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 />
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER <strong>2020</strong> (CONTINUED)<br />
15. ANALYSIS OF NET ASSETS<br />
Net Net Parish and Total<br />
Current Restricted Fund as at<br />
Fixed Assets loans to the 31 December<br />
Assets Investments less loans Diocese <strong>2020</strong><br />
£ £ £ £ £<br />
Unrestricted Archdiocesan funds 10,753,619 28,813,962 (3,704,124) (28,230,121) 7,633,336<br />
Restricted Archdiocesan funds 497,195 7,610,855 2,300,079 936,704 11,344,833<br />
Parish funds 27,656,928 24,115,414 2,673,675 27,293,417 81,739,434<br />
----------------------- ------------------------ ----------------------- ---------------------- -----------------------<br />
Total Net Assets £38,907,742 £60,540,231 £1,269,630 £- £100,717,603<br />
=========== =========== =========== =========== ===========<br />
Net Net Parish and Total<br />
Current Restricted Fund as at<br />
Fixed Assets loans to the 31 December<br />
Assets Investments less loans Diocese 2019<br />
£ £ £ £ £<br />
Unrestricted Archdiocesan funds 11,211,390 27,337,123 (7,411,928) (25,238,397) 5,898,188<br />
Restricted Archdiocesan funds 497,195 7,217,968 5,198,632 936,704 13,850,499<br />
Parish funds 27,310,182 12,411,938 5,354,285 24,301,693 69,378,098<br />
----------------------- ------------------------ ----------------------- ---------------------- -----------------------<br />
Total Net Assets £39,018,767 £46,967,029 £3,140,989 £- £89,126,785<br />
=========== =========== =========== =========== ===========<br />
Total net current assets (including cash reserves) amounted to £2.13.3m (2019 £3.1m). This is represented by Parish net current<br />
assets worth £2.7m (2019 £5.4m) and central Archdiocesan funds having net current liabilities of £0.6m (2019 £2.3m) of<br />
which the unrestricted funds were £3.7m in deficit (2019 £7.5m).<br />
16. TRANSACTIONS WITH TRUSTEES<br />
Some of the Trustees of the Archdiocese (“Clerical Trustees”) are also priests in the Archdiocese conducting pastoral ministries.<br />
As priests they receive income in respect of their priestly work together with living accommodation, living expenses<br />
and reimbursement of costs on a similar basis as other priests of the Archdiocese. They do not receive any remuneration or<br />
benefits from their trusteeship.<br />
The remaining Trustees (“Lay Trustees”) did not receive any remuneration or other benefits in the year ended 31 December<br />
<strong>2020</strong> nor for the year ended 31 December 2019. No Lay Trustee was paid any expenses in <strong>2020</strong> or 2019.<br />
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