ANNUAL REPORT 2020 FINAL 211031
Annual Accounts and Impact Report for the Archdiocese of Southwark in 2020accounts
Annual Accounts and Impact Report for the Archdiocese of Southwark in 2020accounts
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ANNUAL
ACCOUNTS
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020 (CONTINUED)
16. TRUSTEE INDEMNITY INSURANCE
The insurers of the Archdiocese provide Trustees’ indemnity insurance at nil premium.
17. COMMITMENTS
At 31st December 2020, the projects for the School Building Programme had a budget cost going forward of £1.23m (2019
£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
£0.56m) will be recoverable from Governing bodies or other parties leaving £Nil (2019 £Nil) to be met by the Archdiocese
over the next three years.
18. RELATED PARTY TRANSACTIONS
The Most Reverend John Wilson and The Reverend Monsignor Matthew Dickens VG, two of the Trustees are members of
Kent Catholic Schools Partnership (KCSP). A credit facility was provided to KCSP. The balance due from KCSP at 31 December
2020 is £447,155.
The Most Reverend John Wilson and The Reverend Monsignor Matthew Dickens VG, two of the Trustees, are members of St
Matthew Academy. No payments were made to St Matthew Academy in 2020 (2019- £Nil). The balance due at 31 December
2020 and 31 December 2019 was £Nil.
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