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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NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER <strong>2020</strong> (CONTINUED)<br />
17. TRUSTEE INDEMNITY INSURANCE<br />
The insurers of the Archdiocese provide Trustees’ indemnity insurance at nil premium.<br />
18. COMMITMENTS<br />
At 31st December <strong>2020</strong>, the projects for the School Building Programme had a budget cost going forward of £1.23m (2019<br />
£2.84m) for the following twelve months. Of this sum, £1.11m (2019 £2.49m) is due to be funded by DFE grant, £0.12m (2019<br />
£0.56m) will be recoverable from Governing bodies or other parties leaving £Nil (2019 £Nil) to be met by the Archdiocese<br />
over the next three years.<br />
19. RELATED PARTY TRANSACTIONS<br />
The Most Reverend John Wilson and The Reverend Monsignor Matthew Dickens VG, two of the Trustees are members of Kent<br />
Catholic Schools Partnership (KCSP). A credit facility was provided to KCSP. The balance due from KCSP at 31 December <strong>2020</strong><br />
is £447,155 (2019- £465,655). No interest is charged on this facility<br />
The Most Reverend John Wilson and The Reverend Monsignor Matthew Dickens VG, two of the Trustees, are members of St<br />
Matthew Academy. No payments were made to St Matthew Academy in <strong>2020</strong> (2019- £Nil). The balance due at 31 December<br />
<strong>2020</strong> and 31 December 2019 was £Nil.<br />
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