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 Administ￿11.¢ Dctsiih 2b)J OfTru¥W￿ R¢y)nsibililK5 E%oniineVs RerA)n 7wll Bokn¥'4. She¢1 NO￿ w thr Firbu￿.1ll s￿￿M¢1￿ 14 1022 D¢4ikd ol'financ￿l Aaii'iii I3￿24 John Menzies T￿st for Scolu5 College C*¢holle Eduvdtion Reference and AdMlnlsiTrtlv¢ Detsils I'rnstees I1￿￿0P S knb&> ￿￿hbIShoP l. W Lu%hl¢y Bishop11 F. cli11￿rI Aishop EmcTilus 11 A Nloran riishtspj K¢¢ttin Tlishop Ern¢riiusJ A T￿1 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 Actouniir*v Limi V• P Grimky & Complloy 172 Kelvinhttu8h SEfLYt Cilassow (i3 8PR Stynky & Lo Limi*d 2 Mulir¢es Walk Si Attdrtw Sqully¢ rAIn￿1b 1113DQ SDlkltors Fjurneii & R¢id LLP l Albyn l>l¥¢¢ A￿ld¢e ABIO IBR lknnkerj l.ioyds TSB plc At*Td¢¢n 8usin¥ss & Ci)mm¢r¢¢ L¢s*r¢ 415 Unton'lett*c¢ AL￿rd￿th Afiio INJ P4el John Menzies TTU5t for ScDtus College and C*tholie EduLYtlon Trustees, Report ' In]>li*s 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'C￿h￿Ill%. IL. main $4JurLKs ol- in¢omL arL dli'iiknds bank In￿'r¢Si d¢rii'¢d ITOlli IhL Lliar¢t)'s in￿51￿CAl$ and hank d4vI￿lI$. Thbse prui'i&' 8rani support th¥, for¢8oing 0bjLCIiIL￿. In acrordance with ￿ Tru4t Ik'¥d. Ih¢ hdvL IIK. PDiver ￿ makL ini't#mL'nrs they *LI' fil. A5 511£h. "rrU￿ lias inv¢siL'd lundb irt iu*' and mediurn risk Ini'¢Jnicll￿ i.¢. goimMmcrti securiiies IJK.4N>Lks. Thc lund is managed by LhariL% Swnkry & Co LtMi1¥￿ iviih u liciv to maximi.%in8 Inco￿￿. wilh a li￿.1 of iapiill pprL'LiulioK. I'￿ tru5t¢¢s ¢&r¥lully Li)ll5i(kr thi mordl Llliical suitsbiliiy ol'th¥ s¢u¢ks in which di¢y itLVCSI. Pwbhc benefil -rhe John MenLies TTU5L PToY1￿.% public benefit bj adi'an¢ing and supportin8 Latholic m< for thc I'car ivas E16Y.706 12023.. £16i.8J l). Towl ¢y￿0￿11￿r4 amounted iu £142.244 12023.. £427.3261. cumprisin8 invcsimlni martagLYnClll cvsis 01. £50.394 12D23.. £51.008). ch8ritsblL' dLii%iiies or £79.5i312023.. £365.8211 dnd go¥'L'man¢c tosts 01-£12.211712023.. £10.4971. 'This ￿'sUl￿d in a ncLsurplus kK'furc 8HiftS And los￿.5 of£27.46212023'. nci dcficii £263.4951. Durinu Ihc year, ttti gains on irti't%imcrtt% i)1. £166.91)6 12023.. to>￿5 £176.4881 i%trt recogni.%Ld. The*. ¢pmpri¥¢d T¢alis¢d gains (11. £23.120 gains of £143,876 arising on th¢ r¢valualii)n vl. lis￿d inves¢m¢thL% ￿.1￿ ai Ihe i'Larend. avernll, Ihis resulicd in a n¢1 m(Iv¥rneni in fun(Is of£550.458 (2023.. n¢1 d¢¢￿1￿ £439,983). Tokj futsJ& carried forward dl 29 FL'bruary 2024 WCTC £7.916.362 {2O23.. £7.365.9041. Ai the y¢¥r ind. lh¢ Tntsi hLld lixed ass¢1 invcAmcniS wilh a t)L'i val￿. of E7.198JO8 {2023.. £7.051,4781. Cash bal4n¢¢¥ Iv £746.128 12023.. £371.7851 and 8￿n￿d inwtn¢ of £50.450 12023.. £2.4011. Th¢ Trus(¢￿ consid¢r th&1 ¢hL' Twsi ioniiDu¢s ￿ mainiain adtqU8* liquidiiy iu m¢¢1 its on80ing wmmiimcnts and