Southwark Report 2020_NEW final -Single pages
The Archdiocese of Southwark is pleased to publish an updated version of the Annual Report and Accounts for 2020. This version was revised after correcting a technical error and was re-submitted to the Charity Commission in December 2022.
The Archdiocese of Southwark is pleased to publish an updated version of the Annual Report and Accounts for 2020. This version was revised after correcting a technical error and was re-submitted to the Charity Commission in December 2022.
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ANNUAL<br />
ACCOUNTS<br />
contribution to the United Nation’s Sustainable Development Goals. We no longer have any fossil fuel investments.<br />
The portfolio has performed well, with an increase in value of over the year of 20.52%.<br />
The Trustees look after this issue by a structure of quarterly meetings between the Investment Committee and the<br />
investment managers, Barclays Wealth. At these meetings, the officers and the managers consider each holding<br />
in the portfolio and the officers instruct Barclays Wealth as appropriate if disinvestment is required on ethical<br />
grounds.<br />
STATEMENT OF TRUSTEES’ RESPONSIBILITIES<br />
The purpose of this statement is to distinguish the Trustees’ responsibilities for the accounts from those of the<br />
auditors as stated in their report. The Charities Act 2011 requires the Trustees to prepare for each financial year<br />
financial statements, which give a true and fair view of the Charity’s financial activities during the year and of its<br />
financial position at the year end. In preparing the financial statements, the Trustees are required to:<br />
o Select suitable accounting policies and apply them consistently;<br />
o Observe the methods and principles in the Charities SORP<br />
o Make judgements and estimates that are reasonable and prudent;<br />
o State whether applicable accounting standards have been followed, subject to any material<br />
departures disclosed and explained in the financial statements; and<br />
o Prepare the financial statements on the going concern basis unless it is inappropriate to<br />
presume that this basis applies.<br />
The Trustees are responsible for ensuring that proper accounting records are kept which disclose, with reasonable<br />
accuracy at any time, the financial position of the Archdiocese and enable them to ensure that the financial<br />
statements comply with the Trust Deed and the disclosure regulations. They are also responsible for safeguarding<br />
the assets of the Archdiocese and hence for taking reasonable steps for the prevention and detection of error,<br />
fraud, and other irregularities.<br />
The Archdiocesan Trustees meeting on 7 December 2022 approved this statement of responsibilities, together<br />
with the <strong>Report</strong> and the Review and the Accounts.<br />
...................................................................................<br />
Most Reverend John Wilson<br />
Trustee<br />
7 December 2022<br />
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