ p48e d5 ofthc fmarKial aa¢un¢nts. Pw24