aniicipAttd grani-m8k-in8 requ1￿Ments. Vl*n$ for fulur¢ pe￿0d5 Aivu 4ndkey obieaiwe5lorfMl¥pepenods The Tru5kes intend to L￿ni1￿￿e ihcir PDli£}' of mainlaining a diversifiLTrd invLSim¢iii portfolio ID ord¢r TO 8¢vrwf incotne and capithl gro1￿h ￿ suprAJrt the charitable purtx>ses ol'lhe TrusL Th¢ T￿￿ will coniinuc io twvide fmanciJl &$sislHnc¢ appropriaLC Clliholic charitsble Ix)dies. includ¢ng suppurt for h¢ritag¢ and archsval prcs¢rvation and fijr th¥" corklinu¢d dcv¢h)pmcni and tO[￿r¥allOn of t31aits Museum ￿llectiOn& Th¢ TnJ5tr¢5 aNi¢ipa* Ihai furihcr uplift receipts may aris¢ in y¢4TS in r•¢¢t of the B￿11$ 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%. N*i*re OJI￿VeR#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¢ ex1￿1n8 tnL4¥Ys and thcri is nD withjlai qu¥lificaiion ￿ be a IriL*rcc. 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 ofsroU*nd. •Jtr*srees TVU￿cL.s are aivdrc of Ih¥ir thiie5 •nd r¢wn51￿"li￿ ID r¢I￿lon ￿ gDwtM*n￿. 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'rt￿1 fumd. Tht da>. io day mainlcnanccolthe recorytsoffv Trux 15 uThkYthken b) Burncii & RCIL th TntsfssolKiior5. Ohiecffiv￿1V￿dp0 ThL Cl￿ty'S aCEiY1I￿ IE w a numbcrorrLnaTL¢ial rssks in¥1￿1￿8 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￿[ th￿￿11¥t finanlial illSLnunenrs fors￿l3111.¢ P￿P￿s. 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 fo￿l￿ uthng¢ fon¥¥d coMr*ts and itthst ratc sw contracts th IKdge IhL'sc exr￿￿rts Ivring4%8¢ts liibiliii¢s4r¢ bcld * fixed A* IOelL%IWE certainty ofc&th 'Thc Cl￿￿1)",$ principal finaTrci&l &￿ts ar¥ trfJan¢esatyJ L*th. 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 dtyTrv*iv¢ rity*r1￿ 15 limi*d b¢¢aus¢ the ¢ounW￿$ banks with b¢8h ttrdilTarinSs￿18rd b). in*1[￿[lO￿al creiEii-raiing 48¢n¢ie> Th¢ ¢harily has no si8nil1￿l of cr¢dii ￿¥th ¢x[x)Su￿ $￿t*d ovcr a iu8e TrAmbcr or Llq¥Hlty iiJ* Jn otdcr lo maTniain li4uidiiJ to ertsure that surrKicni fuThJs ar¢ ai'aslablt for othgoinB 0￿ra110n5 fuiurc d¥.V¢h)pM¢n￿ th¢ ¢hariii' us¢s a mixllue of kn)yem) andsknrt4crm (k4%t ftnantt. >urtlier details r¢gaTdin8 liquidiry risk Can bt fO￿d in of accouniin@ polic￿ in thc finan¢ial sts*metLts. Reappoiiimeni of Audiiur Thc auditors ClienLS 14 Accounthncv limiKd i* leap￿in￿d und¢r 4411 M¢) of th¢ Chakriiies and Tnw¢&' ISthWI Act 202). P88¢ 4 John Mellzies Trust for S¢ots$ College *nd C*tholle Edueation T￿￿te¢s, Report (eondttu¢d) Thc *tmuaJ repffi w&$ ap￿1¥¢d by th tsiJs*(softhe ¢h•rity on 17 Mar¢h 2026 on its bEh￿rby. Bishop E G¢li%rt John Mtnzles Trust foy Scotvs College and Cgtholic Educatlo Stsiement ofTru5tees' Responsibilities Thc Lrus1¢¢5 ar¢ ￿￿K)n$1b[C for tbr¢parin8 lh¢ Intstees, rctKIrt und ihL' linan¢ithl Siuw'J￿Tr(s in w'llh IhL' Ilai*d Kin8doin A¢¢ounii118 Sthndards IlJnii¢d Kinadom CiLnLrall)' A¢￿p￿.d Af¢ouniin8 Pra¢11￿) and applioublL. lam. thnd rc&uluiion8. I'he law. applicllbk. Ici ¢huriii¥s r¥uuifLS Ih¥' Irusiee> lil prLpiifL' linanLial 514l¥m¥nis for ¢A¢h linaniiol )'I'ar ii*ich Bl%,¢ a irn¢ 8lld lair %'iL*%- of IhL'.