Southwark Report 2020_NEW final -Single pages

ANNUAL
ACCOUNTS
contribution to the United Nation’s Sustainable Development Goals. We no longer have any fossil fuel investments.
The portfolio has performed well, with an increase in value of over the year of 20.52%.
The Trustees look after this issue by a structure of quarterly meetings between the Investment Committee and the
investment managers, Barclays Wealth. At these meetings, the officers and the managers consider each holding
in the portfolio and the officers instruct Barclays Wealth as appropriate if disinvestment is required on ethical
grounds.
STATEMENT OF TRUSTEES’ RESPONSIBILITIES
The purpose of this statement is to distinguish the Trustees’ responsibilities for the accounts from those of the
auditors as stated in their report. The Charities Act 2011 requires the Trustees to prepare for each financial year
financial statements, which give a true and fair view of the Charity’s financial activities during the year and of its
financial position at the year end. In preparing the financial statements, the Trustees are required to:
o Select suitable accounting policies and apply them consistently;
o Observe the methods and principles in the Charities SORP
o Make judgements and estimates that are reasonable and prudent;
o State whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements; and
o Prepare the financial statements on the going concern basis unless it is inappropriate to
presume that this basis applies.
The Trustees are responsible for ensuring that proper accounting records are kept which disclose, with reasonable
accuracy at any time, the financial position of the Archdiocese and enable them to ensure that the financial
statements comply with the Trust Deed and the disclosure regulations. They are also responsible for safeguarding
the assets of the Archdiocese and hence for taking reasonable steps for the prevention and detection of error,
fraud, and other irregularities.
The Archdiocesan Trustees meeting on 7 December 2022 approved this statement of responsibilities, together
with the Report and the Review and the Accounts.
...................................................................................
Most Reverend John Wilson
Trustee
7 December 2022
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