%tuli' of 9178ir% ofihc charitj ond ill. Ili¥ iwomin8 r¢sour¢cs and appliLalion Trl. rLgJurccs ofihL Lhdriij for Ihal In prLparin8 lh¢￿ finHn4iMI SWlimi'This. tnJsleL'$ 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￿. LW11￿11￿¢10n. Tht IrusLW¥ 41$9 rc$p)nsibl¢ for 5Afc8uoTdill8 Ihc os*is iTrf IhL' charily and hcncc fDT thkiTh rrth)n4bl¢ s*P5 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 I￿lUded on thL ch411￿bIl 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 Ex*mlneVs Report io Iht trustees ofJohn Menzie5 Tru$1 for S¢otu$ College and Cathollc Edy¢4tlo We hBv¥ audi*d th¢ fin4n¢l￿ ty￿.￿¢￿ts ofjohn Mewiies Tr￿1 for Stolus CullLgc 8TrJ Caiholic l.Alucaiiun for l'ear ¢ndcd 29 FtbruaTh 20?4. iithich wmprisc SEa*mcni ofFinancial Aclll'iiies. Balance %he¢i and Ih reiR*d nO￿￿'[he finan¢i&l rc￿11￿8 frnmew)rk. has applicd in *ir p￿p￿￿tiOn is dpplicable law Financi41 R¢rAJrtin8 SE*ndllTd otvlicable in IIK and Republic uf IT¢laThJ IFRS 1021 (¢fl¢c¢ive l Jlrtuary 20151- Ichuriiies SURP IfRS 10211. QU￿11r￿d opInM￿ on Llx" finurK'ioI stsrenK'rt% lth our OPithiLth. LX￿11 for thL LIT¢¢￿ of i￿. m*ikYs 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$ r￿￿7¢$ for lh¥ ye*r LhL'th crtskd: ha%¢ prowly prLwfL'J ith *ctw&n¢&' *iih UnilLyI kin8th)ni CKMThll> P￿11&￿.: Iw%¢ ￿rL.￿red in llLLiirdu￿l willi IIK. re4uirLThMmlS VI'IK. ThaririL'S I.rns￿ In¥esimeni i kn1114mdl Aci 2(K)5 Jnd rr8ulwion 8ofih¢ ChariiK¥ A&x%>unts I￿l￿n￿> R¢8uLgl￿n$ 20￿195 ftyr 4uilllled •plnlon •• Thert %%iS A subslwilial d¢l4y I￿1￿¥¢n th¢ linanc￿l l'ear •rA thc wcpmiM)n orth¢ financial Thi$ r¢sul*d in ivailibility of¢on*m￿￿￿KIJJS documen￿ty)￿ and ¢xpL1￿*1n￿ produ¢in8 ¢Aimaiion nttnainiy and cvidenual limithiior Llmited 1Aforma¢ion m*dt *v•ll*blt11.IMl¢ailoR of ￿tsPe> Ae£ess EO ￿0Y￿11Th￿ and supFMin8 thxumenwiion in¢ompk*. Cernin 8r4ni prymeni dOcum¥￿￿1￿n *trL' w*%•ilable. r¢¥ri¢linK our 4biliiy ￿ ¢O￿lUd¢ on dir¢¢¢ ioTrU￿*t 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¢ I￿4￿•rick iuKYn*n¢e ￿tr$48h￿ and ttsnfmTh p)mplctrn¢¥ g1'diKlostsres l¢Trcludin8 ￿lI1¢d part￿￿>. above m￿￿r5 rewliLyl in • • qulifKd wjii winion forthc yellr eThJed 29 2024. 8¥.7 John Menzles Trust for ScotU5 College and C4tholl¢ Education Independent Ex4mlner's Report to the tr￿51¢¢5 of John Menzles Trust for S¢otu College and Catholic Edlleatlon (Continued) (.vncluslons relatin¥ Roing eonecr A$ 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 I￿￿1%. 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¥ financ￿1 *IuiL'rncnts r¢uihori5od for issu¥.. Thi finoneiol SWlL'mc*i% h￿%.C b￿n P￿pil￿d on a 80in8 bosis. .hiLh WL. considL'f AppNJpfji￿I. 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 lhe￿n. 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 ma￿lIallY M¢hx￿lk'd ID lh¢ finan¢iol st1￿Ments or 8 mgierial Mis$￿￿ML,ttI ofthe oihLr inlomiailon. Ir. bllsed on Ihe WL. have perliJrTh*d. w¢ ¢on¢lud¢d Ihii I￿r￿. is i miitrilll mis%L1￿ME￿I uf thi¥ (>ih¢r inftsmiaiion. w¢ ￿￿ulT¢d th¢ farl WL have noihin8 10 resx)rt in tht% reyrd. Oplnknn othcr milte In ouropinion. bBsed ih¢ under1¥k4￿ in the ¢oursc ofih¥ audii.. I￿. infiimiuiiviL ¥ii'¥•li in Ih¥. I'ru51¥¥5' R¢w>ri fur Ik. lillunciol >4ar Ivr MhiLh lh¥ finHn¥i¥l SlJl¥m¥nis ar pr¢pored i.%&y)nAi5lini ii'iih lh¢ linaniiul 5lill&inellts'. thn Il* Trt￿l¢¥$' 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 T￿st for Sco¢u5 College *nd Ca¢boli¢ E￿￿￿tIon Independent Ex*Jnin¢r's Report lo the trusttts of JobD Menzles Tn￿t for Scotus College and Catholic Edueatkln (eontinued) Wc have nDihifig WE￿￿rt 111 IE¥KCI Df the (D1kn￿￿8 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￿ [L￿NI￿L* hai¢ thlii kn.n N'iwns adLwiiaiL- for vur ¥udii rcLYiiYd linm brdiichLS IKIL l'isircd ￿. ILK iir havL' Lwt reLYiS'nsibiliiies IseE oui M paB¢ 6}. the tr￿tt$ 4r¢ rtwsiblL Ih¢ prLprali¢Jn ufth financial and for tha¢ IhL'y givc a truc Imd fair vr¢M'. We h•v¢ •p￿i￿r¢d ts audiLW5 in with s¢aion 44(11 c of Charitics znd Tr￿te¢ InvesimL'ni {ScotLw￿) A¢1 2Q)5 and T4YM th accord￿ wdh thc ACL (￿tr T¢spJthsibÈlii)' is w audii th¢ linancial SEll*mEllLS in ac£ordantt arvlicabk and Intcrn*K)Ml Sknndxrd5 Audiling IUK and IT¢landl. Thos¢ swtthrds T¢quir¢ us w ￿P]y with tr A￿j1¢￿8 Prxti¢ts Roard's IAPTI's1 FJhi¢al StrNlards rorAvdiw S¢op¢ of Ib¢ *udil ofihe fiJ*nti*l S¢¥l¢u￿¢S An audii ini'olvts obuining CVid¢￿ amotsnts atyj dis[￿￿rE5 rtA￿ClaI suificieni EO 8iv¢ ￿a%)nable assuranr¢ that the firtrancial sTa*Me￿l8 art frtc fTOm M￿cTial miSSlalcmthii. *kth¢r ¢auxd by rTaud or ern)r. This ixcludLS an &55L.￿5men1 of.. the accouniin8 ￿lIc￿ arc apwopriaic LO charity's ircum5tsnc¢s and h•i'¢ b¢¢n wJ$istentty a￿lIed a￿] adeq￿I¢lY dis¢ios¢d: Ihc r¢850nabkn￿ of signifiL7lll a¢touniin8 ¢Slima*s m￿, by the and the ￿￿ra11 pr&￿tal￿n of financial stskmcnts. In addiilon. r￿ all thc financial a[￿ rA)n-fuL4nciaJ inf(KrnaEion ￿ idenuly rnaieri&l inconsi5￿.￿ClLS w7th the audi*d rin8nci&l Sl*rn¢nts gnd ￿ i(kniify infor[tw￿ ihw is 4pw¢Nty mai¢rially iwrrLxi b￿d orL or maierially in¢ortsist¢ni WI￿ know]ed8¢ acquirtd by ￿ in the course or￿rfo￿llt￿ th audiL Ifmr i%comc awdre ofany appaTrnt malerial jniss￿lemETrts or irKon%istencie& CO[￿￿der & implicalK)ns for our re￿rt. A d4wioion ol. Ihc s¢U￿ of an audii ur rManc1￿ is wovidcd in APB'S w¢b5i￿ ai Our obiedives are 10 Ob￿7￿ ￿e￿nab￿ akwtoncc thc fwLincial ￿rnents ￿ a wholc are rTom mat¢rial mi&iiaE¢menL w4*ilK'f due to fraud or ¢Tnw. aTrJ w iw an aWJi￿r'S (C￿rt th31 includcs our orAnion. R¢a50nabk assuTan¢c is a high ￿.￿1 tyr bul is a guarartth¢ Ihan an audii 4Jnduc*d in ¥¢cordanct wth ISA5 (UK) Mill al*•'s de*d a ma*rial misstatem¢ni whcn il CXiSL%. M]%5tsk¢￿Dl￿ fati ari from fydud atyj error and arc ¢onsidcTed rnateTial. if iThlii'idualty or in the aggrega￿ they could rea￿ttablY I CXTKucd w int1￿￿Ce thL' CLYAHThiC this10￿5 Dr￿¢15 &enon the Ixsi5 oftkn fi￿claI xamcnLt ITre8ularilie& irtcludin8 Irnjd arc ir￿￿￿(($ of Tr)n- C(wThpli4nce laws and rLzulatiots We (ksi8n prncedu￿S in li￿ %%iih our re5r￿sibili1￿ uuilined akn%r. ￿ dc*ci matrrial MissEatcn￿nts in rewi of irrL'gulariiK including Fra￿1. The ￿￿tent our prttedures are c4J8bk tbf d¥y¢¢iine irt¥%ulariiiLS. includllLg fraud. is daail¢d John Meniies Trnst for Sroths ColleEe and C*iholi¢ Eduution Independent Ex*mlneVs 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 di￿1)sur¢S in Ihc fin•r￿lI1 Aa*menis are SuiLYIiL'ni% uf RLLvrnm¢ndttl w11¢￿1¢ w Ch*riiKs 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￿$10￿M￿L dut ty) fr*d by ¢xinsi&rin¥ th¢ fi¥iu￿ ofthc '[n￿l'S 4¢¢iviii¢s whiihLr Lxrtain ar¢&$ 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¥)•i￿rIng LX)mplion¢c ivith and rc4ul*w)ry4. Wk ilw LThs1dL'￿j risk or rrnud thro4h of iwnwol* and ￿ r¢spJnsc. rcvi¢wrd rinantlal rec￿* foi unwll tr￿￿110￿% or * %wi*f•Ewry ¢Xpla￿1￿)n. No sKh i*fns 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 thL*h in #n iudiwr s •rvJ for w oih¢r purp)s¢. Tu lh¢ fulk* ¢x*ni 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 Cenifi1Ol¥mini%l h#%i ix*L+n p￿.P￿TL.J uN￿'r Ihi hiilurilal c051 conN'enEion with ilems Tecu8niSLTrd Mi cost or tr8twtion value unl¥ss oil*Twse stsfrd in thL' rclcvatti r￿le{sI to these accoun Golng ton¢¢rn The trnsiees ¢uns¢der Ihii IhLfe #Te M matrrial ￿nc￿￿￿1￿1•ES aknui th¢ rb4riiy¥ abiliiy 10 coniinuc as a going ¢rn. INtom¢¥Dd tUa￿v￿¢￿I5 DIVIdet￿ arl, ￿'¢08￿l￿d on¢e Ihc dilidcnd has IK*'n dLclored and notifL￿tIOn 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 altri￿1(¢￿ ¢0 pArticular headings th¥v hai'¥ ￿.￿n alloLaicd Vn consisltn¢ with the usc ol. r¢sour¢c& with ecnts81 stall. ObLS all￿￿1￿%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 in￿mi, IhL Mat￿8¥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. GMnlpr￿vi￿￿lls 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¢ C*tbolle Edueation Notes to the Flnancl*l Ststements for the Ye*r Eoded 29 Febrnary 21124 {eontinued) Go%trn¥nr¢ costs ThL*' intlude ¢osts auri1￿&ble kn iht ¢h*riN' s ¢iNnplian¢e iiith consti(Ution*l aatiiioo. r4Y4uw¢in4Th* i￿l￿dIng 4ydiL sir*¢8i¢ m4rAg¢m¢m I￿1 m¢rfings T¢imtwxyl ¢X￿Tr￿. 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. Depretl*iloll #thd #morttsAtIo rkpr¢ciaiw)n is prtbi'id¢d on wgibk fixwj ¥$ OIT th¥ ur Iw an). ￿l￿Zted T¢sidual valu¢. OV¢T th¢W¢¥￿￿ed uxful c¢thxyni¢ lif¢ as folkni Frechold buiidiny ann EXp¢ndLW￿ on fixed as%ts is wi￿11￿ is ma*rial w th¢ fman¢ial sth*mc Flxtd us¢1 in¥utm¢¥Jts ixed investh￿ty. Nher proErarnm¢ r¢la*J inve9rn¢n￿ ar¢ in¢lvd¢d #i mathi baillnce shed dale. Realised gains an¢J losses on invemments are cakuLi*d as the dilTcrence salLS protceds *d their market Ydlue aL ofthe )rar. or their SLIr*q￿l COSL al￿ atc charEed or credikd Stlliemenl oIFinan¢ial A¢ii¥iiies in the ofdisp)sal. Unreali*ed 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 oqMiv*ltnts C05tL and ¢ash cquivalcnts harnl call and othr s￿rNenn hi8hly liquid ¥nvcsun¢nts thai ar¢ ¢Onv¢rti￿lt ￿ a kty)wt) of tssh and insi8n1r￿I( risk. or Burrowings ln*re￿.be￿rin@ I%)rr￿1n8$ arc ini1411)' r¢¢wthd • fair wal￿ ￿ of iTansathioTr IN¢rcatharing bom%iT*S sUbwuen￿Y conicd al arnorti*d 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 i￿rr{￿ing. In*[¢￿ ¢xp*nse is knis ol. ¢lTethi*E ittttrtst ZNI is in¢lu&d in irti¢rc# payab and similar ¢harg BorrownES ar¢ ¢ltssifi¥d liabili11￿￿ Ik- (awiii. h&% an thI￿ndItional Tighi dercr￿ller￿nl or lh¢ liability ]¢ast tWElv< mDnths allcr thc da￿.. Page 15 John Mt112ies T￿￿1 for Sroths College and Caiholie £due*llon Notes to the Fln*nei*l StatemtDts for (he Ymr Epded 29 February 2024 {eoD¢lnued) Fund JlThctKrc Ilnrc%ificLLd funth 4r¢ 8¢n¢r¥l art avail￿k for use * th¢ d￿ttion in fUrthC￿e¢ or th Iksi8n4l¥d lund$ ari ￿n￿￿ri(*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¢ ral￿d lor parti¢ll1￿ p￿r￿- I'inJncial llnd financial liibiliii¢s w¢ r¢¢oIni￿ the thoriiy l*tomcs ll rwi) io th¢ Cryd￿l¥ll1 pr0li14ii)n4 i)fil￿ insirum¢ni. l-.inun&iAI l￿bilitI(•* otyj cquiii. insiruments v¢ rlwifi¢d a¢cwdiThg subA*n￿ of controciual ottangL'mLmL% enlcrcd inro. An cquii!. insthLm¢ni is arby conva¢i ¢i'i&n¢4% * r¥%idu•l itt Ihe &l*LS 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 v*lue thffju8h prufii or 10$5. whi¢h Irc iniii411y m¢45ur¢d ￿ fair valu¢ Iii'hi¢h is Thjrnull). the Iransaeivx pice trIn$￿i￿n W$￿). ynl¢ss arran8¢mcni WTrsiiiu￿ a rinaTrLin8 In1n￿lIv￿. Ir an irrw@¢m¢ni ¢0nAiiyKs • fin￿¢1￿8 th¢ financial assd or fill￿cIal Iwhility i¥ ffl¢y¥ur¥Yi M the pr¢xni v•luE of the fuwr¢ At a MI￿L% gf irttu¢A for 4 similw d¢bi i1￿rUm¢￿1. Fin¥n¢iil ¥NI li•biliiirs wr wly olTxi in thc ￿￿¢￿1 orr¥Th•￿Ill p)iiiion and only *thcn there ¥Xilts a k8lllly enrn￿¢lbk righi 10 s¢1 oifux ￿¢0&nI*d and lh¢ clwiiy in*ndx eith￿ on i I)￿1* 4)1 itr tL'*l¢* assrl sdilc th¢ likniliiy simulwL¢uusIy. I.'ithknci414s*u ar¢ d¢r¢cv8nised and onty Mthen 4) ￿ wnu*ciual rights ￿ ihe cuh from th¢ linanLi41 ¢xpir¢ or uc sciilcd bl the ¢harily tran$fcrs w arnthcr p￿rtY 5ubsLrynlially 411 of ihc risks and fL.W4￿ of ￿w￿rnhIp of ihE financial &ss¢i ur c) chwily. despi* hav4n$ wm¢. nol 411, ¥iBnili¢tht ri￿$ Ind rrwatth ofownershifv ILts tr￿l￿fer[¢d LY>nuDI ofik a*Yl io pmy. Fith*¢i41 li•biliiiu ￿ Ikr¢￿Il¢d Ik ow18￿1)￿ ¥y¢if￿d in th¢ CON￿ ix di￿h•r8ed. un¢elled r ¢xpir¢& Inv￿M¢n￿ sn n0￿COn￿LY1￿l c wtfereKe shues or prLfcrL'nce (thr¢ ¥hw drL' p￿bIlLI) tra(k.d ur iheir fair la1￿. 15 Tc11a￿l. mcasurnbk.) aTL' ￿L￿ur¥￿ 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¢i*l 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 ithlL*L￿ rd moirments. Th¢ charity. ¢kn noi hold or is9￿ dkYi%?iii'¢ finanrial In5￿m¢n￿ for St￿¢￿1￿livC purtK>*S. r)erii"*iie5 arr iniriall!" TccO8ni￿d a lair l.a1￿. at the da￿ a d¢ti%'aii%"¢ ¢4)ntrnrl is ¢mwed In￿ and arc b*qll¢nily TL'mcasuted ￿ ￿'IT fair i'alue ai rLT￿l￿g da￿. The reJmliing gain or loss is r¢¢ogniscd in sts*rnenE or rinaThcial activiiies i¢nmedia*l)' unlcFS ihL derivaiivL is des48na*d 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 quo*d 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 isexima*d ty ￿$7￿￿ a I'alllalion 2 In%'¢stme*t I'#tf5trkic fumd5 GtR¢r*l Tothl runds l)LP)sii accuuni in*r¢ T)i¥id¢nds WLX'II'L'd 6.527 6.527 163.179 16.1.179 TotHI f•r 2024 169.71)6 169.706 Totsl f•r 202J 16i.8il 163.1131 3 ExptTrdlt•￿ l Dr¢strirtwl Tot•1 olt Inveamtni maTha8erneni fees 50.394 Totsl ffjr 2024 50.3Y4 50..194 Toiol f•r 2023 51.008 51.UU8 PJ8e17 John Menzla Trust for &0ts5 College and Catholic Education No(eJ to the FinaTrelal Statements for ¢he Ye4r Ended 29 February 21124 ((ontinued) 4 F.yprndituft oth tharltable acihlti I'nT¢S(riil ltit*l C*¢Th¢r#l r)irLKI uf¢lL4rithl¥ J¥lLVIII¥> Cjnni po%able'.'fik. S¢ryiuish CaihibliL.Wiiw lir4ni pll!"abl¢.' CTh,l-.T 12.374 98.722 y%.72? 131.513 12.297 Tol41 for 2024 ¥1.150 91.850 'rol*l for 202) .176.318 .176,318 'Th¢ Ibo%'¢ 8r¥ni p4yrr¢nL5 Tn￿.$ 4r¢td g**rds ¢0 InAl￿110n$ w provi&. ltitsds li)r furth¢r￿ of Cli￿11¢ and fDr th educ￿10￿ of 48rttd ai a m¢¢un8 or 'rrusiees oty In *nnu81 b*si CrUi"trn*ntt 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'tyt*l for2023 ILI.4117 10.497 6 1'rustoeJ remMDeratlon and exptA u IruSre￿ Irty wAh rweitrrd •n!' reMurnTh￿n frixn th¢ dwriiy duTinK th¢ )'Lar. No Iwus*¢s ha￿ rkxYiv¢d •n)' T¢imburs¢d ¢XP¢r￿ or￿Y 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 Feb￿Ary 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 CA*h ¥q#lvAltnts 21124 2023 L&%h tsi bfjnk 740.128 371.785 l (.'redl¢orA'. #mibunts l#lllnq ￿'5th1n ont >t*r 21124 iOZ3 7ri.514 59.760 12 Pa8¥ 2 John Menziu Tru51 for Sco¢u5 Collete and C*tbolie Education Notes to the Financial Ststements for the Yur Etyded 29 Ftbrnary 2024 (continued) Includcd in RLwurtes e¥rKm¢kd kkni" is bal*ncL' I*0￿1 for￿￿1d from v¢8r ￿0v￿lIng 10 £7.365.90412023.. £7.805J871. Oiktr r¢¢ts¥DLs¢d B*l¥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 Ftbrn*ry 2024 (continued) l)¢sign*trd b¥Dd¥ TX'si8nat¢d fu￿5 rLVL*ni amounts Set ￿lde bv tk. Try1￿$ fmm ￿. rKo¢ecds of the knius Colkyc sak for sp¢Lifir future thdrI￿ble purww-5 in mcwrd￿¢¢ i%ith Trus*¢ decisiL￿$ math in Prior) . (k'si8na*d lund ￿mainS £726261 12023.. t72626ll. No ￿11￿￿1] *sIxn￿l￿n5 or [¥1¢￿5 m8&. during y¥ar. AlibM¥ugh dtsignatL& Ihe* fcTNain part of unrL*ric&4 reservcA miy ￿. r¢alioc*d di5crdion of Ehc Trus￿ shwld circymsthnccs r¢quire. Gains and Iossc% inVCsknLy￿ comwi5L Iwh TEali￿ld ￿$Ing ￿ disposals of IiqL'd invLsimcnts and unTrxli*d yin$ grisinK from Ehc rEvaj￿10Th orth¢ In￿lm￿l r￿n10110 ￿ fflwk¢E valuc ai th¢ vw l￿d. D￿lthg the %ear ¢rthl 29 FtbwuaTh 2024. Irall￿ gains amoun*d ￿ £23.120 12023: £18.975). In addiiioth. gaiths on rt¥llua￿Th ￿b￿roliD £143A76 12023: W￿all￿.d gaills or £157.5131. Thes¢ mov¢mcnts r¢tlect w￿rOllO nwwgfm¢ni a¢iivitY 108th m#rk¢i durinB It￿ year. Other Reeoyittd CAlns iwd 0￿￿ rr¢O8nl￿d 8•in$4nd k>svs r¢pt¢xni cllp1￿ rceipLsnoi fonning w of ini"esuneni wifdi(b. During ye¥. th¢ T¢w( T¢¢¢ivcd £356.0￿ (2023.. £nill arisin8 un(kY thE *rn1s ofihe &velweni aKteemcni in rl￿pr¢I of a￿1110￿8] dev¢k)pabk land u B￿"r$ Esw¢. Thi4 f¢¢¢ipL has recoBnised as a capitsl Bain in y¢•r of tcccipt. 13 kelsted pArt) tr￿5￿￿10 During the )'ear thc chariLy the followin8 rtknd war￿1)￿5.. C.IYV.T ThL EnL*Lees ofthL John ment.K￿ Tru5E foT SGuiUS Culk.8e •¢*1 Ca￿1•¢ 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 8￿￿1 apwDv¢d in xcordw¢¢ with th¢ Tnw"5 rn￿al g(Y4'ernance pnKedurcs. No balun¥¥ iY4s uut)thndin# at dK' JLYrcttd 12023: £nill. Pa8c 22 JohD Mem21es Trn$t for Scoths College and Caihollc Eduutlon Del4iled St•¢¢menl of FlnAn¢knl Aetlvltles for the YtAr Ended 29 Ftbrll*ry 2024 loi•l 20?4 201J lu¢wmr *nd kodu*A"menis from: 169.7V6 163.831 To¢ul in41>11K' 16Y.7U6 163.831 F.xpcnditurc o#-. 1511.3Y4b IYI.R50) 151.LH)81 376Jl¥ 14? ?44 427J20 N¢1 inLiini¥ll¥ip¢ntliiur¢l 17.461 1261.494 27.46? 1261.4931 Rteon¢llS*tkJn of fu￿d$ 7.365.9f 7.805.887 l-u1￿1 fu￿1¥ li)rn¥d 7.31*3.31 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 E￿ded 29 February 2024 (continued) Toial 2024 202J I￿1￿5111*¥iti Iiicojiie 16.I.17Y 6J?7 16_: Inter¢%1 ￿￿$h dL'Ph.%IL% EndUii'niL￿l.j'ru￿ iTrl'Rf 01-A￿-r￿jLK 48¥ 169.71K> 16i.a31 AdMi￿l￿NI111￿ Ol'it￿￿￿nLnls 150.i941 Il l.(X)¥l Choiiitybl¢ o¢1iviiies Grdnl tXL)dhk.: Rld¢r% m￿lL'um (irnni PL>llhk.: Th¢ kN)Ili4h Caiholic Archi￿ Cjrnnt pa)ablc'. C'NLT l.ibrary 'gal ILL Prol¢%%ton?I f¢4.% 159.0201 {1.0261 2Y8.21MI 17.5751 198.7•2 18.2641 {4.69iTr 14.440) 4.440) 376.3181 The a￿j11 of1￿ L*&riii s annual a¢tsj￿ (91.8501 Thi$ p48e d￿5 ofthc fmarKial aa¢un¢nts. Pw24